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Thu Feb 7, 2013, 08:27 AM

Obama close to nominating Penny Pritzker for Commerce

Source: The Hill


Report: Obama close to nominating Penny Pritzker for Commerce
By Jonathan Easley - 02/06/13 06:34 PM ET
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President Obama is close to nominating billionaire Chicago businesswoman Penny Pritzker as his next Commerce secretary, according to a Bloomberg report released late Wednesday.

The report noted that Obama has not yet made a final decision.

Pritzker, who made her fortune building Hyatt Hotels, was an Obama fundraiser in 2008. She’s viewed as a favorable choice among business leaders who have been critical of Obama for a lack of chief executives in the higher ranks of his administration.

The Commerce secretary has seen considerable turnover under Obama.

Gary Locke departed in August 2011 to become U.S. ambassador to China.

In October of that year, businessman John Bryson, former chief executive and president of Edison International, was confirmed to replace him, but left after a car accident in California that was apparently caused by a seizure. He took a medical leave of absence and resigned shortly after.


http://thehill.com/blogs/blog-briefing-room/news/281575-report-obama-close-to-nominating-billionaire-businesswoman-pritzker-for-commerce-secretary



Read more: http://thehill.com/blogs/blog-briefing-room/news/281575-report-obama-close-to-nominating-billionaire-businesswoman-pritzker-for-commerce-secretary

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Reply Obama close to nominating Penny Pritzker for Commerce (Original post)
KoKo Feb 2013 OP
DURHAM D Feb 2013 #1
proud2BlibKansan Feb 2013 #2
BVictor1 Feb 2013 #3
madrchsod Feb 2013 #9
BVictor1 Feb 2013 #15
blueclown Feb 2013 #4
nyy1998 Feb 2013 #5
mojowork_n Feb 2013 #7
Octafish Feb 2013 #21
JDPriestly Feb 2013 #22
madrchsod Feb 2013 #8
appacom Feb 2013 #14
mojowork_n Feb 2013 #17
erpowers Feb 2013 #20
empire we are Feb 2013 #6
Fuddnik Feb 2013 #10
slackmaster Feb 2013 #11
Cal Carpenter Feb 2013 #12
TomCADem Feb 2013 #13
Arkana Feb 2013 #16
erpowers Feb 2013 #18
FreeBC Feb 2013 #19
MzNov Feb 2013 #24
MzNov Feb 2013 #23
GoCubsGo Feb 2013 #25
Fuddnik Feb 2013 #28
GoCubsGo Feb 2013 #29
erpowers Feb 2013 #31
GoCubsGo Feb 2013 #33
erpowers Feb 2013 #34
GoCubsGo Feb 2013 #35
robinlynne Feb 2013 #26
KoKo Feb 2013 #27
grantcart Feb 2013 #32
fujiyama Feb 2013 #30

Response to KoKo (Original post)

Thu Feb 7, 2013, 08:57 AM

1. oh yuck...

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Response to KoKo (Original post)

Thu Feb 7, 2013, 09:00 AM

2. Good grief. This really sucks.

What a HORRIBLE woman and an even worse nomination.

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Response to KoKo (Original post)

Thu Feb 7, 2013, 09:22 AM

3. "Pritzker, who made her fortune building Hyatt Hotels"

 

I thought she made it by waiting for daddy to die?

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Response to BVictor1 (Reply #3)

Thu Feb 7, 2013, 10:42 AM

9. the family had a big dust up several years ago

penny got a billion and change after the dust settled

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Response to madrchsod (Reply #9)

Thu Feb 7, 2013, 11:37 AM

15. I remember.

 

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Response to KoKo (Original post)

Thu Feb 7, 2013, 09:25 AM

4. Another member of the lucky sperm club.

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Response to KoKo (Original post)

Thu Feb 7, 2013, 10:09 AM

5. Can someone tell me why she's a bad choice? Besides the fact she inherited her wealth?

Which btw is a lousy reason to dismiss her.

