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Obama's Connection to the subprime mortgage. Campaign Finance Chair women....

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Anonymous Coward
User ID: 433665
10/4/2008 2:08 PM
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Obama's Connection to the subprime mortgage. Campaign Finance Chair women....

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Penny Pritzker is Barack Obama’s chair for his campaign finance committee, sometimes also referred to as treasurer for Obama’s campaign finance committee.

Penny Pritzker is Barack Obama’s chair for his campaign finance committee, sometimes also referred to as treasurer for Obama’s campaign finance committee.

So Obama’s campaign finance committee’s chairwoman is hosting Ahmadinejad on Thursday at the Hyatt.

The Pritzker family, Penny in particular, were pioneers in creating a new financial product in the late 1990s and early 2000.

It was called the subprime mortgage.

Follow the yellow brick road.

Anonymous Coward
User ID: 433665 (OP)
10/8/2008 10:14 AM

Re: Obama's Connection to the subprime mortgage. Campaign Finance Chair women....	Quote

Anonymous Coward
User ID: 433665 (OP)
10/8/2008 10:18 AM

Re: Obama's Connection to the subprime mortgage. Campaign Finance Chair women....

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[link to en.wikipedia.org]

Penny Pritrzker CFR Connection

She is also a member of the Council on Foreign Relations.[12]

1987 – founded Classic Residence by Hyatt, now the market leader[citation needed] in luxury living for older adults.
1991 – named as Chair of Superior Bank of Chicago. Pritzker stepped down in 1994, but remained on the board until the thrift's collapse in July of 2001.

1991 – CEO of Pritzker Realty Group, overseeing all of the family’s non-hotel real estate investments. In this capacity she developed the Hyatt Center in downtown Chicago, the headquarters for Global Hyatt Corporation.

1998 – founded The Parking Spot, the fastest growing company in off-site airport parking management,[citation needed] with CEO Martin Nesbitt. She continues as chair.

2005 – became chair of TransUnion, a credit reporting agency.

Pritzker serves on the board of Global Hyatt Corporation. She was a board member and chair of the Governance

Committee of the William Wrigley Jr. Co. from 1994 to 2005, a director of the Marmon Group from 2002 to 2008, and a director of LaSalle Bank Corporation, now a part of Bank of America, from 2004 to 2007.

With a net worth estimated at $2.8 billion
Pritzker ranked 135th on the 2007 Forbes list of richest Americans.

Anonymous Coward
User ID: 433665 (OP)
10/8/2008 10:26 AM

Re: Obama's Connection to the subprime mortgage. Campaign Finance Chair women....

Quote

[link to en.wikipedia.org]

Ms. Pritzker has been associated with the Subprime mortgage crisis.

Ms. Pritzker's late uncle, Jay Pritzker, purchased a 50% stake in Hinsdale, Illinois-based Superior Bank of Chicago in 1989 from the Federal Deposit Insurance Corporation, which had taken over the bank when it failed in the late 1980s.[13] Penny Pritzker became chairman of the bank in 1991. Under Ms. Pritzker's chairmanship, the bank "embarked on a business strategy of significant growth into subprime home mortgages," according to a 2002 report by the United States Treasury Department.[13] She stepped down from the chairmanship (a largely titular role) in 1994 but continued to serve on the board of the holding company, Coast to Coast. In the months leading up to the 2001 seizure, the Pritzker family tried to work out a major recapitalization plan to "once again restore Superior's leadership position in subprime lending."[13] In July 2001, FDIC seized the bank after the recapitalization could not be resolved. .[14][15] Subsequently, the Pritzker family reached an agreement with regulators to pay $460 million over 15 years toward the costs of the closure; these funds will go towards reducing the costs of the FDIC's losses and partially reimburse depositors with accounts in excess of

Anonymous Coward
User ID: 433665 (OP)
10/10/2008 5:04 PM

Re: Obama's Connection to the subprime mortgage. Campaign Finance Chair women....	Quote

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