By: bob f.

bob f. — Sun, 19 Oct 2008 02:07:00 +0000

According to a February 7, 2002 statement by FDIC Inspector General Gaston Gianni Jr., “the failure of Superior Bank was directly attributed to the Bank’s Board of Directors and executives ignoring sound risk management principles.” Ironically, the national finance chair of the Obama campaign, Penny Pritzker, sat on the board of directors of Superior Bank/Coast-to-Coast Financial/Alliance Funding (which engaged in predatory subprime mortgage lending and securitization of toxic mortgages) in the 1990s and less than 8 years before the collapse of the U.S. banking system. For more info about the role of the Obama campaign’s national finance chair in helping to create the current U.S. economic crisis, see the following blog link:

http://www.bfeldman68.blogspot.com/

Comments on: Meet Obama Finance Chair Penny Pritzker

By: bob f.