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Response to nyy1998 (Reply #5)

Thu Feb 7, 2013, 10:23 AM

7. From an interview with Greg Palast

http://www.opednews.com/articles/Part-2-Greg-Palast-ntervie-by-Rob-Kall-121106-930.html

Talk a little bit about the Obama Billionaires. You said there are seven of them.

Greg Palast: Yes, Obama has his billionaires,too. And remember, Obama crushed McCain in terms of money from big finance. Banks were the oil companies for the 2008 election and they all went for Obama. And why? First of all, who ever heard of Barack Obama, which means "the one we've been waiting for," right, the blessed one, we've been"well who was waiting for him? Who ever heard of this guy? And not many people go in four years from the cesspool known as the Illinois State Legislature, to the Oval Office. Someone picked him out, and that was Penny Pritzker. Penny Pritzker is a rogue banker billionaire. She ran, she owned something called Superior Bank on the South side of Chicago, which virtually invented the sub-prime loan: the worst racist, steering, predatory lending foreclosures... It was basically a vampire bank. It was so bad that the Feds closed it down (if you can believe it), they actually shut that bank down because of its predatory practices and fined Penny Pritzker four hundred million dollars personally. I don't think the federal government's ever fined one person four hundred million dollars, except for Penny Pritzker. But, for Penny that was pennies, because she's worth about 3 billion. She decided to take the local state senator, who represented the victims of her bank...

...A guy named Barry Obama, and move his district to the Gold Coast, where she and the rich people live, including Jamie Dimon of JP Morgan, and introduced him to the bankers like Robert Rubin, JP Morgan, Dimon, and the rest, and funded him up the wazoo into the U.S. Senate and then on into the campaign trail with the idea, the bankers all joined in, with the idea that, you know, since there was such a public reaction, almost impossible or any Republican to get elected, so what they needed was a guy who would be the bankers toy boy, and they got him. And you know, remember within a couple days of Obama's election he did something quite extraordinary.

He named his economic cabinet. He named Mary Summers, because Summers as Economic Czar because Summers could never be confirmed. He named Tim Geithner, the most incompetent, tin-head Secretary of Treasury we've ever had in America, since Alexander Hamilton, and these guys worked for Robert Rubin of Citibank, who deregulated the banks under Clinton, made a hundred and ten million dollars payoff from Citibank. They couldn't use him because he was dirtied with all the bailout money, so they brought in his little toadies, Geithner and Summers.


edit to add link:

http://blogs.suntimes.com/sweet/2008/04/obamas_billionaire_finance_cha.html

...at least some of the 1,400 victims who are still owed money seven years after the bank failed say Pritzker is the wrong person for Obama to put in charge of the campaign's finances when part of his campaign is about reforming the banking industry.

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Response to mojowork_n (Reply #7)

Thu Feb 7, 2013, 01:14 PM

21. Throw Palast under the bus.

Thanks for the heads-up, mojowork_n.

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Response to mojowork_n (Reply #7)

Thu Feb 7, 2013, 02:55 PM

22. Thanks. Not a bad analysis.

But -- the Commerce Dept. usually goes to some big business figure.

Talk about paying back campaign donors!

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Response to nyy1998 (Reply #5)

Thu Feb 7, 2013, 10:40 AM

8. anti union oligarch

the word is in chicago is she was responsible for killing card check. her hotels have been trying to unionize for years and she uses the power of her name and democratic connections to suppress them.

another democrat in name only from the oligarchy in the state of illinois.

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Response to nyy1998 (Reply #5)

Thu Feb 7, 2013, 11:26 AM

14. Ditto. Its the billionaire class that needs to join the party.

Who better able to hand deliver the invitation than one of them?

All rich people are not the devil. Some are as progressive as any here. In fact, rich people (i.e., National Network of Grantmakers) make much of our movement for social change possible.

In thousands of communities throughout this country, activists and donors are actually doing something about issues only being talked about here.

If Obama, the community activist, selected her, then you can take it to the bank that she shares a fundamental belief that change requires redistribution of wealth - in the other direction. (That's what this discussion is really all about though nobody wants to say it.)

