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President Obama’s Rumored Pick for Commerce Secretary Has a ‘Shady’ Background

Feb. 7, 2013 10:00pm Becket Adams

Is Obama Considering Penny Pritzker for Commerce Sec.? If So, What Do We Know About Her?

Penny Pritzker (L) talks with Education Secretary Arne Duncan (R) in the State Dining Room of the White House in 2012. (AP Photo/Haraz N. Ghanbari)

After going nearly eight months without a Secretary of Commerce, rumor has it the Obama administration is considering nominating billionaire Penny Pritzker, an Obama super-bundler and longtime Chicago ally, for the gig.

What do we know about Pritzker? Well, first off, she is an experienced businesswoman.

“Having been born into the family that created the Hyatt hotel chain, Pritzker’s been a businesswoman her entire life and not just in the hotel industry,” The Atlantic notes.

Bloomberg adds:

The Chicago businesswoman has developed a skyscraper in her hometown, worked as president of a commercial real estate and luxury senior housing company, and served as chairwoman for a credit-reporting company. Priztker’s net worth as of September was estimated at $1.8 billion, according to Forbes magazine’s list of the 400 richest Americans.

But professional experience aside, Pritzker also has a bit of a “shady” history behind her name, according to the Atlantic.

“She and her secretive family have been caught up in some pretty dodgy commercial ventures including but not limited to dodging taxes and running a bank that specialized in subprime mortgages,” the report notes.

Do tell:

Back in 2008 when she was “widely reported to be a leading contender for commerce secretary,” The New York Times laid down some difficult truths about Pritzger. It’s true that 53-year-old woman — then just 49 — has managed a number of businesses in her career. Unfortunately, one of them was Superior Bank which, in The Times‘s words, “focused on bundling subprime mortgages into securities, the practice that later helped set off the current financial crisis.” Oops. That bank went under in 2001, but not after the Pritzker family agreed to pay $460 million in damages to depositors. Her involvement in Superior Bank would be trouble enough in a Senate confirmation hearing, but Pritzker’s family is also well known for their tax avoidance techniques. Borrowing The Times‘s wording again, “The Pritzkers were pioneers in using tax loopholes to shelter their holdings from the Internal Revenue Service, and many of their dealings have never been made public.”

Many believe these dealings prompted the Chicago billionaire to withdraw her name from consideration back in 2008 when it was widely believed President Obama would nominate for Commerce secretary.

But that was then and this is now.

Perhaps the White House is hoping America’s dislike for “shady” business deals has lessened somewhat since the 2008 financial meltdown (or since the anti-business 2012 presidential election).

Or maybe President Obama has suddenly remembered that he owes her. Indeed, considering the fact that Pritzker generated roughly $745 million for the 2008 Obama campaign and brought in another $53 million for the inauguration, according to the Financial Times, we’d say President Obama owes her big time.

Whatever the case may be, should the Obama administration nominate Pritzker for Commerce Secretary, the reason she withdrew her name in 2008 — worries that her family’s business decisions would make for an ugly hearing — could very well resurface in 2012.

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Comments (83)

I.X.Pect
Posted on February 8, 2013 at 12:35am
She should be easy to take down. Take a couple of pages from the Democrat book:
1. Claim that she didn’t pair her “fair” share of taxes.
2. Claim that she made people homeless from the subprime debacle.

Republicans should have a field day. They can basically take all the attacks against Mitt Romney and apply them to her.

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- Obama_In_PeePee_Is_Becks_Art
  Posted on February 8, 2013 at 1:07am
  “President Obama’s Rumored Pick for Commerce Secretary Has a ‘Shady’ Background”
  
  ANYTHING coming from the-teleprompter-reading Barack Hussein Obama (AKA Barry Obama, AKA Barry Soetoro, Kenyan-born illegal-alien) is poison to America. In reality, he has plnty of company. There is a massive conspiracy to overthrow the United States Of America beginning some 100 years ago. Now, so confident of their final death-blow to the U.S.A., they brag about it:
  
  “DEMOCRATS OPENLY BOAST! Socialized Medicine IS KEY To The 100 YEARS Marxist U.S.-Overthrow Strategy!”
  http://www.youtube.com/watch?v=Loi_Vqu7Z28
  ” ‘This is a wonderful, exciting day for us [marxist Democrats] and the culmination of nearly 100 years of work.’ With those chilling words, by the appropriately named New York Democrat ‘Rules Committee Chairman’ Louise Slaughter, the Democrat majority of the U.S. House Of Representatives, in lock-step, pushed through an un-Constitutional, socialist takeover of America under the umbrella phrase of ‘health care’.”
  
