"Obama Bundler Who Oversaw Bank Collapse May Get Cabinet Nod"

[WhiskeyGirl]

Penny Pritzker, heiress to the Hyatt Hotel fortune, has been an important backer of Barack Obama's political career. A fixture of Chicago Democrat politics, billionaire Pritzker has bundled tens of millions of dollars in contributions to Obama's campaigns. She helped him navigate the monied corridors behind political power in the city, smoothing his rise to national office. According to recent news reports, her loyalty will be rewarded as Obama is expected to tap her to be the next Commerce Secretary.

She reportedly had been under consideration for the same post at the beginning of Obama's first term. She was forced to withdraw her name from consideration, however, largely because of questions about her role in the failure of a large bank in suburban Chicago. That her name would again be floated for consideration is evidence that Obama feels emboldened by his reelection.

In the 1980s, Pritzker's uncle, the then patriarch of the family, organized the family's purchase of Superior Bank, a failed Savings and Loan based in Hillsdale, IL. Pritzker was installed as Chairman of the bank. In her tenure, the bank aggressively marketed subprime loans and packaged them into securities sold to investors, the very instruments that blew up the financial markets in 2008.

Superior was an early casualty of the unsustainable business of selling mortgages to borrowers who couldn't afford them. By 2001, regulators had seized the bank and shut it down...

read more here http://www.breitbart.com/Big-Government/2013/02/01/obama-bundler-who-oversaw-bank-collapse-may-get-cabinet-nod

If the problem was identified in 2001, why was nothing done by Congress?  I recall that Barney suggested 'it's safe, you don't want poor people to have houses'...

Reform efforts in 2004/2005 failed.  Why?  Why would Obama appoint someone who seems to have been at the forefront of the bad business that blew up the financial markets in 2008?

How many in Congress said things like 'we didn't know this would happen...'?  Why didn't Cllinton's regulators find the problem?  anyone looking? 

Why didn't anyone go to jail for the 2008 collapse?  Why do they all seem to get jobs in government?

Why would


read more here http://www.breitbart.com/Big-Government/2013/02/01/obama-bundler-who-oversaw-bank-collapse-may-get-cabinet-nod