Well He In Fact Lied To Those Brothas On Every Point That He Said He Spoke Out On Or Supported.
IT WAS THE SUPERIOR BANK IN CHICAGO, OWNED BY THE PRITZKER FAMILY, THAT ORCHESTRATED THE PREDATORY LENDING SCAM. SUPERIOR BANK WAS IN FACT RUN BY PENNY PRITZKER.
Penny Pritzker Is A Billionaire And One Of The Wealthiest Women In America. She Was Among The First Jews To Finance Obama In Chicago As A Young Senator. In Fact It Was Mostly Jews Who Coached Him And Mentored Him As A "community Activist". The Pritzker Family Owns The Hyatt Hotel Chain, They Are Zionist Jews Who Strongly Advocate For Israel, And They Are One Of The Wealthiest Families In America With Strong Political Influence In American Politics.
"Obama s Sub-Prime Conflict"
by Dennis Bernstein
"Superior Bank of Chicago went belly up in 2001 with over $1 billion in insured and uninsured deposits. This collapse came amid harsh criticism of how Superior?s owners promoted sub-prime home mortgages. As part of a settlement, the owners paid $100 million and agreed to pay another $335 million over 15 years at no interest.
But this seven-year-old bank failure has relevance in another way today, since the chair of Superiors board for five years was Penny Pritzker, a member of one of America?s richest families and the current Finance Chair for the presidential campaign of Barack Obama, the same candidate who has lashed out against predatory lending.
During a recent campaign stop in south Texas, Obama met with San Antonio-area residents who had been particularly hard hit by the sub-prime meltdown. He expressed dismay over how lobbyists for the sub-prime lending industry had spent more than $185 million in the last several years for their cause.
Though Superior Bank collapsed years before the current sub-prime turmoil that is rocking the world's financial markets - and pushing those millions of homeowners toward foreclosure - some banking experts say the Pritzkers and Superior hold a special place in the history of the sub-prime fiasco.
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."
CommonDreams.org /2008/02/28/7340/