Obama; Your Finance Chair Pritzer, cost investors over $1 Billion (Congress, campaign, biased)

[sanrene]

Hyatt Hotel Family Will Pay $460 Million in S.& L. Case - New York Times

The Pritzkers, one of the nation's wealthiest families and heirs to the fortune created by the Hyatt hotels, agreed today to pay a record $460 million to the federal government to avoid being punished for the failure of Superior Bank F.S.B., the big savings and loan institution that regulators seized last summer.

Federal officials said the payment, which will be spread out over 15 years, is the largest settlement ever in the failure of a banking institution. The failure itself is one of the largest in the last decade, one that some estimate could cost the government up to $1 billion.

OTS Closes Superior Bank FSB; Hinsdale, Ill. Thrift is Insolvent

As of March 31, 2001, the failed bank had total assets of $1.9 billion and total deposits of $1.5 billion. FDIC insures depositors’ accounts up to the statutory limit of $100,000.

Superior is the only bank that OTS has closed in 2001, and only the fourth OTS-regulated institution closed in the past five years.

This is a potential Treasury Secretary if Obama wins the WH. Where is the biased MSM on this story?

[delusianne]

Actually here is a real-world list of speculative Treasury Secretaries:

Deal Journal - WSJ.com : Obama's Treasury Secretary: Geithner versus Wall Street?

[delusianne]

Penny Pritzer is his campaign finance chairman, and looks to me and the rest of the planet as if she's doing pretty well at that.

http://www.opensecrets.org/pres08/index.php

[brokerdave]

once again obama simply lacks the experience and understanding of what his role would be. he doesn't even know how to hire reputable people.

[delusianne]

Originally Posted by brokerdave

once again obama simply lacks the experience and understanding of what his role would be.

What do you mean? He hired a person to manage his campaign finances, and she's done a spectacular job, see above Open Secrets link.

[SGrey]

Originally Posted by brokerdave

once again obama simply lacks the experience and understanding of what his role would be. he doesn't even know how to hire reputable people.

Compared to who? The people McCain hired? You really don't want to go there do you because you couldn't walk away from that one without McCain looking as bad if not worse. They both have questionable people in their campaigns.

[sanrene]

He has as his advisors some of the players that are knee-deep in the financial debacles.

Raines, brought Fannie and Freddy to it's knees, is an Obama advisor. Johnson, countrywide executive, Pritzer. The list goes on.

No big deal, just move along, right?

[WillysB]

A BILLION dollars ? ? ? That's just the kind of change we're looking for.

He ['bama] also fails to mention that one of the first subprime lenders to stick it to borrowers and have her bank seized is a woman named Penny Pritzker, who just happens to be Barack Obama’s campaign Finance Chair (as confirmed on April 3, 2008) and a potential Secretary of the Treasury in an Obama administration.

Among their other endeavors, the Pritzkers were the owners of Superior Bank in Hinsdale, Illinois when it was seized.

Penny Pritzker, Barack Obama’s great Chicago (of course!) friend was a pioneer you might say! She was a failed subprime lender who set the tone all the way back to 2001. She did it before it was even in style

[SGrey]

Let's see.

• Wayne Berman, a lobbyist for the financial industry whose clients include(d) the Carlyle Group and Citigroup.
• Former Rep. James A. Courter, CEO for IDT; previously a lobbyist for Verner, Liipfert, Bernhard, McPherson and Hand from 1998 to 2001 which included clients like Merrill Lynch, NBC, Lockheed Martin, Microsoft, Goldman Sachs, and SBC.
• Christian Ferry who worked as a lobbyist for Davis Manafort. Clients included SBC Communications and Verizon Communication Inc.
• David Crane, lobbyist whose clients included Bank of America.
• James F. Rill, former lobbyist and senior partner for Collier, Shannon, Rill & Scott.

And the Coup de Gras:

• Aquiles Suarez, former lobbyist (last lobbied in 2007) for Fannie May from 2003-2006 where he was also, surprise surprise the director for government and industry relations.
• Rick Davis of Davis Manafort Inc which has made at least $2.8 million lobbying Congress and also just happens to be the former president of the Homeowner's Alliance which again just happens to be a Freddie/Fannie advocacy group who has tried to fend of regulation by banks and lenders.
• Charles Black, a lobbyist and chairman of BKSH. Clients include(d) WaMu, GM, United Technologies, JPMorgan and AT&T and formerly Freddie Mac for several years up until 2005.
• Carlos Bonilla, who did leave the campaign in May but is/was a lobbyist whose former clients include Freddie Mac, Time Warner, and Motorola.
• Tom Loeffler who before he quit was a lobbyist who had recieved approximately 15 mill for lobbying for Saudi Arabia to speak nothing of other money he got.

Shall I go on? There are plenty more not to mention that McCain too took money from Freddie/Fanny - 21k to Obama's 120k. Less but doesn't discount that he did.

But no big deal right? Move along?

[walidm]

Originally Posted by brokerdave

once again obama simply lacks the experience and understanding of what his role would be. he doesn't even know how to hire reputable people.

Do you really want to travel this road? The list of folks who support Senator McCain that are currently embroiled in this financial mess stretches 26 years. You're going to run out long before we hit the first turn.