With all the "Challenging News for Obama" will Penny Pritzker Break into Obama's Cabinet?

[KoKo]

Last edited Wed May 15, 2013, 08:35 PM - Edit history (2)

Billionaire Bankster Penny Pritzker Breaks into Obama’s CabinetBy Greg Palast



You made fun of me when I suggested that President Barack Obama would nominate a confessed bank scammer, a loan-sharking mortgage predator, to his cabinet. But thar she blows!

Today, Obama has named Penny Pritzker Secretary of Commerce. As the President says, It's a milestone: the first female fraudster to hold that post. No longer will criminal bankers have to lobby the administration - because now they'll have one of their own in the Cabinet.

The following is taken from the Chapter, "Penny's from Heaven?" you'll find in my bestseller, Billionaires & Ballot Bandits. [/]

We never heard of this guy Barack Obama until 2004. Less than three years before taking the presidency, he was in the Illinois state senate, a swamp of scammers, backhanders, and party machine tools - not a stellar launch pad for the White House. And then, one day, state Sen. Barack Obama was visited by his fairy godmother. Her name is Penny Pritzker.

Pritzker's net worth is listed in Forbes as $1.8 billion, which is one hell of a heavy magic wand in the world of politics. Her wand would have been heavier, and her net worth higher, except that in 2001, the federal government fined her and her family $460 million for the predatory, deceitful, racist tactics and practices of Superior, the bank-and-loan-shark operation she ran on the South Side of Chicago.

Superior was the first of the deregulated go-go banks to go bust - at the time, the costliest failure ever. US taxpayers lost nearly half a billion dollars. Superior's depositors lost millions and poor folk in Sen. Obama's South Side district lost their homes.

Penny did not like paying $460 million. No, not one bit. What she needed was someone to give her Hope and Change. She hoped someone would change the banking regulators and the Commerce Department so she could get away with this crap.

Pritzker introduced Obama, the neophyte state senator, to the Ladies Who Lunch (that's really what they call themselves) on Chicago's Gold Coast. Obama got lunch, gold and better - an introduction to Robert Rubin. Rubin is a former Secretary of the Treasury, former chairman of Goldman Sachs and former co-chairman of Citibank. Even atheists recognized Rubin as the Supreme Deity of Wall Street.

Rubin opened the doors to finance industry vaults for Obama. Extraordinarily for a Democrat, Obama in 2008 raised three times as much from bankers as his Republican opponent.

So what did Citibank's Rubin get for showering Obama with gold? Obama agreed to take care of Rubin's poodles, Larry Summers and Tim Geithner. They became Obama's first cabinet picks: Summers as Economics Czar and Geithner as his czarina, Secretary of the Treasury.

Geithner and Summers were the gents who, under Treasury Secretary Rubin, designed the deregulation of banking. In effect, they had decriminalized the kind of financial flim-flammery that brought the planet to its knees while bringing Rubin, Pritzker and the banksters loads of lucre.

So, in 2008, Summers and Geithner were put back in the saddle - Obama's horse but Rubin's saddle.

Rubin received more than $100 million from Citigroup, the gargantuan commercial bank/investment bank/casino created by deregulation. It is worth a mention that Rubin's centi-million-dollar payoff went unchallenged by Citi's new owner, the US Treasury, which had put up more than a trillion dollars in loans and guarantees to pull Rubin's creature out of bankruptcy.

More at.....http://www.nationofchange.org/billionaire-bankster-penny-pritzker-breaks-obama-s-cabinet-1367591751

[AnotherMcIntosh]

1. This is from the Onion, right?

[newfie11]

3. Written by Greg Palast

I don't think so

[newfie11]

2. OMG I've been had!!

If this is true, what the hell do you do?

[AnotherMcIntosh]

4. It's OK. This Chicago billionaire hotel heiress is a major campaign donor.

Obama seems to be familiar with her.



Some in Chicago are also familiar with her.

Striking Chicago teachers protested in front of a Hyatt hotel owned by the Pritzker family in 2012. Pritzker sat on the Chicago Board of Education until her resignation in March.

