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Bush\McCain Adminstration Spends 1.4 Trillion in last 2 days
Posted by: Greenspan Fan ()
Date: September 18, 2008 10:24AM

What the hell is going on with the US economy. Don't the Republicans get it? The biggest drop in the stock market history since the great depression.

We are spending billions over seas in Iraq and Afgahnistan
Housing and Banking system in ruins

Now we are spending 1.4 Trillion to bail out companies and the government is going to control them?

Where is this US money going to come from? Somebody have a money tree?

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Re: Bush\McCain Adminstration Spends 1.4 Trillion in last 2 days
Posted by: Bernanke ()
Date: September 18, 2008 10:36AM

Alright Andrea, get back to work. NBC will can you for goofing off
on the job if they catch you posting on the FFx Underground.

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Re: Bush\McCain Adminstration Spends 1.4 Trillion in last 2 days
Posted by: Vince(1) ()
Date: September 18, 2008 11:55AM

it will come in the form of inflation...which in a world economy most of McSame's working clas heroes won't be able to keep up with....which in turn will result in a lower standard of living...which in turn republikans will balme on the democrats!

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Re: Bush\McCain Adminstration Spends 1.4 Trillion in last 2 days
Posted by: Registered Voter ()
Date: September 18, 2008 01:03PM

Too bad Congress was too busy with filibustering the Senate for the last 8 years to do anything other than try to get one up on each other. If they had actually passed some meaningful legislation (that was proposed by Bush administration and John McCain) much of this could have been averted.

Congress, and a bunch of folks on Wall Street whose only claim to fame is they got business, accounting and economics degrees. Nice of them to gut these companies, and leave the American taxpayer to foot the bill on keeping the world economy from collapsing. Because that is what we are talking about.

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Re: Bush\McCain Adminstration Spends 1.4 Trillion in last 2 days
Posted by: Lopter ()
Date: September 18, 2008 01:25PM

Sorry register voter but that excuse won't work. Bush chose and controls high level government officials. He also put his "government appointees" in positions.

Who championed Bernanke? George W Bush!

Were democrats involved, yes, but who was running the show? Bush and Republicans!

This shit economy happens every time Republicans have 8 years in power. They rip off the government!

No new taxes, they just drive the country farther in debt by borrowing\selling from China!

Christ! Budweiser isn't even an American beer any more!

McCain's ideas - Just sit back and watch the rest of the US got sold off.

26 years McCain has been in bed with Bush and now he's going "fix Washington" What a bunch of crap!

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Re: Bush\McCain Adminstration Spends 1.4 Trillion in last 2 days
Posted by: Registered Voter ()
Date: September 18, 2008 02:07PM

So, we can borrow our way into debt with China and lose, or we can dismantle our military and let China and Russia run the "free world" while we spend billions on entitlement programs ... hmm...

Get it?

The debt with China was already there when Bush got into office. So far all I have heard Obama talk about is increasing spending, and taxing the rich a bit more. You think they are going to make up $9T in debt anytime soon? Saying we are going to tax the rich more is definitely not going to fix the debt equation.

Gutting our military for short term "balancing the budget" so to speak (like Bill Clinton did) will not help us in the long run. Clinton's policies during the 1990s setup the crash we experienced in early 2000 - Bush had nothing to do with that. They then passed tax reductions (proposed by Bush) to try and make sure the economy didn't grind to a complete halt. That part worked sort of - except then we had 9/11. Where the problem comes in is that Congress was perfectly willing to INCREASE spending above and beyond what the Government was taking in - Congress - Dems + Republicans. Sure, Bush signed the laws they passed, but it was Congress that wrote those laws - Bush cannot write these bills remember. So far the Dems have not done anything to even attempt to turn that around, other than pass some more spending bills with even larger amounts of spending.

The 80%+ disapproval rating for Congress is on the mark, and it has only gotten worse since the Dems took control. Get your head out of this election (the short term) and see the facts for once before you vote. I am not saying the republicans did themselves any favors the last 7 or 8 years helping pass these spending bills, but when the democrats become the party of fiscal responsibility I think all of us will be dead and gone. Assuming the Congress will be in control of the democrats after the election, meaning that Pelosi will be calling the shots on spending bills, you might want to look really hard at having someone in the President's office that will not give her carte blanche and just make it worse.

