Penny Pritzker: Obama's Finance Campaign manager
Pritzker is one of the most active of celebrated Chicago patriarch Abraham N. Pritzker's 12 living grandchildren. A Harvard-trained attorney, Pritzker, 46, was chosen by her late uncle Jay to help oversee the family's vast portfolio of investments, including the Hyatt hotel chain and the Marmon Group industrial conglomerate. (Forbes Lists 2005)
One reason Barack Obama might not want to talk about the role of financially irresponsible bank board members in creating the subprime mortgage foreclossure financial disaster is that the national finance chair of Obama's campaign, Penny Pritzker, is a former board member of the failed Superior Bank S&L that engaged in irresponsible subprime mortgage lending during the 1990s.
Apparently Penny was into subprime lending before it became all the rage starting in around 2000. It continues:
Penny Prtizker's chairmanship was apparently "to concentrate on subprimelending, 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.
Their bank, Superior, went bust in 2001, costing the government a billion dollars. The Pritzker's came to a settlement in which they agreed to pay less than half of that to the government.
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1 comment:
How do we get Pritzker to not host "A dinner in honor of Ahmadinejad, being held at the Hyatt Hotel at Grand Central Station on September 25. Get this: it's billed as an 'interfaith dialogue.'"
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