Additionally, UNITE HERE’s Chicago chapter, Local 1, slammed Pritzker for decreasing her property tax burden when the city was running huge deficits and cutting services and teacher benefits. The Pritzker family and its business interests appealed its property tax rates more than 70 times since 2003, according to a UNITE HERE study. Pritzker succeeded in lowering the assessment on her $10.4 million mansion “every year from 2006 to 2009, including a 62 percent reduction in 2006 and a 42 percent reduction in 2009.”
...
“When billionaires pay less taxes, we all pay the price,” Linda O’Neal, a waitress with three children, said in a union press release. “I don’t make the kind of money the Pritzkers make, but I pay my fair share of taxes. It’s time for Chicago’s wealthiest family to stand up and stop hurting our communities.”

http://freebeacon.com/a-penny-earned/

[newfie11]

5. +1. Nt

[KoKo]

6. OMG...well...don't know what to say about that..

but...it's telling. He owes his Presidency to Her........from all the articles from Chicago Tribune and those other reports we ignored when he was running.

It's Pay Back Time....

And...so many Democrats feel this is a "Good Thing".... That's the most disturbing...to me as an older Life Long Democrat...who thought I'd seen it all... Obviously...I didn't know what ELSE was coming....

I had hoped and worked for better all these years.

[AnotherMcIntosh]

8. I, too, am amazed. What can anyone say?

Fooled ya.

[lunasun]

16. He still needs to pay back that big nuke co. in IL that donated big time too I bet

maybe later

[duffyduff]

21. This is a case of a fox guarding the chicken coop.

There is nothing good about this appointment.

Furthermore, you know there are other banksters who have bankrolled this president.

[Marr]

36. Remember when he was overheard saying he'd have "more flexibility" in his second term?

Well, that's what we've been seeing over the last few months. A push to cut Social Security and bigger, wetter, sloppier kisses for Wall Street.

[WorseBeforeBetter]

7. Hope and change, ba-by. (n/t)

[KoKo]

10. Might I add..."Bye Bye Baby!"....I think there was a tune named "Bye, Bye Baby"

but, I can't remember who sung it...but something from the past.

I think it's from WAAAY BACK...

[Addison]

9. Great news!

For bankers.

[forestpath]

11. Did Obama ever meet a sleazy corporate crook he didn't love?

[Savannahmann]

13. +1,000,000

[duffyduff]

20. That is his constituency.

It certainly isn't the "little people."

[Skittles]

14. fucking DISGUSTING

[PufPuf23]

15. Shameful. Blatant. Blah. Blah.

Palast is one of the few good journalists left.

[lunasun]

17. He brought up her past ripping off the poor

n 2001, the federal government fined her and her family $460 million for the predatory, deceitful, racist tactics and practices of Superior, the bank-and-loan-shark operation she ran on the South Side of Chicago.

Superior was the first of the deregulated go-go banks to go bust - at the time, the costliest failure ever. US taxpayers lost nearly half a billion dollars. Superior's depositors lost millions and poor folk in Sen. Obama's South Side district lost their homes.

glad he brought up some of the past local shit so people can see what soon may go on in a bigger arena now

[KG]

18. can't wait for the palace guard to explain how this a great thing, a chess move mere mortals

couldn't possibly understand, he didn't want to appoint her but he had to, blah, blah, blah...

[KoKo]

25. I checked out "Daily Kos" there were three posts...pretty quiet...some replies

remembered "Chicago News" and Greg Palast's earlier reporting along with Black Agenda Website's reports about Pritzger's connection to Obama from his early days.. but so many seemed to be unaware of her background and connection to the President.

It's sort of like a "ho hum" thing. Like we all should have known..."so it's nothing to see here...just move along."

There's a lot to see there...and those of us who voted for him twice shouldn't ignore this ..when he's just appointed her to head the Commerce Department when he said in 2012 he wanted to "Reorganize." Especially since we know that Repugs want to get rid of all Fed Agencies. It's been on their agenda for years. I worry that Pritzger is put in there to complete a "Big Business Agenda" that will make Repugs Happy for years! AND...cause more problems for our Dem Party down the road.

[duffyduff]

19. She's another loser like Duncan, et al. n/t

[Tierra_y_Libertad]

22. Obviously, the government offered her a better deal than the Mafia.

[metalbot]

29. The two aren't mutually exclusive. nt

[KoKo]

33. OMG..Mafia? Oops...just read the Pritzgers are into Gambling....

Is it time to dust off "The Godfather?" Parts 1-3?