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Re: Bush\McCain Adminstration Spends 1.4 Trillion in last 2 days
Posted by: Lopter ()
Date: September 18, 2008 02:25PM

My problem is that Republicans think with THEIR wallet only!

I find them to be rude SELFISH ego people. I also find republicans to be the biggest hypocrites of all. They'll go to church on Sunday and Monday they doing illegal corporate business deals to line their pockets.

Do I agree with social programs, yes if they help someone in need to get going. Certainly not if they are abused and I'm fronting the bill for some taxpayer fraud; 7 kid mother to drive a BMW.

But, let look at the flip side, the Rich are taking advantage of the country in the same manner by not paying taxes and hiring tax attorneys to profit from not paying. They are to blame also!

Which is worse? A freeloading welfare mother or some rich guy do no bid inflated gov contracts and avoiding paying taxes?

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Re: Bush\McCain Adminstration Spends 1.4 Trillion in last 2 days
Posted by: Registered Voter ()
Date: September 18, 2008 02:57PM

We had a friend, she had 2 kids, then her daughter got pregnant at 15 and carried her child to term. SO now she had her granddaughter also. She worked full time, but her daughter was not able to take care for the baby so she took care of it too. Then her daughter moved in with her aunt, and they eventually had a custody dispute over the grandchild. Why? Because the Aunt was on welfare, and wanted to get the baby in the house to increase her welfare check. When this friend of ours went to court to fight the custody battle (for her daughter and granddaughter - which she eventually won) the judge told her that she should quit her job and go on welfare like other women in her situation did.......

This is where the problem comes in. Folks pushing people to go on welfare because it would be easier than working full-time. And this was a judge.

This is what happens when you create entitlement programs like this.

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Re: Bush\McCain Adminstration Spends 1.4 Trillion in last 2 days
Posted by: Vince(1) ()
Date: September 18, 2008 04:05PM

You are incredible...some anecdotal story...which I am sure you failed to provide all the facts...and you want to use it as some blanket statement on all entitlement programs. I love your attributing the Aunt's motivation solely on her desire to increase her welfare check....god damn...you really must be a sleuth...a mind reader...a simpleton...to think you know what that women was thinking and feeling toward that baby! Your story is nothing more then a flematory attempt to get people all riled up over welfare! Damn those welfare mothers....damn..they drive cadillacs...damn I had to wait in line while they cashed in their stamps! Sick..absolutley sick!



Edited 2 time(s). Last edit at 09/18/2008 04:06PM by Vince(1).

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Re: Bush\McCain Adminstration Spends 1.4 Trillion in last 2 days
Posted by: Elmer ()
Date: September 18, 2008 04:20PM

Lopter Wrote:
-------------------------------------------------------
> Sorry register voter but that excuse won't work.
> Bush chose and controls high level government
> officials. He also put his "government appointees"
> in positions.
>
> Who championed Bernanke? George W Bush!
>
> Were democrats involved, yes, but who was running
> the show? Bush and Republicans!


The Senate had to approve all Cabinet appointments. If they had
reservations, why didnt they voice their objections?

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Re: Bush\McCain Adminstration Spends 1.4 Trillion in last 2 days
Posted by: Democratic Response ()
Date: September 18, 2008 04:54PM

Sept. 18 (Bloomberg) -- The Democratic-controlled Congress, acknowledging that it isn't equipped to lead the way to a solution for the financial crisis and can't agree on a path to follow, is likely to just get out of the way.

Lawmakers say they are unlikely to take action before, or to delay, their planned adjournments -- Sept. 26 for the House of Representatives, a week later for the Senate. While they haven't ruled out returning after the Nov. 4 elections, they would rather wait until next year unless Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben S. Bernanke, who are leading efforts to contain the crisis, call for help.

One reason, Senate Majority Leader Harry Reid said yesterday, is that ``no one knows what to do''

-------

Yes, these are the so called leaders I want planning the nation's economic future. At least they are honest enough to recognize they are impotent.

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Re: Bush\McCain Adminstration Spends 1.4 Trillion in last 2 days
Posted by: Registered Voter ()
Date: September 18, 2008 05:09PM

Vince(1) Wrote:
-------------------------------------------------------
> You are incredible...some anecdotal story...which
> I am sure you failed to provide all the
> facts...and you want to use it as some blanket
> statement on all entitlement programs. I love
> your attributing the Aunt's motivation solely on
> her desire to increase her welfare check....god
> damn...you really must be a sleuth...a mind
> reader...a simpleton...to think you know what that
> women was thinking and feeling toward that baby!
> Your story is nothing more then a flematory
> attempt to get people all riled up over welfare!
> Damn those welfare mothers....damn..they drive
> cadillacs...damn I had to wait in line while they
> cashed in their stamps! Sick..absolutley sick!

