BREAKING THE BANK
(Washington Prowler) - The woman whom Barack Obama is crediting for organizing the Barbra Streisand fundraiser it held last night in Hollywood is also partially responsible for one of the greater banking collapses in American history.
Penny Pritzker, Obama's national finance chair was, with her family, the half owner of Superior Bank, which was shut down in 2001 by the FDIC after it had lost nearly all of its more than $2 billion of assets on bad loans to high-risk borrowers, federal regulators said.
Pritzker has avoided media attention over the past week as reporters covering the Obama campaign sought comment on the Fannie Mae and Freddie Mac debacle.
Pritzker also served as finance chair for Obama's Senate run, and supported him during his time in the Illinois state legislature.
One reason Pritzker may have been enamored with Obama was his willingness to press legislation that loosened state regulatory policies for land developers and multi-family property owners.
Pritzker is also known to be close to Obama adviser Valerie Jarrett, a former political operative for Mayor Richard M. Daley, and the CEO of a housing and development company based in Chicago with ties to Obama going back to his Illinois legislature days.
Jarrett, by the way, is now considered to be the top candidate to fill Obama's Senate seat should he be elected President.
Penny Pritzker, Obama's national finance chair was, with her family, the half owner of Superior Bank, which was shut down in 2001 by the FDIC after it had lost nearly all of its more than $2 billion of assets on bad loans to high-risk borrowers, federal regulators said.
Pritzker has avoided media attention over the past week as reporters covering the Obama campaign sought comment on the Fannie Mae and Freddie Mac debacle.
Pritzker also served as finance chair for Obama's Senate run, and supported him during his time in the Illinois state legislature.
One reason Pritzker may have been enamored with Obama was his willingness to press legislation that loosened state regulatory policies for land developers and multi-family property owners.
Pritzker is also known to be close to Obama adviser Valerie Jarrett, a former political operative for Mayor Richard M. Daley, and the CEO of a housing and development company based in Chicago with ties to Obama going back to his Illinois legislature days.
Jarrett, by the way, is now considered to be the top candidate to fill Obama's Senate seat should he be elected President.
posted by BP News Bureau | 12:45 PM
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