  Report this comment
- Gorp
  Posted on February 8, 2013 at 4:20am
  Doesn’t the title of this story say it all about most every appointee Obummer has put in?
  
  “President Obama’s Rumored Pick for Commerce Secretary Has a ‘Shady’ Background”
  
  Need I say more?
  
  Report this comment
- tonypro
  Posted on February 8, 2013 at 5:21am
  “” an Obama super-bundler and longtime Chicago ally, for the gig. “”
  
  So this is different from the rest of the criminals how exactly?????
  
  Report this comment
- Phattdad144
  Posted on February 8, 2013 at 7:03am
  The problem with that logic is that negative for a republican is a positive attribute for a democrat. The dems are the party of double standards. Meaning they have no standards at all. Every thing is relative to them.
  
  Report this comment
- mikem1969
  Posted on February 8, 2013 at 8:39am
  So true IX. To add a little note though, ALL OF LITTLE HITLERS PICKS ARE SHADY.
  
  It is time for the conservatives to go on the attack and use the liberal progressive play book to do it. Demonize all of the liberals and progressives and do it loud and proud.
  
  Report this comment
- The_Jerk
  Posted on February 8, 2013 at 9:01am
  Penny Pritzker is part of the Chicago Jewish cabal who brought us the true believer in the international kibbutz, Obama. Read it for yourself. No Jewish Pritzker, no Obama. And, this is taken from the Jewish New York Times. So, don’t crap on me.
  
  http://www.nytimes.com/2012/07/15/us/politics/penny-pritzker-had-big-role-in-obama-08-but-is-backstage-in-12.html?pagewanted=all&_r=0
  
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- JRook
  Posted on February 8, 2013 at 9:42am
  “dodging taxes and running a bank that specialized in subprime mortgages” So her family comes from the same cloth as Romney and the wonderful citizens on Wall Street who trashed the economy and committed fraud in calculating the LIBOR. Of course no chance they were taking advantage and undertaking arbitrage trades after they falsified the Libor.
  
  Report this comment
- Fubared
  Posted on February 8, 2013 at 10:14am
  Jihad Jerk only the Jews can crap on you. Jews Jews Jews. Any other topic you can speak to at all?
  
  Report this comment
- naughtycal
  Posted on February 8, 2013 at 10:17am
  You won’t hear about this woman being born super wealthy,and making 10′s of million on sub-primes laons from MSNBC .ABC,CNN,NBC,CBS,NPR,OR PBS
  
  Report this comment
Holy_Crap
Posted on February 8, 2013 at 12:25am
And to think I once had a cat named “Shady-Lady”

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jeeree
Posted on February 8, 2013 at 12:20am
The commies put Capone away and replaced him with the Daley’s a front org for the commies. Just wondering. By the way anyone who doesn’t think the Commies would love to get revenge for the breakup of he old Soviet Union is blind. Georgie Sorios pudding and pie made the U. S. cry for he is the man who will make us die.

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pookieamos
Posted on February 8, 2013 at 12:20am
I’m curious , does that creep of a president ever select someone based on merit ? Everyone he picks is either a major donor or a homosexual , give me a BREAK ! Dear Lord, we need a miracle oe divine intervention to get this monster out of the People’s White House ! We can’t survive four more years , geesh , the last four have been bad enough , will it ever end ?

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RestoreCapitalism
Posted on February 8, 2013 at 12:12am
With this regime, experience = a shady past.

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AnAmerican111
Posted on February 7, 2013 at 11:56pm
Criminals love criminals!
OBAMA and Penny are both one of the same……

Seriously! So many stupid people still believe in this pathetic excuse for an American

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cashlover
Posted on February 7, 2013 at 11:45pm
Penny Pritzker is being nominated simply because she is a member of the shadow government the counsel on foreign relations, CFR as is Newt Gingrich, Colin Powell, Condi Rice, John Roberts, John F. Kerry ect. ect.ect. The country is ran by the CFR.

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- mharry860
  Posted on February 7, 2013 at 11:56pm
  Please provide links that prove your case. She’s obviously a criminal, but that is different from what you have inferred.
  