Actually we had quite a few discussions with her about it. The Aunt had a number of kids herself, from 3 other guys. She was not married, but got welfare payments for all the kids. She had a Cadillac, lot of other goodies, and the kids were usually someone else's problem. The reason we were involved was because she asked us to help while she was going through all this - so yeah, we knew quite a lot about it. The reason her daughter wanted to move there was that the guy that got her pregnant was an 17 yr old that sold drugs in the neighborhood - our friend had tried to keep her from seeing him, but since she worked all day it was hard for her to do much about it (her husband was dead). The daughter wanted to move to the Aunt's because the aunt didn't care who she saw.

I don't need to make this up. It was kind of sad. When we heard the judges decision we about lost it. It was a pretty stupid thing for him to say, and definitely was the wrong way to deal with the issue. Our friend got pretty mad with the judge for even suggesting it - she told him that (in some pretty colorful language I won't repeat here) that she worked a full time job because she wanted to be a productive member of society and she was damned if she was going to take handouts from the State and stay home. Even better - she had severe arthritis and had her neck, ankles and wrists fused.

But you know, go ahead and make fun of it. Just proves how shallow you are that you can't even see beyond the little room you sit in while typing your "enlightened" responses.

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Re: Bush\McCain Adminstration Spends 1.4 Trillion in last 2 days
Posted by: Registered Voter ()
Date: September 18, 2008 05:11PM

Elmer Wrote:
-------------------------------------------------------
> Lopter Wrote:
> --------------------------------------------------
> -----
> > Sorry register voter but that excuse won't work.
>
> > Bush chose and controls high level government
> > officials. He also put his "government
> appointees"
> > in positions.
> >
> > Who championed Bernanke? George W Bush!
> >
> > Were democrats involved, yes, but who was
> running
> > the show? Bush and Republicans!
>
>
> The Senate had to approve all Cabinet
> appointments. If they had
> reservations, why didnt they voice their
> objections?

Exactly. This is not a Bush problem. This is a problem of our government. At least McCain did try to push legislation to fix the problem. That and the fact that he never asks for earmarks should be pretty indicative of his intentions.

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Re: Bush\McCain Adminstration Spends 1.4 Trillion in last 2 days
Posted by: Vince(1) ()
Date: September 18, 2008 05:58PM

Bush may have never asked for an earmark...but neither did he ever veto one either! He had the dubious honor of never vetoing a single earmark! The current crisis is a republikan party problem...it is 100% at their feet. They are the ones since Ronald Reagan doing away with all those "wasteful" governemnt oversite regualtions and regulators. We now have meat producers inspecting their own plants...bamkers going wild...improts from China going uninspected! All 100% consistent with the republikan philosophy that businessses can be trusted to act on behalf of the publics interests. You worthless piece of republikan dredge..take a little responsibility for your failed administrations!



Edited 1 time(s). Last edit at 09/18/2008 05:58PM by Vince(1).

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Re: Bush\McCain Adminstration Spends 1.4 Trillion in last 2 days
Posted by: Registered Voter ()
Date: September 18, 2008 06:15PM

Um... McCain never asked for earmarks.

Seems you are getting a little out of hand there Vince. Might want to type a little slower, I think your fingers are getting ahead of your ability to wrap coherent thoughts around them. Gotta be tough when you only use two fingers to type....

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Re: Bush\McCain Adminstration Spends 1.4 Trillion in last 2 days
Posted by: Vince(1) ()
Date: September 19, 2008 10:51AM

