obama-falling-money1

money_in_toiletIf you are surprised by this appointment consideration, please know that I am not. And if you don’t know who Penny Pritzker is, you can count on me to refresh your memory.

Penny was Barack Obama’s national campaign finance chair and now she would like to become Secretary of Commerce. Well I suppose we should all be grateful that she hasn’t been tapped as Secretary of Treasury, considering she owes the Federal Government nearly a half billion dollars in restitution for her seized Superior Bank in Illinois.

Yes, my friends, Penny Pritzker, the Mother of subprime lenders, former owner of the seized Superior Bank is on Barack Obama’s short list for Secretary of Commerce.

I am sure all those customers she screwed are thrilled. In fact one of them had quite a bit to say about Barack Obama and his relationship with Prizker right here on this radio show after ole Penny’s bank went under and left her with a large part of her life’s savings flushed down the proverbial drain. (Note: If Play doesn’t work, click on MP3 Stream link, you don’t want to miss this woman’s story)

I can assure you this woman wasn’t psychic when she expressed concern that Pritzker would become a member of an Obama cabinet. She just happened to understand the concept of “Show me who your friends are and I will tell you what you are“.

You might say that Penny was a Pioneer of sorts. After all, her Superior Bank folded like a plastic door in a cheap banquet room years before the rest of the dominoes fell.

You might even say that the Superior Bank was a boilerplate for what’s happening today on Wall Street. She avoided the rush, so to speak. Her bank failed in 2001. I discussed this here on April 4, 2008. So did plenty of other bloggers, including RBO. Of course, all of this was dutifully ignored by those bastions of integrity, MSNBC and CNN.

For those of you who need a refresher course, here are some clips from that non-fiction story:

The Pritzkers are one of the nation’s wealthiest families and heirs to the fortune created by the Hyatt hotels. Yes, Penny is a billionaire. So basically, Penny could squash me like a bug right now for writing this.

Among their other endeavors, the Pritzkers were the owners of Superior Bank in Hinsdale, Illinois when it was seized.

Yes, I did say seized.

Penny Pritzker, Barack Obama’s great Chicago (of course!) friend was a pioneer you might say! She was a failed subprime lender who set the tone all the way back to 2001. She did it before it was even in style.

Here’s a little press release from the Office of Thrift Supervision back in 2001:

OTS Closes Superior Bank FSB; Hinsdale, Ill. Thrift is Insolvent

WASHINGTON – The Office of Thrift Supervision (OTS) closed Superior Bank FSB, Hinsdale, Ill., today and appointed the Federal Deposit Insurance Corporation (FDIC) as receiver.

The FDIC transferred the insured deposits and substantially all the assets of Superior Bank into a newly chartered, full-service mutual savings bank, known as Superior Federal, FSB, which will open for business on Monday morning. All depositors of Superior Bank automatically become depositors of Superior Federal, and will have immediate access to their insured funds. All 18 of Superior Bank’s Chicago metropolitan area offices will open for business Monday and will continue to offer full banking services, including online banking. Superior Bank’s loan production and servicing operations will also continue to operate normally.

OTS used its authority under the FDIC Improvement Act of 1991 to close Superior Bank when it found that the bank remained critically undercapitalized — that its tangible equity capital was less than two percent of its total assets. The bank failed to implement a capital restoration plan that it submitted to OTS on May 24 this year.

Superior Bank suffered as a result of its former high-risk business strategy, which was focused on the generation of significant volumes of subprime mortgage and automobile loans for securitization and sale in the secondary market. OTS found that the bank also suffered from poor lending practices, improper record keeping and accounting, and ineffective board and management supervision.

Superior became critically undercapitalized largely due to incorrect accounting treatment and aggressive assumptions for valuing residual assets. The bank also experienced significant losses during 2000 from its automobile lending program.

OTS has determined that Superior Bank is insolvent, having incurred losses that have depleted all or substantially all of its capital. OTS also determined that Superior Bank was no longer able to transact business in a safe and sound manner.

