Posted in Change, Connections, economy, McCain, obama, tagged bad loans, barack obama, economy, Fannie Mae, Freddy Mac, national finance chair, national finance chairwoman, Penny Pritzker, RICO, subprime, Superior Bank on September 18, 2008|
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The talking heads are doing major lip moving on the economy. What has caused all of these huge institutions to fail? Why now? Was it the big Wall Street fat cats looking to gold-plate yet another bathroom fixture? Just one more Ferrari and I’ll be happy?
And what happened to my favorite house flipping shows?
The catalyst for the economic woes is the subprime lending mess. Did you know Obama’s national finance chairwoman, Penny Pritzker, helped run a Chicago bank, Superior Bank, which preyed upon minorities with subprime lending?
Did you know the bank went out of business after falling 1 billion in debt?
And this from the same article:
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.
Remember, this is the woman who is Obama’s national finance chairwoman!
That’s just the tip of the iceberg.
John McCain in 2005:
Mr. President, this week Fannie Mae’s regulator reported that the company’s quarterly reports of profit growth over the past few years were “illusions deliberately and systematically created” by the company’s senior management, which resulted in a $10.6 billion accounting scandal.
Here are a few links to articles which are tying bad policies back to Obama:
THE REAL SCANDAL- HOW FEDS INVITED THE MORTGAGE MESS
The Best Congress Fannie Could Buy
McCain’s attempt to fix Fannie Mae, Freddie Mac in 2005; Update: Obama can’t get AIG right
More to come…
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The articles are starting to come out.
WSJ’s John Fund has a great one today.
Obama Should Come Clean On Ayers, Rezko And the Iraqi Billionaire
Sometimes the Obama objections have merit, as when they exposed errors in Jerome Corsi’s sensationalized Obama biography. But sometimes they are designed to shut down legitimate questions. “They’re terrified of people poking around Obama’s life,” one reporter told Gabriel Sherman at the New Republic. “The whole Obama narrative is built around the narrative that Obama and [campaign strategist] David Axelrod built, and, like all stories, it’s not entirely true.” The stakes are high. If the full story of Mr. Obama’s relationship with Rev. Jeremiah Wright had been revealed before the Iowa caucus, he wouldn’t have won.
Nothing to see here, move right along, everything’s fine…
Last April, the London Times revealed that Nadhmi Auchi, an Iraqi-born billionaire living in London, had loaned Mr. Rezko $3.5 million three weeks before the day the sale of the house [Barack Obama’s house] and lot closed in June 2005. Mr. Auchi’s office notes he was a business partner of Rezko [purchasing Wisconsin pizzarias] but says he had “no involvement in or knowledge of” the property sale. But in April 2004 he did attend a dinner party in his honor at Rezko’s Chicago home. Mr. Obama also attended, and according to one guest, toasted Mr. Auchi. Later that year, Mr. Auchi came under criminal investigation as part of a U.S. probe of the corrupt issuance of cell-phone licenses in Iraq.
– An Iraqi-born billionaire loans one of Obama’s big fundraisers, Tony Rezko, 3.5 million dollars to buy pizza joints in Wisconsin.
– Three weeks later Obama buys his house for 300K under market value
– Tony Rezko’s wife purchases the lot right next to Obama’s new house
– Obama then purchases a sliver of that lot from Mrs. Rezko for gardening purposes
Remember, nothing to see her. Not newsworthy, move along please.
Wait! I had no idea Iraqi businessmen were so interested in pizza! Must be the deep dish market they’re after.
What’s crazy -the Iraqi-born billionaire is scrubbing the internet of these stories. He’s filling libel charges in the UK for anyone, including American bloggers, who writes poorly about him and Rezko.
Find out more here.
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