Registered Voter Wrote:
-------------------------------------------------------
> Vince(1) Wrote:
> --------------------------------------------------
> -----
> > You are incredible...some anecdotal
> story...which
> > I am sure you failed to provide all the
> > facts...and you want to use it as some blanket
> > statement on all entitlement programs. I love
> > your attributing the Aunt's motivation solely
> on
> > her desire to increase her welfare check....god
> > damn...you really must be a sleuth...a mind
> > reader...a simpleton...to think you know what
> that
> > women was thinking and feeling toward that baby!
>
> > Your story is nothing more then a flematory
> > attempt to get people all riled up over welfare!
>
> > Damn those welfare mothers....damn..they drive
> > cadillacs...damn I had to wait in line while
> they
> > cashed in their stamps! Sick..absolutley sick!
>
> Actually we had quite a few discussions with her
> about it. The Aunt had a number of kids herself,
> from 3 other guys. She was not married, but got
> welfare payments for all the kids. She had a
> Cadillac, lot of other goodies, and the kids were
> usually someone else's problem. The reason we were
> involved was because she asked us to help while
> she was going through all this - so yeah, we knew
> quite a lot about it. The reason her daughter
> wanted to move there was that the guy that got her
> pregnant was an 17 yr old that sold drugs in the
> neighborhood - our friend had tried to keep her
> from seeing him, but since she worked all day it
> was hard for her to do much about it (her husband
> was dead). The daughter wanted to move to the
> Aunt's because the aunt didn't care who she saw.
>
> I don't need to make this up. It was kind of sad.
> When we heard the judges decision we about lost
> it. It was a pretty stupid thing for him to say,
> and definitely was the wrong way to deal with the
> issue. Our friend got pretty mad with the judge
> for even suggesting it - she told him that (in
> some pretty colorful language I won't repeat here)
> that she worked a full time job because she wanted
> to be a productive member of society and she was
> damned if she was going to take handouts from the
> State and stay home. Even better - she had severe
> arthritis and had her neck, ankles and wrists
> fused.
>
> But you know, go ahead and make fun of it. Just
> proves how shallow you are that you can't even see
> beyond the little room you sit in while typing
> your "enlightened" responses.


Once agian you see yourself above the courts and due process. I guess you should be in charge of it all...maybe you'd be happier in China where a know it all like yourself might be able to progress up the chain to be in charge of it all. It doesnt work that way in this counrtry. The courts are there for a good reason...to circumvent know it alls like you.

The fact is that a lot of very needy and desperate people depend on "entitlement programs"...you anecdotal story is just that anecdotal..meaningless..worthless!

You seem to have no trouble handing out welfare to the rich fat cats on Wall Street...but god forbid someone in financial need takes a penny!



Edited 2 time(s). Last edit at 09/19/2008 11:40AM by Vince(1).

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Re: Bush\McCain Adminstration Spends 1.4 Trillion in last 2 days
Posted by: Registered Voter ()
Date: September 19, 2008 11:50AM

Um, what does any of what I said have to do with due process?

You are off the range. Enough on this topic - you can rant to your hearts content since it seems you have nothing meaningful to add.

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Re: Bush\McCain Adminstration Spends 1.4 Trillion in last 2 days
Posted by: Lopter ()
Date: September 19, 2008 01:15PM

Good Ole Republican government, let the rich plunder the US economy until their pockets are full.

Once the economy is in ruins, cry wolf and start a ton of government programs with taxpayer dollars to bail out failed businesses.

Where were the regulators during all of this Bush? Are we punishing the people who did all these illegal and risky transactions?

Bush and McCain just reward them by bailing them out with our tax dollars!

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not rly.
Posted by: Gravis ()
Date: September 19, 2008 01:57PM

Lopter Wrote:
-------------------------------------------------------
> Bush and McCain just reward them by bailing them
> out with our tax dollars!



Quote
McCain criticises bank assistance
US Republican presidential candidate John McCain has said he is against the state bailing out struggling banks and financial companies.


"the wisdom of the wise will perish, the intelligence of the intelligent will vanish."095042938540

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Re: not rly.
Posted by: Vince(1) ()
Date: September 19, 2008 02:01PM

Gravis Wrote:
-------------------------------------------------------
> Lopter Wrote:
> --------------------------------------------------
> -----
> > Bush and McCain just reward them by bailing
> them
> > out with our tax dollars!
>
>
> US Republican presidential candidate John McCain
> has said he is against the state bailing out
> struggling banks and financial companies.


And then said the next day...the feds had no choice! Once again the senile old man cant figure out from day-to-day what he stands for. His entire strategy appears to be to say whatever Obama says...except dont mean it!

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Re: not rly.
Posted by: Lopter ()
Date: September 19, 2008 02:46PM

Vince(1) Wrote:
-------------------------------------------------------
> And then said the next day...the feds had no
> choice! Once again the senile old man cant figure
> out from day-to-day what he stands for. His
> entire strategy appears to be to say whatever
> Obama says...except dont mean it!