OTS notified the bank of its serious concerns in July 2000.

The bank was purchased by two families in 1988 — the Pritzker family of Chicago, owner of Hyatt Hotels and other interests, and the Dworman family of New York, with interests in real estate and financial services activities — and was operated through a complex network of holding companies.

In light of these findings, OTS determined that closure and the appointment of FDIC as receiver were necessary to protect the interests of the bank’s insured depositors.

As of March 31, 2001, the failed bank had total assets of $1.9 billion and total deposits of $1.5 billion. FDIC insures depositors’ accounts up to the statutory limit of $100,000.

Superior is the only bank that OTS has closed in 2001, and only the fourth OTS-regulated institution closed in the past five years.

The FDIC has established a toll free telephone number for customers of Superior. That number is 1-800-331-6306, and will be available until midnight tonight and then from 7 a.m. to 7 p.m. daily thereafter.

At the time of this seizure, it was determined that Penny Pritzker and her family owed $460,000,000 to the Federal Government. Yes, that’s right folks. Nearly a half a billion dollars. Gee, i wonder if that’s all paid back yet, don’t you?

Back in September, 2008, I discussed Penny and her siezed subprime lending institution yet again and so did RBO. I felt she deserved another go-around considering she certainly appeared to be a prime forerunner of today’s Wall Street Meltdown–and this didn’t seem to bother Barack Obama one bit:

You see, while Barack Obama is faking outrage over all the bankruptcies and bailouts, he doesn’t mention that a number of his top ten contributors are from Wall Street, including Goldman Sachs, Lehman and the JP Morgan Chase. He also fails to mention that one of the first subprime lenders to stick it to borrowers and have her bank seized is a woman named Penny Pritzker, who just happens to be Barack Obama’s campaign Finance Chair (as confirmed on April 3, 2008) and a potential Secretary of the Treasury in an Obama administration.

Power and Control blogger has this to say:

This is a long and complicated story about how Obama backers were behind the mortgage industry meltdown. It hast to start some where, so lets start with a well known Chicago name Penny Pritzker. It starts with a bank failure.

And now, Penny is being considered as Secretary of Commerce. Kind of makes you feel all warm and fuzzy, doesn’t it? Don’t you always have a warm feeling when you meet one of Barack Obama’s close friends?

But don’t worry. Penny is going to fix herself and her friends us up really well. After all, look how well she has looked out for the little people in the past.

I guess the main stream media didn’t think this Petty little Penny Pritzker Problem (say that three times fast) was important enough to look into back when some of us was being sooooooooo trivial about it.

Change You Simply Cannot Believe.

Additional links on this bilking of innocent people:
NY Times, December, 2001
FDIC Failed Bank Information – Superior Bank
OTS Closes Superior Bank FSB; Hinsdale, Ill. Thrift is Insolvent
OTS Announces Resolution of Charges Against Auditor of Closed Superior Bank FSB

Additional Uppity Coverage of this marvelous “choice” for Secretary of Commerce:

Barack Obama’s Finance Chairwoman and the Seized Superior Bank (April 4, 2008)

Obama’s Finance Chair – Failed Bank Owner Penny Pritzker and Wall Street Today (September 14, 2008

RBO: Penny Pritzker’s Problem (September 16, 2008)

  • Pingback: Finally the payoff..GE NBC Chief Immelt named to Economic Advisory Panel by Obama…also tapped: the woman who helped create subprime and kill Superior Bank, Penny Pritzker…Auston ‘NAFTA’ Goolsbee too! great! « Moderate in the ()

  • Pingback: Finally the payoff..GE NBC Chief Immelt named to Economic Advisory Panel by Obama…also tapped: the woman who helped create subprime and kill Superior Bank, Penny Pritzker… « Moderate in the Middle()

  • Pingback: Finally the payoff..GE NBC Chief Immelt named to Economic Advisory Panel by Obama…also tapped: the woman who helped create subprime and kill Superior Bank, Penny Pritzker… « Moderate in the Middle()

  • mountainaires

    She knows she’s still in legal trouble. So, she’s bowing out; smart move, Penny. Probably on advice from your “good friend” Barry…

    Stay Classy, Penny. [said sarcastically]

  • I just sent another piece out. She refused,says she’s afraid because of her past “business dealings”. Ya think?

