Greg Palast Nailed Penny Pritzger! A bit of History...Refresher!
http://truth-out.org/opinion/item/14493-billionaire-banker-bandit-likely-commerce-secretaryBillionaire Banker Bandit Likely to Become Next Commerce Secretary
Tuesday, 12 February 2013 13:16 By Greg Palast, Truthout | Op-Ed
(Cartoon: Ted Rall)(Cartoon: Ted Rall)A parade of media reports this week name Penny Pritzker as Obama's prime choice for Secretary of Commerce. No longer will criminal bankers have to lobby the administration - because now they'll have one of their own in the Cabinet.
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.
Penny's from Heaven?
Pritzger'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 so she could get away with this crap.
This article is based on the New York Times bestseller: Billionaires & Ballot Bandits, by Greg Palast with comics by Ted Rall. Available for a donation to Truthout.org.
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, when Robert met Barry, 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.
Rubin rocked, but Penny was pissed off.
http://truth-out.org/opinion/item/14493-billionaire-banker-bandit-likely-commerce-secretary
= new reply since forum marked as read
Do I TRUST Penny Pritzger to have American People's interest in her heart? About as much as I do most of his other appointments, like Summers, Geithner and a few others whose names escape me at this time. Do any of them have the American People's interest at heart? Bankers and Wall Street yes, the rest of us not so much. It is what it is.
we concentrate on that.
when the "pushed back" ...eventually, Pushes Back.
Won't always be that way...not with the "Incredibly Stupid" that's going on. Eventually they will fall on their swords.....living beyond their "credibility" and ......there will be new.
But..yes...these are times that where one wonders how can there ever be a difference in anything.
So...Yeah...I know, what you say... I'm not yet ready to give up. Exposing the "Rot from WITHIN" is important. It might not be up to us to resolve what happens after that...but, if we don't contribute to the CHANGE...then we definitely be contributing. That's what is what I care the most about...from all of us these days... Contributing to the Knowledge...
for those who try and those who reply.
