Shock: Obama's Nominee for Secretary of Commerce is a Chicago Billionairess Mega-Donor Crony Who By the Way Understated Her Income by $80 Million

From the Chicago Tribune:

Pritzker, 54, a member of Chicago's wealthiest family, is a business executive whose family founded Hyatt Hotels. She is a Democratic mega-donor and was nominated by longtime friend President Barack Obama, whom she helped get elected.

She's being questioned today by the Senate. They'll be asking about a failed bank of hers, Superior Bank.

Among the issues she likely will be asked about is the 2001 failure of Superior Bank, based in Hinsdale, where Pritzker was chair from 1991 to 1994. Pritzker also handled the matter after her uncle Jay died in 1999. The bank was co-owned by the Pritzker family and aggressively pursued subprime mortgages and car loans.

After having filed a lowball figure for her income, she's recently amended her financial disclosure statements to note "Oh yeah, I received an additional $80 million too, forgot to mention it, such a trifling figure, so sorry about that, shan't happen again."

Her net worth is estimated at $1.85 billion.

So, 99%.

posted by Ace at 01:15 PM

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