    They said she wasn’t ‘vetted’. you mean Obama didn’t know and I did?

  • Jim S

    Obamas cabinet members will be the most stringently vetted in US history. It’s too bad that Obama can’t pass his own test.

    http://www.thestar.com/News/USElection/article/540207

  • MMS

    http://www.time.com/time/politics/article/0,8599,1859954,00.html?cnn=yes
    She was probably scared to fill this out. Doesn’t look like it’s a hoax.

  • Pingback: Penny Pritzker is Obama’s Finance Chairman » Right Pundits()

  • cathnealon

    ritamary
    you’re right about Ireland. My mother-in-law came from there in her 20’s, still has dual citizenship. My daughter wants to go to school and work there and has just finished up the paperwork to apply for dual citizenship herself even though she was born in the U.S. and only visited Ireland. I am encouraging her to do so as we may need a connection there when BO announces his next appointment, probably Ayers for Education secretary.

  • David and Karen

    http://www.rallycongress.com/constitutional-qualification/1244/

    Stop the Obama Constitutional Crisis Sign the Petition : 109,490 Letters and Emails Sent So Far

    Article II, Section 1 of the U.S. Constitution reads: “No Person except a natural born citizen, or a citizen of the United States at the time of the adoption of this constitution, shall be eligible to the Office of President; neither shall any person be eligible to that office who shall not have attained to the age of thirty five years, and been fourteen years a resident within the United States.”

    There are numerous questions as to Obama’s citizen status raising suspicion and doubt about Obama constitutional qualification to be president. To settle these questions Mr. Obama must produce proof of citizenship!

    Documents that must be produced include;
    (a) a certified copy of “vault” (original long version) birth certificate;
    (b) certified copies of all reissued and sealed birth certificates in the names Barack Hussein Obama, Barry Soetoro, Barry Obama, Barack Dunham and Barry Dunham;
    (c) a certified copy Certification of Citizenship;
    (d) a certified copy Oath of Allegiance taken upon age of maturity;
    (e) certified copies of admission forms for Occidental College, Columbia University and Harvard Law School; and
    (f) certified copies of any court orders or legal documents changing his name from Barry Soetoro.

    It is reasonable that these documents should be produced considering that his father is Kenyan, his adoptive father is Indonesian, and his grandmother claims to have been present at his birth in Kenya. If he is a natural born citizen then producing these documents should not be any problem.

    These allegations will not go away until Mr. Obama produces proof to federal authorities and the public. If he will not do so voluntarily he must be compelled by every means available. You, as an employee of The People, have sworn an oath to support and defend the Constitution.

    We The People are demanding you to make every effort, both public and private, to resolve this fundamental Constitutional question before 20 January.
    ————————

    http://www.rallycongress.com/constitutional-qualification/1244/

    Please take the time to think long and hard about the vote for President. The eviedence as I see it is strong proof that Obama should not be President, he can not legally be so. Until and unless he complies with the lawsuits and submits the required information and it is verified as per the lawsuits. It is hasn’t even been proven that he was vetted by the Democratic Party.

    From my research, and the evidence that I have seen on Attny Bergs site, we very well could be in grave danger if Obama is made president. I am not sure we aren’t already being put in jeapordy by the amount of top secret information being given to him at this point.

    Another thing you need to consider, if you or I had any association with Bill Ayers, and others that Obama has associated himself with, not to mention his family ties to terrorists in Kenya, (his cousin is up on charges for genecide in regards to terrorist actions) would we get security clearance with the FBI? I don’t think so. So how is it that he has access to all this top secret information?

