Barry O has yet another tie to the current fiscal crisis that you won't hear much about. Penny Pritzker is the Obama chief fundraiser for his campaign. She is personally responsible for the failure of Superior Bank in Chicago. The bank, under her guidance, focused primarily on sub-prime mortgages, which led inevitably to it's collapse.
....“the Superior story has a familiar ring. … Using a variety of shell companies and complex financial gimmicks, Superior’s managers and owners exaggerated the profits and financial soundness of the bank. While the company actually lost money throughout most of the ’90s, publicly it appeared to be growing remarkably fast and making unusually large profits. Under that cover, the floundering enterprise paid its owners huge dividends and provided them favorable loans and other financial deals deemed illegal by federal investigators.
Besides being at the center of a major contributing institution to our current financial mess, Ms Pritzker also hosted the Iranian Hitler, Ahmadinejad, at her NY hotel, some say 'with open arms'.
Barry has found yet another longtime aquaintance to throw under his bus.
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