Gravis you need to wait a day or two before qouting McCain. McCain needs a day or two to see what the public reaction was and if he needs flip flop on the issue.
Attachments:
lk_bsexpress500.jpg

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Re: Bush\McCain Adminstration Spends 1.4 Trillion in last 2 days
Date: September 19, 2008 02:57PM

I remember back in 2005 seeing fliers in Spanish in Home Depot. My wife reads Spanish and translated it for me. It was an appeal from a mortgage broker for illegal immigrants to get a mortgage to buy a house. No job. No proof of income required. Instead of a SS#, applicants could use an ITN (Income Tax Number), which doesn't require a SS# to get. At that time, I remember telling my wife that our mortgage industry was in for a world of hurt if mortgages were going to be given out this way with little or no background check.

Today, we have a $1.4 trillion bailout of our banking industry because of bad mortgages. I see all of these people with the Ph.Ds and MBAs in economics and business claiming that "no one could have seen this coming."

I'm no economist. I have worked in business for years and have taken some basic classes in economics. How is it I could see this and these people couldn't? The truth is, they did see it...and did nothing. They figured it was musical chairs and they would be smart enough to get out of the market before the music stopped. They were wrong. It was all pure greed.

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Re: Bush\McCain Adminstration Spends 1.4 Trillion in last 2 days
Posted by: Lopter ()
Date: September 19, 2008 03:05PM

Don't tell Bush and McCain didn't see this crisis coming:

Remember Silverado Savings and Loan?

Maybe Bush should ask Neil Bush for some advice -

Silverado Savings and Loan
Silverado Savings and Loan collapsed in 1988, costing taxpayers $1.3 billion. Neil Bush, son of then Vice President of the United States George H. W. Bush, was Director of Silverado at the time. Neil Bush was accused of giving himself a loan from Silverado, but he denied all wrongdoing. [2]

The US Office of Thrift Supervision investigated Silverado's failure and determined that Neil Bush had engaged in numerous "breaches of his fiduciary duties involving multiple conflicts of interest." Although Bush was not indicted on criminal charges, a civil action was brought against him and the other Silverado directors by the Federal Deposit Insurance Corporation; it was eventually settled out of court, with Bush paying $50,000 as part of the settlement, as reported in the Washington Post [10].

As a director of a failing thrift, Bush voted to approve $100 million in what were ultimately bad loans to two of his business partners. And in voting for the loans, he failed to inform fellow board members at Silverado Savings & Loan that the loan applicants were his business partners.[citation needed]

Neil Bush paid a $50,000 fine and was banned from banking activities for his role in taking down Silverado, which cost taxpayers $1.3 billion. A Resolution Trust Corporation Suit against Bush and other officers of Silverado was settled in 1991 for $26.5 million.

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Re: Bush\McCain Adminstration Spends 1.4 Trillion in last 2 days
Posted by: Registered Voter ()
Date: September 19, 2008 03:59PM

And Obama's FINANCE chair is Penny Priztker, former head of Superior Bank of Chicago

http://amok.asianweek.com/2008/02/28/obamas-campaign-finance-chair-has-links-to-subprime-debacle/

Quote

...
“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.
...

Quote

...At the time of this seizure, it was determined that Penny Pritzker and her family owed $460,000,000 to the Federal Government. Yes, that’s right folks. Nearly a half a billion dollars.

Quote

...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.”

Moberg wrote that “the Superior story has a familiar ring. … Using a variety of shell companies and complex financial gimmicks, Superior’s managers and owners exaggerated the profits and financial soundness of the bank. While the company actually lost money throughout most of the ’90s, publicly it appeared to be growing remarkably fast and making unusually large profits. Under that cover, the floundering enterprise paid its owners huge dividends and provided them favorable loans and other financial deals deemed illegal by federal investigators.

“Superior’s outside auditor, which doubled as a financial consultant, engaged in dubious accounting practices that kept feckless regulators at bay. Many individuals—disproportionately low-income and minority borrowers with spotty credit records—had apparently been exploited through predatory-lending techniques, including exorbitant fees, inadequate disclosure and high interest rates.”

When it collapsed in 2001, Superior Bank represented the largest failure of a U.S.-insured depository institution for a decade.

The Office of Thrift Supervision notice:
http://files.ots.treas.gov//77151.html

Hmm.

Obama's finance chair. Good references.

