Who is Penny Pritzker?

[audtatious]

So, Penny Pritzker is Obama's Finance Chairperson. Who is she?

The Pritzkers are one of the nation’s wealthiest families and heirs to the fortune created by the Hyatt hotels. She is currently Chair of the Classic Residence by Hyatt, serves on the board of Global Hyatt Corp, the chair of TransUnion and is on the Council of Foreign Relations (among a lot of other stuff as well).

In 1991 she became the chairman of Hinsdale, Illinois-based Superior Bank of Chicago. Under Pritzker's chairmanship, the bank "embarked on a business strategy (which failed for the people but not her pockets) of significant growth into subprime home mortgages," according to a 2002 report by the United States Treasury Department. The Prizker family tried to work out a major recapitalization plan to "once again restore Superior's leadership position in subprime lending." In July 2001, FDIC seized the bank after the recapitalization could not be resolved. This was right before the bank was seized.

In effect, if you read the history of her and her family you will see that she is in fact the pioneer of the sub-prime mortgage loan and started actively pressing, to the point of multiple failures and lawsuits, it until other financial corporations jumped the train.

What a wonderful selection for Obama to have on staff. Further insight into his "machine" to show he is NOT what people try to make him out to be.

[Encryptshun]

The Pritzker family is also one of the largest private philanthropy groups in the world.

The Pritzker prize for Architecture is among the worlds foremost awards in that field. They also support the Pritzker School of Medicine at the University of Chicago, operate the Pritzker Military Library, have donated the money to build satellite schools around Chicago, and were a primary contributor of funds to build Millenium Park, a monetary donation that would otherwise have been passed on to taxpayers.

[audtatious]

They have also given donations to both sides in past elections. I'm not saying the family or the group as a whole is bad in the least.

My main point of this thread is to point out where the start of sub-prime loans were in their relation to the Bush Administration which seems to always get the blame for it. It also should be a blow to those who think Obama is really for change as it seems to me everything he is "for" is simply the same Democratic talking points that prior candidates have had.

[AZhitman]

Let's keep one thing VERY clear:

The BENEFITS of the housing boom and the strong economy were NOT limited to one party or another.

Democrats got rich. Republicans got rich.

The over-extension of easy credit was NOT limited to one party or another.

Democrats got credit they otherwise wouldn't have had access to. So did Republicans.

So now, for the Left to all of a sudden sprint to one corner, finger-pointing and blaming, strikes me as pathetically hypocritical.

We all benefitted, we're all gonna have to pay the piper. You can't get drunk and party without a consequence, and now is "hangover time".

The difference is, only one side is absolving themselves of any blame or responsibility, conveniently forgetting that they too reaped the benefits, and that's just a joke.

[ishkabibble]

We all benefitted, we're all gonna have to pay the piper. You can't get drunk and party without a consequence, and now is "hangover time".

no no no no,

Housing is up!

Unemployment is down!

The Dow is up!

"The fundamentals of the American worker are strong" is straight talk!

Right?

[SteveTheTech]

The housing crisis ,in my opinion it comes down human greed, plain and simply the desire for people to have more money. They got away with it at the time because things were going wellish.

There seems to be little accountability for the people who bought houses with an adjustable rate mortgage at a low rate,with bad credit, and not enough money to pay of the rate inevitably goes up. There was a story about this woman who worked part time for minimum wage at Target and bought a $750,000 house, she was crying that she was going to loose her house since as the APR increased by 1% her payment was now more than 1 1/4 of her monthly income. You really need to read the fine print and buying a house is such a large purchase that every precaution needs to be made.Sorry for the hijacking but that just drives me nuts.

As for Pritzker is sounds like a pretty good stratigic move on the Obama camps part. A person like that would have contacts that he would not normally have access to.

I am not sure of the figures but I can only imagine that the amount of money she has brought to his campaign is pretty significant. I am sure as a philanthropist she would have complete knowledge on how the system works and how to stay on the right side of the law with still making money. Now is that such a bad idea?

[audtatious]

As for Pritzker is sounds like a pretty good stratigic move on the Obama camps part. A person like that would have contacts that he would not normally have access to.

That's one way to look at it. The other way is that he is supposedly the candidate for Hope and Change. How do you accomplish that when you bring in the same people that caused the mess in the first place?

You don't.

[ishkabibble]

Sure, they can Change it for the worse...

[AZhitman]

Right?