I have wondered why it is we never hear about "Organized Chrime" in MSM these Days...which the RW used to Rail about constantly.

Is it because "Organized Crime" took over Both Parties?

[AnotherMcIntosh]

23. Here's an important truth from Greg Palast worth repeating:

"We never heard of this guy Barack Obama until 2004. Less than three years before taking the presidency, he was in the Illinois state senate, a swamp of scammers, backhanders, and party machine tools - not a stellar launch pad for the White House. And then, one day, state Sen. Barack Obama was visited by his fairy godmother. Her name is Penny Pritzker. "

[KoKo]

31. I hope he "threw her out to the Wolves" to expose the corruption of the Powerful

like Pritzger.

But, every time I think Obama is REALLY playing 3 Dimensional Chess...he lets me down. So ..I figure this is PAY BACK TIME for PENNY. And that he just "HAS" to do this like he said he'd let the Airlines off the Hook for Sequester Cut Backs...in his Presser last week where he said: "If I don't do this they will blame it on ME!"

Meanwhile the rest of the Govt. is cutting and workers and inspectors for food safety, school aids, teachers, health aides, nursing homes, FDA and other Gov't Agencies are now running on NOTHING...to keep us safe. Backlogged Government Services...but, Obama didn't wan't to be blamed for Congress (those who don't have Private Jets paid by Lobbyist's Money) being delayed in Getting Back Home for their Vacation Break!

[Honeycombe8]

24. I don't get what this Penny woman did wrong or illegal.

There's talk in your OP about Rubin and others...but what did she do? Guess I'm missing it.

[KoKo]

27. There are links to all the news articles in posts about this. Go to the source

and read it for yourself...if you think that folks are just posting stuff that doesn't make sense to you.

Remember Copyright rules only allow us to post "Snips" of articles...so we can't post the whole article here in our posts on DU. It's up to you to click the link and read the article and decide if the information seems to be well-sourced and that there are other reported links that support the info.

I think that Greg Palast's reports are well respected here on DU by many long time members and he writes in a way one doesn't have to be an "expert" about Rubin, Wall Street and why Rubin has been involved in much that's shady..even the Wall Street Meltdown and getting rid of bank regulation put in under FDR that he got repealed during Clinton that led to some of what the Wall Street, Housing and Financial Collapse that is causing all the problems we are dealing with and Obama is dealing with. He connects Pritzger and Hyatt Hotel Empire, her Failed Bank that had to be bailed out and the "Ladies Luncheon" where she picked Obama for President and how she started ball rolling to fund him. Obama OWES Pritzger...BIG TIME. That's what's upsetting. That he rewarded her...and we question that she deserves it given her wealth, power and other connections.

Read the Greg Palast articles that are well sourced because it makes it easier to understand...I think anyway...

Also...if you are serious in your questioning...here's a link for more info about what this appointment could mean, here:

http://www.democraticunderground.com/?com=view_post&forum=1002&pid=2788249

[Honeycombe8]

30. If it was important, it would've been in your post.

I'm not obliged to go to other sites and read what you are trying to say.

[KoKo]

32. There's bunch of stuff but this one sort of sums it up... PM me and I'll give you more.

http://www.democraticunderground.com/10022794449

[tritsofme]

26. What a bunch of garbage, I thought this was Kos diary until I saw the link at the bottom.

How utterly ridiculous to suggest that a Democratic candidate for president consorting with two former Treasury Secretaries and the president of the New York Federal Reserve Bank is somehow nefarious.

[KoKo]

28. Had to blink...but, think you left off the "sarcasm" tag on that one....

?????

[mick063]

34. Yes we can't

Change we cannot believe in.


We have been duped. Our President is a slave.

[Marr]

35. Bankers certainly are well-represented in this Administration.

This is what the DLC has been working towards for years-- toss the traditional labor constituencies and replace them with oh-so-much-more-profitable big industries.

The biggest difference between the two parties anymore is the order in which their prioritize their big business masters.

[KoKo]

37. "Prioritization" ...it's a good "Business Lingo/Corporate Speak phrase.

Yep...we got SCREWED.... or, so it appears until further evidence comes to light.