Penny Pritzker: Obama's Campaign Finance Chair and Pioneer in Subprime Loans
Senator Barack Obama’s campaign finance chairperson, faces a potential controversy over finance chairwoman Penny Pritzker’s past association with Superior Bank, which failed and was seized by regulators in 2001.
“Billionaire Penny Pritzker (Hyatt Hotels) helped run Hinsdale, Ill.-based Superior, overseeing her family’s 50% ownership stake,” John R. Emshwiller writes for The Wall Street Journal. “She now serves as Barack Obama’s national campaign-finance chairwoman, which means her banking past could prove to be an embarrassment to her — and perhaps to the campaign.”
Superior was criticized for engaging in predatory lending, and paid out $200 million in dividends to owners throughout the 90’s based on cooked books. Seeing as Ms. Pritzker was one of those owners, that’s mighty interesting. Team Obama has released a statement saying that Ms. Pritzker herself was never accused of any wrongdoing, and that the Pritzker family paid our $460 million to help defray the cost of Superior’s collaspe.
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I don't know. :) People posted various sources even before I asked the question. I can't keep up. :)