Posted on 11/20/2008 8:09:21 AM PST by goodnesswins
Penny Pritzker is connected to the Hyatt family. She was head of Superior Bank in Chicago that went under and cost shareholders millions. She also helped develop sub prime bundling schemes. Oh, and she was one of Obama's campaign finance helpers.
AND, NOW....she'll be running the COMMERCE DEPARTMENT!
Freep-mail me to get on or off my pro-life and Catholic List:
Please ping me to note-worthy Pro-Life or Catholic threads, or other threads of interest.
Obama Says A Baby Is A Punishment
Obama: “If they make a mistake, I don’t want them punished with a baby.”
CHANGE we can’t believe in!
Amazing. He might as well go to prisons for the dishonest people he is hiring.
The nomination for this poster child for the Peter Principle should be declared DOA by Republicans.
Madness.
Well, I have to say that Penny Pritzker definitely makes McCain’s chief financial adviser look good by comparison.
Carly Fiorina may be a jerk, but she comes by it honestly.
Problems arise over Cabinet post for Pritzker
November 20, 2008
###
Chicago 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 told the Washington Post.
Earlier, The New York Times reported that Pritzker was in the final stages of vetting for the post although the newspaper said her family’s past involvement with a failed bank had raised concern.
“The issue is whether she ultimately wants to do this, and it may be - and probably will be - possible that for business reasons, she probably can’t do it,” said a Democratic source familiar with Obama’s Cabinet selection process.
The early favorite for the job, Pritzker may take herself out of the running soon, sources said. Pritzker was the first campaign insider and “Friend of Barack” to surface as a possible Cabinet pick.
Pritzker had started a review of her vast financial holdings, weighing whether she could disentangle herself to the extent necessary to meet Obama’s strict standards for service in his administration. Assuming she could, and wanted to, Obama sources said, the job would be hers.
http://www.chicagobreakingnews.com/2008/11/report-penny-pritzker-tapped-for-obama-cabinet.html
~ ~ ~
Excerpt:
Mr. Courtney, now 63, wonders aloud how Mr. Obama could rail on the campaign trail against the national financial crisis started by subprime lending while allowing a former advocate of the practice to hold the senior position of finance chairwoman in his campaign. The candidate has even lauded Ms. Pritzker’s business practices as a model for an Obama administration.
“He knows the Pritzker family. He knows what happened in Illinois. He knows that Superior Bank was one of the first to securitize subprime mortgages,” Mr. Courtney said. “He talks about change and helping people find a better way of life, but he has distanced himself from the fact that Superior helped ignite the nation’s subprime crisis and that Penny Pritzker and her family walked away from it and us.”
The Obama campaign does not dispute that Ms. Pritzker advocated subprime lending as the bank was failing but said she was “never accused of any wrongdoing nor did she receive compensation in relation to the closing of Superior Bank.”
The campaign said that instead of “walking away as millions of homeowners and stockholders suffered, the Pritzker family entered into a voluntary settlement and agreed to pay the government” $460 million that the bank cost taxpayers over 15 years to defray its losses.
That’s little solace to the victims of Superior Bank’s failure, who are still attempting to recoup their losses via a lawsuit and feel left behind in the current financial crisis, which was spurred, in part, by the very same subprime lending that sank their deposits.
http://www.washingtontimes.com/news/2008/oct/29/ex-subprime-bank-executive-finances-obama/
~~~
Lib (and Clinton) tactics and practices, deja vu.
Americans are about to get the “liberalism” they voted for shoved right down thier throats.
And sadly, WE DESERVE IT.
We, the American People have allowed this, and we are due everything that is coming to us. Luckily, the lib media wonks who covered for the Socialist morons are going to be on the bread lines right along with most Americans soon.
Thanks for posting that.....we’ll see what happens.....
Does anyone else feel like BO is intentionally trying to destroy this country by running our economy and our military right into the ground??
Either that, or he is just plain stupid.
We had 8 years of the White House and the government being run like a criminal enterprise and we are now going to have 8 more...only worse.
Did I hear Rush just mention Penny?????
Another one under the bus...LOL!!
They are new and improved. They now have experience in messing things up.
Obama has such good mentors. All crooks or terrorists.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.