    Something else that you might consider, everytime it looked as if Senator McCain was closing in on Obama in the polls the stock market would gain ground, especially the days prior to and including election day the market was climbing. The day after and ever since the markets have plunged downward. This is an indication that the people are not comfortable with the future of our country with the outcome of the election.
    In the past when the election was over the markets pretty much became stable, that is not the case this time. I do believe had the outcome been a McCain/Palin win, we would not be seeing the constant down turn we are seeing now.

    There are people like my mom that has 1/2 to 3/4 of their retirement tied up with the stock market. When my dad died, she had no clue about the market, she still doesn’t, she thinks it will recover because it has in the past. She will not live long enough to see it come back. I tried to get her to pull out a long time ago, at least most of it but she thought it was safe because it is where dad put it, but as I explained to her he is not here to control it. If this market keeps going she will be wiped out.
    How many other elderly people are in this boat? You have the ability to stop the bleeding if your vote were to go McCain/Palin because America has more faith in that ticket.

    There is evidence coming out that a lot of people that voted for Obama did so for other reasons than he is best for the job. Fox News interviewed some people that voted for Obama, when asked about his policies couldn’t tell you one, when asked what they new about McCain/Palin they could tell some of the negative press, when asked what good things Obama would do, they had no answers.

    There was a radio personality, Howard Stern, who had someone on his staff go to Harlem to ask people who they were voting for and most said Obama, when asked if it was by race they said no. (This was a test to see how much these people new about the candidate they were voting for.) However, when they were asked about his running mate Sarah Palin they thought she was a great choice, when asked about his policy to stay in Iraq until the job was finished and Iraq is stable, they agreed we must do that. We all know that that Sarah was Senator McCains running mate, and staying in Iraq was Senator McCains plan.

    There were people interviewed after Obama rallies and leaving the polling places that were elated because they said they will never have to pay for rent/mortgages, groceries, or gasoline ever again. Did I miss something, I never heard that. Can you imagine the riots that will ensue when these people realized that is not the case. These people will be out for his hide.

    I have already hear of people already refusing to pay rent because he won the election on Nov. 4, saying they no longer have to because Obama won.

    Something that came out just days before the elections, was a statement from Barnie Frank, saying that when Obama gets in office, all IRA’s, 401K’s and Pensions that are still out there will be mandated to go into the Social Security Fund. If this happens you will have even more of a Riot from those who have these. This is our retirement, we worked hard to earn, and save these benefits and we are suppose to put these into a fund that these people can squander. IRA’s and 40lK’s are basically retirement savings accounts, as such we can make our children beneficiaries of these upon our death. In the SS fund they are lost to our heirs.

    One more thing that you should take into consideration. The popular vote that came out in Obamas favor, how much of it was due to illegal votes, voter fraud? I have never seen such nonsense be over looked by the Supreme Court, there were over 30,000 cases in just two counties alone caught before Nov 4 in Indiana, there were over 15,000 and counting in WI when the task force was pulled off the case, we know there was voter fraud in OH that the Supreme Court refused to have cleared up. If you add those numbers up over the number of counties per state, then multiply that by number of states, can you imagine just how many fraudulent votes were in the system.
    The Supreme Court already made a decision to ignore our Constitutional Rights, they refused to get to the truth.

    I will take it one step further, I saw a video on Fox News where (Sen.) Maxine Waters
    (CA) pleading with ACORN, at an ACORN Rally, to make sure Obama wins no matter what they have to do. This adds more doubt to the credibility of the legitimacy of the new voters that voted in this election. We know there were ACORN registration problems in just about every state. Lets not forget that some of these workers were trained by Obama, and his campaign gave them a sustantial payment, purpose is questionable. Until this year I don’t ever recall hearing about this organization.

