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Obama Did It For the Money
Posted on May 7, 2013
By Robert Scheer
The love fest between Barack Obama and his top fundraiser Penny Pritzker that has led to her being nominated as Commerce secretary would not be so unseemly if they both just confessed that they did it for the money. Her money, not his, financed his rise to the White House from less promising days back in Chicago.
Without Penny Pritzker, it is unlikely that Barack Obama ever would have been elected to the United States Senate or the presidency, according to a gushing New York Times report last year that read like the soaring jacket copy of a steamy romance novel. When she first backed him during his 2004 Senate run, she was No. 152 on the Forbes list of the wealthiest Americans. He was a long-shot candidate who needed her support and imprimatur. Mr. Obama and Ms. Pritzker grew close, sometimes spending weekends with their families at her summer home.
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. ..................(more)
The complete piece is at: http://www.truthdig.com/report/item/obama_did_it_for_the_money_20130507/
hobbit709
(41,694 posts)HereSince1628
(36,063 posts)is in the hands of such a small percentage of the population?
graham4anything
(11,464 posts)Completely predictable post.
hobbit709
(41,694 posts)hobbit709
(41,694 posts)kentuck
(111,111 posts)How dare you call a good Democrat a fanatic!
graham4anything
(11,464 posts)Mark Rudd now admits the 60s tactics were wrong
and according to his site, he fully supports Barack Obama and working to build it up
and not blow it up.
With age comes maturity and realizing life is not a movie about someone with an ugly mask on
looking like V for vengence.
hobbit709
(41,694 posts)You certainly sound like an ideological fanatic with your police and nanny state views.
progressoid
(50,052 posts)LonePirate
(13,461 posts)I am not comfortable with her nomination so I can't imagine the tea baggers are going to let this one slide.
JHB
(37,170 posts)(there, that ought to get them going. )
Tierra_y_Libertad
(50,414 posts)reformist2
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