If you are Barack Obama, the answer is "Yes."
Superior Bank failed in 2001--1,400 customers lost money after it collapsed. Pritzker left her position as chairwoman in 1994, but moved up to the board of the bank's holding company.
According to the Chicago Sun-Times' Lynn Sweet, Pritzker was not an absentee board member:
But a letter obtained by the Chicago Sun-Times shows that until the end, Pritzker appeared to be taking a leadership role in trying to revive the bank with an expanded push into subprime loans.
Pritzker wrote in May 2001 that her family was recapitalizing the bank, and she pledged to "once again restore Superior's leadership position in subprime lending." The bank shut down in July 2001.
Pritzker's attorney Kevin Poorman and Obama's campaign spokesman emphasized that not all "subprime lending" is the "predatory" kind that Obama and White House rival Hillary Clinton rail against. The kind of subprime lending Superior was doing in 2001 was not predatory, Poorman said.
Pritzker's family made billions operating the Hyatt Hotel chain; she is currently the chairwoman of Classic Residence by Hyatt. Pritzer was the Obama campaign's national finance chair.
She's also another Obama crony with a questionable background.
UPDATED 11:27am CST: The Chicago Tribune's Swamp blog (link coming-I am on my Blackberry) is reporting that Pritzker turned down the Commerce offer.
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6 comments:
I keep thinking it can't get any worse, but it does.
Daschle, Emanuel, Craig, Pritzker, Axelrod, Ayers.
God help us...
Broken Arrow, my friend. Broken Arrow.
Sky King and Penny!
Does President elect have any idea
what in the world he is doing? I
think not. Hey Ayers pass the rubber cement.
Well, here is a comment on one of the Democrat's favorite subjects, women's clothing. I know a woman who worked on Oak Street during the '80s and I'll never forget the day she announced that she had just sold a $5000 sweater to Penny Pritzker. I had no idea that such a sweater even existed, I mean I think that you could have outfitted Bill Cosby for the better part of a season for $5000 back then.
If these reports concerning a Cabinet position are true I would think that Ms. Pritzker didn't want the Feds and the Senate digging through every inch of her life, no matter how well dressed she is.
Obama should be thinking instead
of Stinking!
Rubenberry Pundit O'Tool.
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