Monday, June 11, 2012

Obama donors get deal; depositors get ‘stiffed again’

A billionaire Chicago family that has donated and raised hundreds of thousands of dollars for President Obama got a deal from the federal government to avoid paying all of a $460 million settlement it agreed to in the 2001 failure of a Chicago-area bank it owned, while 1,400 former depositors are still owed more than $10 million in lost savings.... - Chuck Neubauer/Washington Times

Despite the bank’s failure, the Pritzkers have continued to make money — 11 of the heirs are billionaires, according to Forbes magazine. One of those heirs, Penny Pritzker, was the national finance chairwoman of Mr. Obama’s 2008 presidential race...