georgephillip
Diamond Member
Wall Street's shining Black Knight picked Penny Pritzker for his Commerce secretary in spite of the subprime securities the Hyatt princess left in her wake.
Robert Scheer:
"But dont sell the lady short; she wasnt swept along on some kind of celebrity joyride. Pritzker, the billionaire heir to part of the Hyatt Hotels fortune, has long been first off an avaricious capitalist, and if she backed Obama, it wasnt for his looks.
"Never one to rest on the laurels of her immense inherited wealth, Pritzker has always wanted more.
"Thats what drove her to run Superior Bank into the subprime housing swamp that drowned the institutions homeowners and depositors alike before she emerged richer than before.
Pritzker and her family had acquired the savings and loan with the help of $600 million in tax credits. She became the new banks chairwoman and ended up as a director of the holding company that owned it.
"Under her leadership, Superior specialized in subprime lending, hustling folks with meager means and poor credit into high interest loans that were bundled into the toxic securities that wrecked the U.S. economy."
Robert Scheer: Obama Did It for the Money - Robert Scheer's Columns - Truthdig
Surely, it will all get better when Republicans move back into the White House?
Robert Scheer:
"But dont sell the lady short; she wasnt swept along on some kind of celebrity joyride. Pritzker, the billionaire heir to part of the Hyatt Hotels fortune, has long been first off an avaricious capitalist, and if she backed Obama, it wasnt for his looks.
"Never one to rest on the laurels of her immense inherited wealth, Pritzker has always wanted more.
"Thats what drove her to run Superior Bank into the subprime housing swamp that drowned the institutions homeowners and depositors alike before she emerged richer than before.
Pritzker and her family had acquired the savings and loan with the help of $600 million in tax credits. She became the new banks chairwoman and ended up as a director of the holding company that owned it.
"Under her leadership, Superior specialized in subprime lending, hustling folks with meager means and poor credit into high interest loans that were bundled into the toxic securities that wrecked the U.S. economy."
Robert Scheer: Obama Did It for the Money - Robert Scheer's Columns - Truthdig
Surely, it will all get better when Republicans move back into the White House?