    There is a lot at stake. Your decision is probably the most important one you have made to this point. Our lives, our futures, our retirement savings, our childrens futures, the security of our country, and much more are all in your hands, the vote you are about to make will shape the future of this country. If you make the wrong choice, there may not be anyway to turn it around in 4 years. An election in 4 years may be too late to reverse the damage done. Will you be able to live with yourselves if the evidence that Attorneys of the 70 lawsuits has is in fact the real truth, and you vote for him anyway. We are asking you not to ignore the peoples plea to do the right thing, protect us and our Constitution.
    I would ask that you take time to read the eveidence in Bergs case at obamacrimes.com, a part of that is about the Constitution and the ramifications if the person elected to office that is not an Natural American Citizen. The part where he would not be eligiable to be Commander in Chief, that the military taking orders from him could be brought up on war crimes. There are other very important problems that would also arise.

    this is an outrage i cant even find ajob as a truck driver because of a minor accident in my past records and this fraud obama is president elect whos in charge of checking backrounds for the highest office in the land this is a conspiracy to get him in evil forces are at work wake up america!

    http://www.rallycongress.com/constitutional-qualification/1244/

    AS WELL CONTRACT YOUR ELECTROL VOITES COLLEGES AND ASK THEN NOT DO A THING TILL Barack M H Obama shows the documents and let them no court cases are pending

  • ritamary

    Uppity, I’m wondering if Obama will try to collect the half billion dollars that his pal Penny owes to the government? He can turn her name over to that collection agency that calls me everyday about my daughter’s student loan.

  • bob

    When the Dems and Obama destroy America, where are we going to go? Is Rush leaving the country? How about Hannity? I wanna go wherever they go.

    • AnninCA

      Well, I catch part of their shows every morning driving back from my walking “date.”

      They both are saying to listeners: Chill.

      • bob

        But shouldn’t we at least be prepared in some way for the collapse of America? I think Rush should tell the audience to all go get a passport, just in case. And find places we can stay in Canada and England. Maybe some job information there, too.

        • ritamary

          Bob, unlike the United States you cannot just go to Canada or the UK and expect to get a job. Jobs are reserved for citizens and legal residents who are approved to work.

          Only in the United States can someone walk across the border and expect to find employment. I already checked it out a long time ago. If you are determined to leave and you can prove you have Irish ancestry, they will take you back over there.

          If you are really worried, why not stock up on staples like beans, rice and pasta. Install a solar or wind energy system. Start a garden in your yard.

          • Docelder

            Yes, I have been thinking also to get 100# bags of dried rice, dried beans, flour etc and store them in the large plastic bins. It would not be ideal to have to live off just beans and rice for a while… but it would be a lot worse to stand in a government food line and wait for congress to fund feeding you. Also, get a shortwave radio to ensure uncensored news. Just in case, it’s cheap insurance.

  • The new words from the Dems is **viable** and **accountability** and Harry Reid just said we are all going to **hold hands** and do this together. Pelosi stated “show us the plan (from the auto execs) and we will show you the money”. I feel like we are up sh*t creek

  • Oh god someone anyone should cut the live feed on the Dems conference NOW. They are a hot mess. Barney Frank is talking now. Watching them is like having a charlie brown Christmas.

  • bob

    When Obama destroys the U.S. where are we all going to go? Canada? Or maybe England? They speak English in Australia, too. Does everyone have a passport? They’re expensive these days.

    • Docelder

      Most of the good countries will not take you if you are over 40 and are not independently wealthy or otherwise have a job skill in current shortage. Even the bad countries i.e. Mexico won’t let you in unless you can establish certain income or assets. We should reciprocate that requirement. We should just mirror Mexico’s immigration policy back at their citizens. Unless you want to move to Central or South America… most folks are quite fixed where they are.

  • Okay, Nancy Pelosi and the DEMs are live holding a news conference. Pelosi states that saving the auto industry is important to national security. They asked them for a plan/proposal. Reid has just stated he doesnt know how much money the auto industry needs. But there needs to be accountability with this industry. Someone needs to remove Pelosi from speaking **stat** because the more she talks the worse it gets. Literally. Someone needs to watch this because between her and Reid are contradicting themselves. It is amazing

  • HARP

    Since Obama is picking so many of Clinton`s cronies to his cabinet, it begs the question….what role will Monica Lewinsky have ???