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Response to appacom (Reply #14)

Thu Feb 7, 2013, 12:00 PM

17. Ditto? ...Except it could be the other way around.

I wouldn't have recognized her name -- (who? Paula Prentiss? Parker Posey? { http://www.newyorker.com/online/blogs/culture/2012/09/in-praise-of-parker-posey.html} ) -- except Greg Palast mentioned her in "Billionaires and Ballot Bandits."

The reference in that book was to some luxury nursing home franchise (again, that's no longer operating under her direction) and "Superior Bank" was a story I wasn't familiar with.

But it sounds like "Obama, the community activist..." DID NOT select *her.* It was the other way around. She funded him. (Go up to the link for the Palast interview and see the whole story.)

The track record with that Chicago bank doesn't make for great reading. It wasn't all about redistributing wealth downwards. Just the opposite.

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Response to KoKo (Original post)

Thu Feb 7, 2013, 10:19 AM

6. Obama's Cult of Personality masks

who he really works for.

The Oligarchs

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Response to empire we are (Reply #6)

Thu Feb 7, 2013, 10:47 AM

10. Obama is a modern day Judas Iscariot.

He's sold out everyone who ever worked their asses off to get him elected.

The Kabuki Theater will continue, as nothing is done to help the working class. Blame everything on intransigent Republicans. But, it's all a game. Could Romney have nominated a worse person for his cabinet, say other than Ed Meese?

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Response to KoKo (Original post)

Thu Feb 7, 2013, 10:52 AM

11. Penny Pritzker is one of the few honorary female members of the Chicago Old Boy's Club

 

I'm pissed off at her because of the poor manner in which TransUnion handled my dispute with Bank of America over incorrect information in my credit history.

Experian fixed the problem much faster, and Equifax actually gave me expert guidance. TU just sucked.

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Response to KoKo (Original post)

Thu Feb 7, 2013, 10:54 AM

12. A billionnaire named 'Penny'

Awww how charming.

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Response to KoKo (Original post)

Thu Feb 7, 2013, 10:58 AM

13. She's a woman, so of course McConnell will filibuster

So, lets look to who will replace her.

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Response to KoKo (Original post)

Thu Feb 7, 2013, 11:38 AM

16. Eh, it's Commerce. It's not like he put her at Treasury.

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Response to KoKo (Original post)

Thu Feb 7, 2013, 12:37 PM

18. He Should Not Nominate Her

President Obama should not nominate anyone for any position that raised money for him. Mrs. Pritzker has been one of President Obama's biggest fundraisers. In the 2012 election cycle Mrs. Pritzker raised $500,000 for President Obama's campaign. She also raised money for President Obama in the 2008 election cycle.

Even if it is not actual crony capitalism it looks bad. President Obama should nominate someone who was not that close to his campaign.

http://online.wsj.com/article/SB10001424127887323951904578288812645032192.html?mod=googlenews_wsj

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Response to KoKo (Original post)

Thu Feb 7, 2013, 12:39 PM

19. Check out the post on her from Crooks and Liars

 

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Response to FreeBC (Reply #19)

Thu Feb 7, 2013, 03:50 PM

24. ah, great minds. You got there before I could


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Response to KoKo (Original post)

Thu Feb 7, 2013, 03:49 PM

23. Is this a joke?

from Crooks and Liars.com

http://crooksandliars.com/susie-madrak/billionaire-tax-avoider-penny-pritzke

"Penny Pritzker, union buster.
Penny Pritzker, sub-prime lender who drove Superior Bank into the ground.
Penny Pritzker, Chicago Board of Ed members who thinks your children only deserve enough education to make them a member of the workforce.
Penny Pritzker, billionaire tax dodger.
Penny Pritzker, potential Secretary of Commerce nominee? Is this a joke? . . . . "

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Response to KoKo (Original post)

Thu Feb 7, 2013, 03:54 PM

25. Just like he was "close to nominating" Susan Rice as Secretary of State.

Except that from everything I have been reading, John Kerry was his choice all along. Because the Bloomberg Report says this is the case does not make it so. I'll wait until the President actually nominates someone before I wring my hands and gnash my teeth.

