[Wolfie]

I suppose we could regulate derivatives. Nah.

[LomanBill]

 

 

" Uhhhh, that's not ours either! "

---Weiner, Obama, Perry, Pelosi, Frank, Pritzker and Associates, LLLP.

 

 

Follow the....

http://www.campaignmoney.com/finance.asp?type=in&cycle=08&criteria=pritzker&fname=penny

 

Billionaire business mogul Penny Pritzker is a member of one of America’s richest families and was the Finance Chair for the presidential campaign of Barack Obama.  It was Pritzker that led the prolific, and illegal, fundraising that helped power Barack Obama’s presidential campaign.  She was the chair of Chicago-based Superior Bank’s board for five years.  Pritzker was into subprime lending before it became all the rage starting in around 2000.  Prtizker's chairmanship was to concentrate on sub prime lending, principally on home mortgages, but for a while in subprime auto lending, too, after the Pritzkers' bank acquired its wholesale mortgage organization division, Alliance Funding, in December 1992. Back then they called it "predatory lending." Superior Bank went belly up in 2001 with over $1 billion in insured and uninsured deposits; 1,406 depositors lost much of their life savings.  This collapse came amid harsh criticism of how Superior’s owners promoted sub-prime home mortgages. On Nov. 1 [2002] the Federal Deposit Insurance Corp. pointed the finger at Ernst & Young, Superior’s auditor, in a fraud suit filed in federal court here.  But that action came two months after a group of Superior depositors accused the bank’s owners and directors, including two members of the Pritzker family, of racketeering....

[snip]

...Pritzker is chairman of Classic Residence by Hyatt, luxury senior living communities in 11 states; chairman of The Parking Spot, which owns and operates off-airport parking facilities in nine cities; chairman of the credit data company TransUnion and chairman of Pritzker Realty.  She also sits on the board of Global Hyatt and plays a role in numerous non-profit groups, including serving as chairman of the Olympic village portion of Chicago’s bid to win the 2016 Summer Games. 

 

http://www.theobamafile.com/_associates/PennyPritzker.htm

 

 

 

Nudge nudge nudge...

 

[LomanBill]

>>banks that were foolish enough to lend money to...

http://www.google.com/search?sclient=psy-ab&hl=en&source=hp&q=Deutsche+Bank+Argent+Mortgage

[glorgau]

If the value of their portfolio were to fall by just 2%, the Fed itself would be wiped out

It's impossible to be "wiped out" when you can print money.

[arkady_renko]

Ugh.

[GeronL]

Its the end of the world as we know it.

Preppers were right. Too bad I’m too poor and live in the center of a major metropolitan area. I’m dead!

[napscoordinator]

Doom and Gloom. Wasn’t the World supposed to blow up a few months ago and then the prediction is December 2012. Another thing, we have been talking about the end of America since around 1776. Not going to happen!!!!!

[gitmo]

Would someone please explain what a derivative is? Not the calculus derivative, the financial one.