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Re: Bush\McCain Adminstration Spends 1.4 Trillion in last 2 days
Posted by: Vince(1) ()
Date: September 19, 2008 08:23PM

That's right genious..it's all the 4 year Senator's fault and his advisors! And all to make Bush/McSame look bad so he can win an election! I cant wait until such an influential junior senator is president and can then use this same influence to make himself look good.

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Re: Bush\McCain Adminstration Spends 1.4 Trillion in last 2 days
Posted by: Vince(1) ()
Date: September 19, 2008 08:31PM

Here's another intersting fact about Ms Priztker...

Political involvements
Pritzker contributed some $493,174[7] to numerous campaigns and political action committees since the 2000 election cycle. Among the recipients have been the presidential campaigns and exploratory committees, including those of George W. Bush, Joe Lieberman, Bill Bradley, Rudy Giulani, John McCain (2000), Al Gore, John Kerry and Hillary Clinton.[8]

http://en.wikipedia.org/wiki/Penny_Pritzker

If you arent a paid republikan operative..you ought to be!

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Re: Bush\McCain Adminstration Spends 1.4 Trillion in last 2 days
Date: September 19, 2008 09:18PM

Registered Voter Wrote:
-------------------------------------------------------
> And Obama's FINANCE chair is Penny Priztker,
> former head of Superior Bank of Chicago
>
>
> When it collapsed in 2001, Superior Bank
> represented the largest failure of a U.S.-insured
> depository institution for a decade.
>
>
> The Office of Thrift Supervision notice:
> http://files.ots.treas.gov//77151.html
>
> Hmm.
>
> Obama's finance chair. Good references.

First, Penny Pritzker was no longer in charge of Superior starting in 1994. Second, the Pritzker family settled wit the FDIC in 2001. The sub-prime crisis began in 2004. Pritzker had nothing to do with the overall mortgage meltdown. In fact, in 2001, FDIC shut down Superior's sub-prime practice. When Bush took power, apparently sub-primes became "okay." Get your facts straight.

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Re: Bush\McCain Adminstration Spends 1.4 Trillion in last 2 days
Posted by: Vince(1) ()
Date: September 19, 2008 09:31PM

good luck Washingtonelocian..this guy is psychotically ruthless and doesnt let facts get in his way!

Options: ReplyQuote
Re: Bush\McCain Adminstration Spends 1.4 Trillion in last 2 days
Posted by: Registered Voter ()
Date: September 19, 2008 10:04PM

WashingToneLocian Wrote:

>
> First, Penny Pritzker was no longer in charge of
> Superior starting in 1994. Second, the Pritzker
> family settled wit the FDIC in 2001. The sub-prime
> crisis began in 2004. Pritzker had nothing to do
> with the overall mortgage meltdown. In fact, in
> 2001, FDIC shut down Superior's sub-prime
> practice. When Bush took power, apparently
> sub-primes became "okay." Get your facts straight.

Oh - sorry she "moved on" from being the Chair of the bank and instead become one of the owners on the board... nice distinction. Read on...

Quote

“The Pritzkers like to say they did sub-prime lending to help the disadvantaged get into the home equity business, [but] it would be more accurate to state they ran a very large nation-wide predatory lending operation,” Anderson said, citing criticism of Superior’s lending practices in a letter written to the Office of Thrift Supervision on July 3, 2002, by the National Community Reinvestment Coalition, an association of more than 600 community-based organizations that promote access to basic banking services.

As an owner and board chair of Superior, Penny Pritzker also was named in a RICO class action suit on behalf of the more than 1,400 depositors at Superior, who initially lost over $50 million of their life savings.

http://bfeldman68.blogspot.com/2008/02/obama-campaigns-pritzkersuperior-bank-s.html

Quote

“The Pritzkers controlled half the board seats. Penny Pritzker…was on the board, and Glen Miller, a top financial officer in the Pritzker organization, was chairman of the audit committee…Penny Pritzker…was designated…to watch over the Superior investment.”

Yuo guys like getting your facts from Wiki huh? Might want to check the references - Wiki can be changed by anyone.

