'unresolved set of issues in the Democratic Party between people of wealth and people who work'

[marmar]

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 don’t sell the lady short; she wasn’t 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 wasn’t for his looks. Never one to rest on the laurels of her immense inherited wealth, Pritzker has always wanted more. That’s what drove her to run Superior Bank into the subprime housing swamp that drowned the institution’s 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 bank’s 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]

1. It's always the same people behind it no matter who is up front.

[HereSince1628]

7. How can it be otherwise, when almost all the wealth

is in the hands of such a small percentage of the population?

[graham4anything]

2. if it's Tuesday, must be another day of anti-President Obama, anti-Democratic party

[marmar]

3. ^

Completely predictable post.

[hobbit709]

5. Reality is different on Planet G4A.

[marmar]

6. ROFL

[hobbit709]

4. I didn't like ideological fanatics when I walked out of SDS in 1967 and I still don't like them.

[kentuck]

9. "ideological fanatics"?

How dare you call a good Democrat a fanatic!

[graham4anything]

11. read the SDS's leaders website.

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]

12. Have you looked in the mirror lately?

You certainly sound like an ideological fanatic with your police and nanny state views.

[progressoid]

13. If it's Tuesday, it must be another day of putting on the blinders and shaking the pom poms.

[LonePirate]

8. I'm surprised the RW nut jobs have not started their assault on her and Obama.

I am not comfortable with her nomination so I can't imagine the tea baggers are going to let this one slide.

[JHB]

10. Psst! Pritzker is the link between Fast & Furious and Benghazi!

(there, that ought to get them going. )

[Tierra_y_Libertad]

14. He's kissing the ring of the real bosses.

"History has tried to teach us that we can't have good government under politicians.   Now, to go and stick one at the very head of government couldn't be wise." Mark Twain

[reformist2]

15. Public funding of elections. Public funding of elections. Public funding of elections.