Don't make me come over there.

[audtatious]

Sure, they can Change it for the worse...

That is correct...

Now, let's dig deeper. Here is an interesting article that goes over the people who used/abuse fannie/freddie:http://www.fool.com/investing/....aspx

Not sure how people feel about the motleyfool site as It's generally not one I visit, anyway....

Out of the above, two people stick out: Franklin Raines and Robert Rubin. Both of these gents are associated with Obama along with Pritzker. Franklin Raines is Obama's advisor on Housing and Rubin is another financial advisor for middle-class something another.

Strange that three people who were/are involved with the sub-prime loan crisis are Obamas advisors? Hell, who else has ****ed up our economy and is currently trying to help lead Mr Hope and Change? These people made millions off the suffering of others and now, assuming Obama won, we are going to effectively turn the US economy over to them? WTF?

[SteveTheTech]

That's one way to look at it. The other way is that he is supposedly the candidate for Hope and Change. How do you accomplish that when you bring in the same people that caused the mess in the first place?

You don't.

I'm not you here I really agree with many of the things that you have written here, on the "Hope and Change" I loose it I really don't believe anything that comes from a politicians mouth during the election process, and maybe after that. It's the new version of the same old schpeel spewed by the Dems for the better part of recent history. I side with the Dems for my personal values, I just don't believe the change. Although I do think Mac will perpetuate the more of the same strategy, and Palin is enough for me to make up my mind.

After reading that article I have to say I feel saddened by the depth of greed, but the people that took on these loans should have known the inherent risk.

I mean I am not a finance person and I know very little about it, but it seemed like one of those things that was too good to be true. As with all things what goes up must come down.

At the time most people had no concept or did not take the risk seriously. The only thing we can do at this point is lick our wounds and learn from the past.

Who will make that happen?

Propaganda is one thing but real action is yet to be seen, and what would this be more bailouts?

Whatever it is will require a significant financial investment by someone.

[audtatious]

No issues.

I do think McCain will work towards sorting things out and I believe he pulled Palin in for multiple reasons including her desire to help work towards less spending and hopefully better energy choices. I don't see any change at all in Roe v Wade at any point so if you fear Palin from that perspective then it's a moot point. Worse case, things get stranded in Congress and the population really sees who needs to be replaced with those who will perform non-partisan politics for the good of us all. Realize I don't like numerous things about McCain but I see potential disaster in Obama.

[S13_love]

The housing crisis ,in my opinion it comes down human greed, plain and simply the desire for people to have more money. They got away with it at the time because things were going wellish.

Human greed...yes, but to be more specific, it was greedy investors on wall street and you know what...it worked, they made bank with these mortgages they handed out to people (who couldnt afford them), but i wonder how they are doing now

And wow...just about every recent post i have seen here in politics has been all about trashing obama, i think i am the only one here that is willing to vote for him (sigh)...but nonetheless its really starting to get annoying...ok i get it "obama sucks lolz, mccain is awesome...america will prosper with him and the milf in office...omg...lolz"

[audtatious]

You get kudo's for voting, regardless of who you vote for, and you are not alone here in supporting Obama.

[S13_love]

You get kudo's for voting, regardless of who you vote for, and you are not alone here in supporting Obama.

Yeah but i havent seen a obama supporter here in a long time though...

[audtatious]

A few of them have "turned" to McCain or is now voting 3rd party. A lot of us simply do not "know" what he is really about and his past associations are pretty scary for a Prez candidate.

[ishkabibble]

A few of them have "turned" to McCain or is now voting 3rd party.

Like me.

But there are Obama supporters around here... just a coincidence that not many are around the past couple of days. Also, the McCain supporters are more vocal than us lefties. Kind of like Hannity and Colmes. Or O'Reilly and Olbermann.

[S13_love]

"A few of them have "turned" to McCain or is now voting 3rd party."

ugh...thats what im fearing that has happened, but just as long their reason for doing that was legit and made up by their mind and not their d!ck, then i may understand

"A lot of us simply do not "know" what he is really about and his past associations are pretty scary for a Prez candidate."

But for me, thats how i feel about mccain. Nonetheless, i support obamas tax plan or whatever it is and his views 100%, and the fact is, republicans havent done the best job in the past 8 years (you know this), and i wont take a chance in voting for a republican for another term, im sure mccain can do good and things could get better (there's always that possibility it can get worse too), but to me, now is not the time to take that risk, thats my opinion and im gonna stand by it 100% and all that...

