Obama & Penny: They're In It For the Money.

[georgephillip]

Wall Street's shining Black Knight picked Penny Pritzker for his Commerce secretary in spite of the subprime securities the Hyatt princess left in her wake.

Robert Scheer:

"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."

Robert Scheer: Obama Did It for the Money - Robert Scheer's Columns - Truthdig

Surely, it will all get better when Republicans move back into the White House?

 

[georgephillip]

"'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.'"

Robert Scheer: Obama Did It For the Money

 

[TheOldSchool]

No way you made a connection between a politician and a wealthy person??? I'm in shock!

 

[georgephillip]

No way you made a connection between a politician and a wealthy person??? I'm in shock!

Wall Street was known as "the Last Plantation" prior to the 2008 looting by wealthy persons like Penny.
Obama used his black skin and her money to save the plutocrats from a fate worse than death (taxes)
When I posted this I was wondering how many of his supporters would defend this choice.
Not too many so far.