    • hadenough

      I heard barry wanted to hire her to mentor michelle. That’s just what I heard.

    • Jim S

      I don’t know what her role would be but her position would be prone.

    • beebop

      I am certain it is something in an advisory capacity. Totally off the record.

    • snosandy

      I bet Michelle will be checking all the interns bags when they arrive at the White House to make sure there are no “Presidential” knee pads in them.

  • I’m a Linda too

    I almost choked when I kept hearing this being repeated all morning long. But then realized we tried warning about this for months. We just keep being proved right.

    • HARP

      Yep….They really thought he was going to bring change to Washington.

      Obama supporters…meet….reality.

  • HARP

    Thats some serious change in Washington there Barky Well done.

  • ecoast

    She got derailed right out of the station.
    This is utter incompetence on part of Obama and his transition team. Didn’t they know yesterday about her problems?

    From Yahoo and politico:

    Chicago businesswoman Penny Pritzker, national campaign finance chairwoman for the Obama campaign, has taken herself out of the running to be secretary of Commerce because of vetting issues, a Democratic official said.

    “She fears problems with her confirmation based on past business dealings,” the official said.

    Pritzker was featured in a flurry of news reports as a likely secretary of commerce. But senior officials repeatedly — and correctly — told Politico that was not true.

    Pritzker is a billionaire heiress to the Hyatt hotel fortune.

    • Louie

      I wondered about that, too, as each appointment presents a chip in their defense, particularly if the individual is from that IL sewer (no matter how much press control they think they have).

      Best to stay realistic, they’re not trolling a bunch of bloggers, though I dont think they’ve quite grasped it.

      Bush and Cheney closed ranks for a reason, the minute the bubble is reinforced is the minute they’re toast.

      I think Podesta, or whomever is helping them, was a very good hire.

    • Lynda-NoBot

      I think now O can say he offered her something. So now he doesn’t owe her. Just another game.

      • AnninCA

        Oh, no way. This is his first big diplomatic mistake.

        He has so boxed himself in, I’m amazed.

        If they can’t reach consensus, Bill Clinton will sideswipe for 4 years. Mark my words. Bill will be gracious, articulate, even supportive….while ripping him apart limb by limb.

        He so *ucked up on this.

        His “transition” team?

        out of control

  • JB

    Ummm, Penny Pritzker never owned a stake in Superior Bank. Ever. She served as chairmand and on the board of directors.

    http://en.wikipedia.org/wiki/Penny_Pritzker#Superior_Bank_involvement

    A correction would be nice.

    • hadenough

      Oh yes. It was pritzker’s ‘family’ that owned the bank. penny was just chairman of the bank and served on the board of the banks holding company. At least according to the wiki link you provided.

      • JB

        It actually says her uncle purchased a 50% stake in the bank. That is not her! There is plenty to criticize her about without making stuff up.

        • hadenough

          In this case there is no difference between pritzker and her ‘family.’ There is no way in hell pritzker is chairwoman of that bank and sits on the board of the holding company that owns the bank unless her family owns the bank. penny is not a self made billionaire. She is skating on her families billions.

          • JB

            What does being self made have to do with anything? Your argument is that she owns something because her uncle owns it. That’s just silly.

            Also, she graduated from Stanford with a Master of Business Administration degree and a Juris Doctor degree, so it’s not that crazy she’d end up on the board of a bank.

            • xax

              Her family owned the bank and she was on the board. She evidently had alot to do with the decisions the bank made. It doesn’t matter if she held a share or not.

              She got the job due to family connections. You could have eight degrees from multiple ivy leagues. You do not get to sit on the board of a bank without someone pulling for you or decades of experience. If you are this incapable of connecting VERY SIMPLE dots then I feel bad for you.