[audtatious]

thats my opinion and im gonna stand by it 100% and all that...

Which is why I'm not going to debate the issues you just posted as my time is valuable.

[SteveTheTech]

I am going to vote Dem this time for key personal values that the Republicans do not share. The Reps and I both love guns and gasoline,and fiscal policies that favor people who are financial responsible, but the Dems have freedom of religion and a slight glimmer of hope for change and they will not put a conservative judge on the Supreme Court to overturn R V. W.

There is a good chance that either of the candidates will offer something new for the future as our current course is leading us in an adverse direction. Plus I have very strong issues with Mac VP choice. Me and the one who can see Russia from her house do not agree on things.

Macs groupies are extremely vocal and pose a serious threat to the future of this country if they succeed. The ones that I have met that were "spreading the message" (co-workers mostly) do not have a legitimate argument for the key issues that face me and my family. There is nothing the Reps could do to win my vote at this time since I am more of a centrist and the Dems will at least try something although they are a little to green for me and I am not a fan of the tax plans proposed, I guess my moral values are worth more than my money. Oh well.

Although with that being said I still don't trust politicians they are all slinging BS and we are eating it up. Campaign promises are more giant clouds of smoke being blown up our collective as*es. At the end of the day you have to vote based on your moral beliefs and value. Damn I sound like a republican.

[AZhitman]

RvW will not be overturned, regardless of who is in office.

Your freedoms are much safer with a conservative in office, favoring smaller government, less governmental intrusion, and less limitation on personal liberties.

Just remember who said he wanted to "get us out of Iraq NOW" and turned around and illegally interfered with US negotiations.

While the media hasn't made a stink of it (gee, big surprise), it's a critical clue.

[ishkabibble]

Your freedoms are much safer with a conservative in office, favoring smaller government, less governmental intrusion, and less limitation on personal liberties.

You must be talking about Barr. McCain is not a true conservative. Actually, I'm not sure he even knows what he is these days.

[S13_love]

"RvW will not be overturned, regardless of who is in office."

"Your freedoms are much safer with a conservative in office, favoring smaller government, less governmental intrusion, and less limitation on personal liberties."

...Patriot Act?

"Just remember who said he wanted to "get us out of Iraq NOW" and turned around and illegally interfered with US negotiations."

He wants credit for the troop pullout, lol i would have done the same thing , so did bush give the generals the ok to start making a pullout plan?

"While the media hasn't made a stink of it (gee, big surprise), it's a critical clue."

All the hype right now been all about McCain/Palin lately...

[SmithSR]

Patriot Act?

How has this affected you?

[audtatious]

He wants credit for the troop pullout, lol i would have done the same thing , so did bush give the generals the ok to start making a pullout plan?

What he did is illegal and against the Constitution. Look it up. You going to give him a pass for breaking the law because you like him?

"While the media hasn't made a stink of it (gee, big surprise), it's a critical clue."

All the hype right now been all about McCain/Palin lately...

Yes it has and that's a convenient "out" from having to get into these issues that make Obama look bad.

[S13_love]

What he did is illegal and against the Constitution. Look it up. You going to give him a pass for breaking the law because you like him?

Yes it has and that's a convenient "out" from having to get into these issues that make Obama look bad.

He's not the only one who has done something against constitution imo... but yes, i will give him a free get out of jail card lol

And wow, republicans way to draw all the attention to yourselves, you had a chance to make obama look really bad for his campaign and you blew it

[audtatious]

So, because others have done things against the Constitution it's OK? What's the point of the Constitution then? Hell, his actions are directly against what he has stated in the past.

[S13_love]

So, because others have done things against the Constitution it's OK? What's the point of the Constitution then? Hell, his actions are directly against what he has stated in the past.

No...its not ok, sure i was being a little sarcastic but i can guarantee you that he wasnt the only one that has done something against the constitution...

Yeah his actions are against what he stated in the past...but...

remember Bush saying we need to break our so called "oil addiction"...um didnt he just recently give the ok to do offshore drilling in florida?

Obama is now more of a president than he ever was

[SmithSR]

"Foreign oil addiction"

??

EDIT: "Imported oil addiction" 2006.

And,

Stop trolling.

[S13_love]

...was it foreign!?!?....hmmm i guess i'll have to look back on that state of the union which he mentioned that and see what he exactly said

but i'll do that some other time