OTS Regulator Holds Superior Bank Owners Accountable...
http://findarticles.com/p/articles/mi_m0JDE/is_4_6/ai_n25038209

I see she was already familiar with how to walk away from issues:

Quote

In tense testimony on October 17 before the Senate Banking Committee, Ellen Seidman, outgoing director of the Office of Thrift Supervision, stated outright that the former owners of the $1.8 billion Superior Bank in Hinsdale, Ill., which was seized by federal regulators on July 27, basically just "walked away" even "after having promised to put it back together again." Its co-owners, the multibillionaire Pritzker family and Alvin Dworman, a New York developer, had devised a rescue plan last May, approved by the OTS, under which together they would have pumped a total of $355 million into the floundering bank. In addition, the plan called for the Pritzkers to become the sole owners of Superior. Ultimately, however, the plan was not implemented.

A more full look into the family and how they were involved:
http://www.chicagomag.com/Chicago-Magazine/December-2002/Tremors-in-the-Empire/

Quote

To some, however, the Pritzkers were hardly the innocents they made themselves out to be. The family, after all, controlled half the board seats of the bank's holding company, which benefited from all that dividend income, and the Pritzker Organization's chief financial officer, Glen Miller, chaired the bank's audit committee. Although Penny had stepped down as the bank's chairman in 1994, she remained a director of its holding company.

Finally the family offered to pay $460M without admission of guilt.

If you read through the stories you find a lot of interesting information. In the report from the committee investigation (Senate Banking - Chris Dodd Chair at the time) there were even recommendations in strengthening the OTS and other regulatory practices to make sure these kind of problems couldn't happen again...

Like I said, lots of interesting reading. As I have stated a number of times, this is an (almost) all of the above problem. Obama has aligned himself with a number of people that have been recently involved in the formation of many of these issues, and also it appears the Pritzker family and their holding company has been involved for a while.

The debates will tell all - this is just more side fluff.

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Re: Bush\McCain Adminstration Spends 1.4 Trillion in last 2 days
Posted by: Vince(1) ()
Date: September 19, 2008 10:13PM

does he think anyone actually reads the crap he cuts and pastes? Afterall..he's found the source for the weeks financial crisis...why the Iraq War went wrong for so long..the Drug Wars....and where Jimmy Hoffa is buried! And it all goes back to Obama..his connection with 60 year old terrorists...and the world jewish conspiracy. He is due for the Pulitzer and the Nobel Piece Prize...he will undoubtedly be the Attorney General in the Palin-McSame administration. He is a very powerful man...who needs a life!

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Re: Bush\McCain Adminstration Spends 1.4 Trillion in last 2 days
Posted by: Registered Voter ()
Date: September 19, 2008 10:19PM

Vince, Vince, please.

Try not to get so over wrought.

Yeah, actually I do read the stuff Vince. I like doing research :) If I post my opinion I get ranked on by some folks here, so I figure posting more factual information with references actually raises the level of discourse here. Usually.

Hey Vince.. if you notice, normally I am just posting in response to some of the idiotic shit you post here. Every once in a while I start a thread, but um.. check the list dude... You really should be asking if anyone here thinks you post anything truly meaningful. Most of us here I think just get entertained by reading your loony rants.

:)

Keep trying.

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Re: Bush\McCain Adminstration Spends 1.4 Trillion in last 2 days
Posted by: Vince(1) ()
Date: September 19, 2008 10:39PM

Im fine with entertaining some...and diverting others from doing anything meaningful with their time (you fall into the last group). If there's one thing true about me..it is that I dont go away..espeially when motivated.

As far as caring what you or others think about me! Maybe you want to be Mr Popular...Mr. I can Squash Anyone...if thats the way you get your rocks off..fine...cut and paste away. But then again maybe that wife of your needs alittle attention...at least that's what she told me!

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Re: Bush\McCain Adminstration Spends 1.4 Trillion in last 2 days
Posted by: TheMeeper ()
Date: September 19, 2008 11:08PM

Lopter Wrote:
>>>> 26 years McCain has been in bed with Bush and now he's going "fix Washington" What a bunch of crap!


I love the way Bush/McCain purports his "maverick" aura. He wants to fix Washington and has outlined a "plan" to solve the financial crisis. All these things he wants to accomplish for us; they're all things he could've done during his last 26 years in the Senate.

Gotta love that kind of "experience".

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Re: Bush\McCain Adminstration Spends 1.4 Trillion in last 2 days
Posted by: Lopter ()
Date: September 20, 2008 11:44PM

New number Bush\McCain plan will give banks $700,000,000,000 of taxpayer dollars.

The new program will pay out $700 Trillion tax payer dollars.

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