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Post by bolverk on Aug 28, 2008 13:10:55 GMT -5
Really? Was she indited for any wrongdoing? She certainly paid the fines for the bank practices, right out of the family money. Do your research. |
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Post by bolverk on Aug 28, 2008 13:17:08 GMT -5
Basically, the Pritzkers were paid $645 million by the FDIC to take over Lyons Savings and Loan, and then paid $460 million to offset expenses for the governments closure for the failure of Superior Bank, which was created in that original deal. Gee, that is nearly $200 million profit while leaving 1,400 people missing part of their life savings.
I am glad you support such business practices. I don't.
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Post by mrroqout on Aug 28, 2008 13:38:25 GMT -5
Here's a bit more background on ole Penny.
Superior, co-owned by Pritzker family trusts, began focusing on subprime loans in 1993, according to the FDIC Inspector General's report.
At the time, Pritzker was the board's chair. She left the board in 1994 and continued as a director of the bank's holding company.
In 2002, the Pritzkers agreed to pay, through trusts, $460 million in a settlement with the government relieving them of liability.
Payout TO RELIEVE THEM OF LIABILITY................hence no charges.
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Post by saunterelle on Aug 28, 2008 15:09:48 GMT -5
Here's a bit more background on ole Penny. Superior, co-owned by Pritzker family trusts, began focusing on subprime loans in 1993, according to the FDIC Inspector General's report. At the time, Pritzker was the board's chair. She left the board in 1994 and continued as a director of the bank's holding company. In 2002, the Pritzkers agreed to pay, through trusts, $460 million in a settlement with the government relieving them of liability. Payout TO RELIEVE THEM OF LIABILITY................hence no charges. Sounds like legit business to me. So this is a moral qualm you have with this businesswoman, not a legal one, right? |
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Post by mrroqout on Aug 28, 2008 15:27:28 GMT -5
Here's a bit more background on ole Penny. Superior, co-owned by Pritzker family trusts, began focusing on subprime loans in 1993, according to the FDIC Inspector General's report. At the time, Pritzker was the board's chair. She left the board in 1994 and continued as a director of the bank's holding company. In 2002, the Pritzkers agreed to pay, through trusts, $460 million in a settlement with the government relieving them of liability. Payout TO RELIEVE THEM OF LIABILITY................hence no charges. Sounds like legit business to me. So this is a moral qualm you have with this businesswoman, not a legal one, right? So you have no problem then with Michael Jackson Raping children and paying their parents off? Since paying people off to go away is "Legit business" to you.....but an 8% Profit is ABSURD and Shady Business.... Right..you are so transparent..you toe the Che Gueverra shirt wearing crowds party line like a good little commie. Question - Why haven't you relocated to Venezuela yet? |
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Post by bolverk on Aug 28, 2008 15:35:09 GMT -5
Here's a bit more background on ole Penny. Superior, co-owned by Pritzker family trusts, began focusing on subprime loans in 1993, according to the FDIC Inspector General's report. At the time, Pritzker was the board's chair. She left the board in 1994 and continued as a director of the bank's holding company. In 2002, the Pritzkers agreed to pay, through trusts, $460 million in a settlement with the government relieving them of liability. Payout TO RELIEVE THEM OF LIABILITY................hence no charges. Sounds like legit business to me. So this is a moral qualm you have with this businesswoman, not a legal one, right? Well, it did not take long. You obviously have your head in the sand, and care not one iota for the people duped into this scandalous mess. Like I said, leaving 1,400 people missing nearly 25% of their life savings is a big deal to me. You have been smote.And, by the way, paying the fines is a legal issue, not a moral qualm. This was business using the peoples money, not Pritzker money. They got to keep almost $200 million of our dollars, after being paid $645 million by us to fix the failed Lyons Savings and Loans, creating Superior Bank. Superior Bank fails under their watch, one month after she claims they are recapitalizing the bank, and they get a fine of $460 million. So, basically, you are saying duping the American People out of $200 million without ever doing anything is business as usual. Sounds like a democrat to me. And you wonder why I despise them so. |
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Post by bolverk on Aug 28, 2008 17:47:27 GMT -5
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Post by bolverk on Aug 28, 2008 18:11:38 GMT -5
This is even more telling about the role good ole Penny and her family played in the current sub-prime lending scheme meltdown: Though Superior Bank collapsed years before the current sub-prime turmoil that is rocking the world’s financial markets – and pushing those millions of homeowners toward foreclosure – some banking experts say the Pritzkers and Superior hold a special place in the history of the sub-prime fiasco. “The [sub-prime] financial engineering that created the Wall Street meltdown was developed by the Pritzkers and Ernst and Young, working with Merrill Lynch to sell bonds securitized by sub-prime mortgages,” Timothy J. Anderson, a whistleblower on financial and bank fraud, told me in an interview. “The sub-prime mortgages,” Anderson said, “were provided to Merrill Lynch, by a nation-wide Pritzker origination system, using Superior as the cash cow, with many millions in FDIC insured deposits. Superior’s owners were to sub-prime lending, what Michael Milken was to junk bonds.” In other words, if you traced today’s sub-prime crisis back to its origins, you would come upon the role of the Pritzkers and Superior Bank of Chicago. The Source |
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Post by bolverk on Aug 28, 2008 18:13:53 GMT -5
A bit more from the same story:
In a 2002 article in In These Times about Superior Bank’s collapse, business writer David Moberg reported that the bank’s operations were “tainted with the hallmarks of a mini-Enron scandal…And yet the bank’s owners, members of one of America’s wealthiest families, ultimately could end up profiting from the bank’s collapse, while many of Superior’s borrowers and depositors suffer financial losses.”
Notice the part about mini-Enron? Now if this were a power company or oil company, saunterelle would go ballistic. But, it is an Obama supporter, and they only duped the poor and hard working, taking a profit for the leaders of the bank at its failure, while leaving the duped with only 80% of their hard earned money. It must be nice to have friends in the government, friends like Obama.
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Post by The Big Dog on Aug 28, 2008 19:28:41 GMT -5
"Mini-Enron".... bingo, hence my earlier reference to Ken Lay.
The progressives are not getting the point. Must be all those stars in their eyes watching Barack's messianic performance today.
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Post by mrroqout on Aug 28, 2008 19:58:55 GMT -5
A bit more from the same story: In a 2002 article in In These Times about Superior Bank’s collapse, business writer David Moberg reported that the bank’s operations were “tainted with the hallmarks of a mini-Enron scandal…And yet the bank’s owners, members of one of America’s wealthiest families, ultimately could end up profiting from the bank’s collapse, while many of Superior’s borrowers and depositors suffer financial losses.” Notice the part about mini-Enron? Now if this were a power company or oil company, saunterelle would go ballistic. But, it is an Obama supporter, and they only duped the poor and hard working, taking a profit for the leaders of the bank at its failure, while leaving the duped with only 80% of their hard earned money. It must be nice to have friends in the government, friends like Obama. OUCH that's gotta sting...... Can't wait to see the wriggling from the Che Guevarra crowd on this on this one. And YES had it been ANYTHING to do with energy/oil or Republicans Saunterelle & Cohorts would be screaming bloody murder.. |
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Post by Mink on Aug 28, 2008 23:21:12 GMT -5
What stings is the threat that Obama just might win  |
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