  Report this comment
Cosmos102
Posted on February 7, 2013 at 11:31pm
Shady background is a requirement with Obama.

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- SUNTZU
  Posted on February 7, 2013 at 11:50pm
  Plans to open new chain of hotels just for government
  workers called
  SCANDELS ,what you do here stays here.
  Included in the price
  Preforming on stage nightly
  The Franken Weiner show.
  
  Report this comment
fancynancy
Posted on February 7, 2013 at 11:16pm
No surprise here, seems all his people are shady.

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- CatB
  Posted on February 8, 2013 at 12:26am
  Yes … birds of a feather.
  
  Report this comment
DZ-015
Posted on February 7, 2013 at 11:11pm
This bundler babe helped wreck the economy and elect Obama. That makes her a terrible twofer, and another subprime cabinet nominee.

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SunTzuYou
Posted on February 7, 2013 at 10:54pm
she would be a qualified addition to he Obama team, she is one of the people

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environmentalandawake
Posted on February 7, 2013 at 10:51pm
Keep an eye on the RINOs on this one…..If they give her essentially a free pass, then something is very wrong in DC….Not that it isn’t anyway, but this is what poker players call a Tell.

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The-Monk
Posted on February 7, 2013 at 10:45pm
Don’t they all?

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vic138
Posted on February 7, 2013 at 10:39pm
A small price to pay for her getting he and Moochelle a 35 million dollar home in hawaii: http://hillbuzz.org/who-is-funding-the-purchase-of-the-35-million-beachfront-hawaiian-estate-for-barack-and-michelle-obama-to-move-into-come-january-2013-2013

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- lovenfl3
  Posted on February 7, 2013 at 10:47pm
  This should not be a shock to anyone at all. Every single person around this guy has a shady background. How could any human being even know this many shady characters? It’s like he almost had to have put an ad in the paper. http://www.youtube.com/watch?v=z85X6im-4Qs
  
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- mercenary4freedom
  Posted on February 7, 2013 at 11:06pm
  I knew even before reading the details, this is another Chicago white collar mobster goon.
  
  Report this comment
rukidnme
Posted on February 7, 2013 at 10:39pm
what an f ing suprise

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EQUALIZER
Posted on February 7, 2013 at 10:38pm
Penny Pritzker, in 2001 started the sub-prime loan collapse by bringing down he rfamily owned Superior Bank of Illinois which was seized by the FDIC.Thank you very much.

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TotallyNotATroll
Posted on February 7, 2013 at 10:28pm
Seems to me like she already bought and paid for Obama, which is why we’re all paying for Obama now.

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neverending
Posted on February 7, 2013 at 10:23pm
Oh no say it isn’t so – commie choosing another commie. Look no further if she is a friend of commie arne dunce!

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GBTVFan_Non_American_Overseas
Posted on February 7, 2013 at 10:22pm
This is a non-story. This is the norm for Barry’s administration: Crooks and thugs. A story would be when he nominates a decent person….

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EM2T93
Posted on February 7, 2013 at 10:21pm
Isn’t she also a Media Matters financial backer? I thought that was what the “shady” was all about, but apparently, there’s even more despicable details.

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doglady
Posted on February 7, 2013 at 10:21pm
If she is the worst of the worst, then she is Obama’s pick.

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spirited
Posted on February 7, 2013 at 10:20pm
“Pay your fair share” .

“You didn’t build that”

>)8^0 …to coin a phrase

…

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NigelTufnel
Posted on February 7, 2013 at 10:19pm
We are going to be running into these sub-prime connections for a while. It was vast and deep. Heck, I know people that performed predatory lending. It was legal. Ohio Gov. John Kasuich worked for Lehman Bros. before their collapse. Anyone who worked at or for a bank could be loosely tied to the mortgage collapse. The bigger story is that she is part of the Chicago Machine and Obama will need plenty of patsies when the bond bubble breaks and the economy tanks once again.

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Apexduck
Posted on February 7, 2013 at 10:15pm
But but but, I though all the Liberals paid their taxes because it is the Patriotic thing to do?

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- freenj
  Posted on February 7, 2013 at 10:46pm
  Good one, Apex.
  As their saying goes, “there is a tax for thee, but not for me”.
  
  Report this comment
Gargent_Furball
Posted on February 7, 2013 at 10:11pm
Just what we need another Madeoff… Made off with everyone’s savings. Can you say Crook.

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