Posted on 05/02/2013 7:45:57 AM PDT by The Old Hoosier
President Obama has often denounced “fat-cat bankers” for their role in the 2008 financial collapse, the subsequent bailouts and the recession.
His strong words on the topic suggest that he would have little sympathy, say, the former chairman of her family’s bank, whose collapse caused 1,400 depositors to lose millions at the time. You’d expect him to have even less sympathy if said bank had collapsed because it had adopted an aggressive subprime lending strategy; if it had tried to sell itself and its subprime packages to low-income borrowers as their only hope of getting loans; if it had fixed them up in loans with interest rates north of 10, 12 or even 16 percent; if it had liberally employed balloon loans and other gimmicky products characteristic of the recent gilded age of mortgages.
But no, you’d be wrong. Obama has just nominated Penny Pritzker, the billionaire former chairwoman of just such a bank (until 1994) and later a director for its holding company (with an active role in its operations, according to Crain’s, from 1999 until its failure in 2001) as his new secretary of Commerce.
(Excerpt) Read more at conservativeintel.com ...
A 1 percenter who doesn’t pay his fair share nominating a fatcat banker who helped orchestrate the housing collapse in a bad economy he inherited, named Penny, doesn’t surprise me.
Bush’s fault.
And saying anything negative isn’t only racist, it is also sexist. /sarc
As long as the Fat Cats were bundling for him, he will reward them with cushy jobs and bailouts paid for by the American taxpayer. It’s the Democrat way.
...an administration comprised entirely of thieves, liars and failures....
He is really rolling out a team of winners for this term. I understand his restrictions. He can’t pull any senators for fear of losing their seats, but there have to be some mildly qualified candidates for these positions. Heck, nominate a no name assistant secretary that at least knows the office phone system.
Let’s see how much comes out in the Senate Confirmation hearings.
FOUNDATION DONORS TO MEDIA MATTERS FOR AMERICA
(TOTALS) compiled by The Daily Caller
February 17, 2012
$400,000 Pritzker Family Foundation
http://dailycaller.com/wp-content/uploads/2012/02/MMFA-donors-THE-DAILY-CALLER.pdf
Financial collapse to ensue at a faster rate,he only has three years left.
Lookey who!
Obama nominated Penny Pritzker as his new secretary of Commerce.
Subprime queen (and pioneer); “failed” bank; Obama bundler; Obama advisor, etc, etc, etc.
Keywords: pennypritzker; pritzker
http://www.freerepublic.com/tag/pennypritzker/index?tab=articles
http://www.freerepublic.com/tag/pritzker/index?tab=articles
*Excellent* memory refresher by Michelle Malkin
http://townhall.com/columnists/michellemalkin/2013/03/20/penny-pritzker-a-chicago-fat-cat-for-commerce-secretary-n1543399/page/2
http://www.freerepublic.com/focus/f-news/2998729/posts
Malkin’s article is dated March 20, 2013, but the news of this appointment has just started circulating——with several threads in the last 2 days.
The new Obama Cabinet is looking downright frightening.
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