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Response to GoCubsGo (Reply #25)

Thu Feb 7, 2013, 10:03 PM

28. Never believe anything until it hits you upside the head.

And it's too late to do aanything.

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Response to Fuddnik (Reply #28)

Thu Feb 7, 2013, 11:02 PM

29. I believe in facts, not speculation.

If you want to spend your time tying yourself in knots over "what if's", be my guest. I have better things to do with my time.

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Response to GoCubsGo (Reply #25)

Fri Feb 8, 2013, 03:19 AM

31. Rice Withdrew From Nomination Process

Didn't President Obama himself, or at least people in his administration say his choice for Secretary of State was Susan Rice? It seems there was speculation that he would nominate Rice and then the administration confirmed he would nominate her, but after the Republican backlash she withdrew her name from the nomination process.

If President Obama planned to nominate Senator John Kerry as Secretary of State from the start why defend Susan Rice? He defended Rice on a number of occasions. Why go through the cloak and dagger routine if Kerry was his choice to begin with? He could have easily said he was not considering Rice for the State job. There was no reason to even pertend Rice was going to be nominated if his first choice was Kerry. From almost the beginning it was clear that a Rice nomination would anger Republicans and that they wanted Kerry to be nominated. Why get into a useless fight if he never intended to nominate Rice?

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Response to erpowers (Reply #31)

Fri Feb 8, 2013, 07:59 AM

33. John Kerry said he got the appointment before that.

Last week, he said he was offered the job a week before Rice withdrew her name. And, I never heard the President say that Susan Rice was his first choice. I only heard him agree with media speculators who said she was being considered. Big difference. The notion that she was his first choice was media speculation. Yes, he defended Rice. So what? She is his UN Ambassador. He should defend her.

As for the "cloak and dagger" allegations, he has been keeping EVERY nomination quiet. Did you know he was going to pick the CEO of REI as Interior Secretary? No? Neither did anyone else. He is in this "useless fight" because the republicans tried to drag him into it. The fact that he took his time, and kept his choices quiet until the last minute tells me that he doesn't want to play that game.

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Response to GoCubsGo (Reply #33)

Sat Feb 9, 2013, 07:02 AM

34. Cloak and Dagger

President Obama did not have to do the cloak and dagger routine with the State nomination. It was well known from the moment Susan Rice was mentioned that Republican were willing to vote for John Kerry. What fight did President Obama get once Senator Kerry was nominated? If Kerry was President Obama's first choice for State he could have made that statement.

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Response to erpowers (Reply #34)

Sat Feb 9, 2013, 07:51 AM

35. LOL!

No. It's not "cloak and dagger". It's called doing things on his own terms. Again, he hasn't made any sort of "statement" about ANY of his cabinet members. But, you feel free to believe whatever you want.

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Response to KoKo (Original post)

Thu Feb 7, 2013, 05:05 PM

26. why not a consumer advocate for commerce?

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Response to robinlynne (Reply #26)

Thu Feb 7, 2013, 09:02 PM

27. I don't think "advocates" is what Obama's been looking for.

Supposedly he's very "pragmatic" and doesn't like folks who are "advocates." He prefers compromise and getting along.

It does seem to be the way he works..that I've seen from him, anyway.

I do hope that his friend and benefactor "Penny" was just a Trial Balloon from his Administration, though.

I think that it doesn't look good for him to give her a plush job as reward for her financing him from Senator on up.

I'm sure others will disagree...but, it just doesn't look good on the face of it or even policy to do this. But...it's his choice. We shall see.

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Response to KoKo (Reply #27)

Fri Feb 8, 2013, 04:52 AM

32. lol see Senator Warren who was the strongest consumer advocate on public policy.

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Response to KoKo (Original post)

Thu Feb 7, 2013, 11:13 PM

30. The commerce department is sort of useless anyways

I honestly think we could eliminate it and our government would operate just fine. It'd be a nice way to save on a cabinet position that is typically given to some hack-big dollar donor anyways. Some of the functions could be distributed across various other departments (like say the SBA could be taken by the Treasury).





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