              Even according to your own source, she graduated with those degrees in 1984 and SEVEN years later was appointed Chair of Superior Bank. Seriously? You don’t see it. It’s right there!

              • JB

                I’m not even sure what point you’re trying to make. The article says she was an owner – she wasn’t. It’s that simple. Every response to my request for a correction on that has been a strawman.

            • ritamary

              In case you haven’t figured it out, anyone with the right connections and money can get whatever degrees they want from even the most exclusive university. Look at George Bush’s much-praised MBA from Yale.

            • Wisewoman

              JB or whomever you are go back through the archives and read the stories about Penny before commnenting on something that you are seriously lacking information and facts. The writers on this site have covered this issue on a number of occasions. We long time readers really are sick of you people who are ignorant of the facts and try to nitpick to score points. Its highly irritating.

        • Rob G in Chicago

          JB:
          So her uncle purchased it for her and she ran it into the ground (in the grand business tradition of George W. Bush, and all of his business endeavors. She’s apparently very skilled at pissing away the money and assets of others. Is that the “correction” you were looking for?

          • JB

            No, that’s not a correction. What does George Bush have to do with this? And where is your proof her uncle bought it for her?

            • beebop

              Isn’t George Bush the refrain for the next four years? We were just getting a jump on it. Wasn’t it the Bush policies that McCain was advocating even though he wasn’t in most instances. Really. Don’t come here defending Miss Subprime with nothin’ and cry when the apt comparisons are made. boo=hoo.

    • xax

      Cause we all know we can trust wikipedia

      • beebop

        Or factcheck.org … another group of stooges.

  • workingclass artist

    LOL…I could use a cheap auto….

  • Strawberrybitch

    Yikes. Sorry for the typos…told ya I was stunned.

  • Strawberrybitch

    …? I got nuthin’ Uppity. Too stunned. But I would ask Obama if we could redestibute HER wealth.

  • csuzeq

    I think the reason for Hillary as SOS and the dragging out of the confirmation of it was to distract us from these appointments, Pritzker, Jarret. Tat news is being overshadowed by Clinton news or shall i say speculation.

  • hadenough

    pritzker is out. She decided she “does not want to do the Commerce thing”

    Pritzker as Commerce Secretary Unlikely

    Updated 9:28 a.m.

    Hotel heiress Penny Pritzker, who commanded Barack Obama’s record-shattering fundraising operation, has run into business obstacles that will likely prevent her from becoming Commerce secretary, sources close to the president-elect said.
    voices.washingtonpost.com/the-trail/2008/11/20/obama_insider_pritzker_is_fron.html

    Pritzker passes on Commerce Post

    Posted November 20, 2008 11:55 AM

    Chicago billionaire Penny Pritzker has told Barack Obama’s team she does not want to serve as Commerce Secretary, said a senior Obama official.

    “Penny Pritzker ultimately has decided she does not want to do the Commerce thing,” the senior official said.
    http://www.swamppolitics.com/news/politics/blog/2008/
    11/pritzker_passes_on_commerce_po.html

    Can’t find the story from last night but somebody actually reported on pritzker and the failed savings and loan.

    • csuzeq

      she probably wants something else.

      • i think she’s aware of the ‘vetting thing’ so will take some advisory post that avoids that

        • AnninCA

          Well, this is a good sign, frankly.

          I’d love just 4 years without some derailing stupid story about how someone was influenced by lobbyists.

          I don’t buy those stories. BUT……when you have congressmen like Stevens who clearly have not ethics? I sure don’t blame the public for growing discouraged.

    • AnninCA

      Interesting. Well, some would prefer their lucrative consulting firms over Obama’s new rules.

      Probably a smart choice, financially speaking.

    • I’m a Linda too

      well, she wasn’t very good at the “commerce thing”, was she? But O-shit should have known better than to even offer her the position.

    • tek

      Vetting brought up issues she didn’t want publicized.

      To bad Obama wasn’t vetted. Still shows poor judgement on his part.