Obama

By David Freddoso

Barack Obama is casting quite a few stones over today’s financial crisis. He blames deregulation (wrong) and greed (partly right). But if he wants to know how the current economic crisis unfolded, he might want to look instead at his own campaign team. Not only does it contain two former CEOs of Fannie Mae -- the government-backed actor that caused most of today’s problems in the secondary mortgage market -- but it also includes a banker whose strategy of aggressive subprime lending caused a bank to collapse, according to federal regulators.

Penny Pritzker was that banker, and she currently serves as Obama’s national finance chairwoman. She has been a supporter of Obama ever since the summer of 2002, when she first agreed to help finance his 2004 U.S. Senate campaign. She is also one of America’s wealthiest women, coming from the family that owns the Hyatt hotel chain. In her family, they don’t fight over the remote control. They fight over who took a billion dollars from whose trust fund -- this was literally the subject of an intra-family lawsuit in 2002.

Aside from the money she has raised from others on Obama’s behalf, Penny Pritzker’s family contributed roughly $39,000 to his 2004 Senate campaign. They have continued their generosity toward his presidential effort, giving some $48,000 in all as of this summer.

Pritzker was chairwoman of the board for her family’s bank, Superior Bank FSB, until 1994, when she became director of its holding company. In 1993, she had overseen the fateful decision to adopt a new business strategy of aggressive subprime lending. The bank would actually come in for some criticism for this on the Left -- in 2000, the National Community Reinvestment Coalition (NCRC) sent a letter to federal bank regulators to alert them to Superior’s subprime lending practices, accusing the bank of poor risk management and of targeting minorities for subprime loans at a rate that far exceeded other financial institutions.

They were at least right about the poor risk management. But as Superior neared collapse in May 2001, Pritzker penned a letter promising to “once again restore Superior's leadership position in subprime lending.” Superior’s collapse that July caused 1,400 people to part of their savings, and prompted a $750 million bailout by the FDIC. Such bailouts do not directly affect taxpayers, but they do ultimately create extra costs for all banks and bank customers.

The subprime strategy that Pritzker had endorsed was a major part of the problem leading to the bank’s insolvency, according to the federal Office of Thrift Supervision. As that government agency reported at the time:

Superior Bank suffered as a result of its former high-risk business strategy, which was focused on the generation of significant volumes of subprime mortgage and automobile loans for securitization and sale in the secondary market.

The FDIC places much of the responsibility for the collapse on the board and managers at Superior, saying they “ignored sound risk-management principles and failed to adequately oversee Superior's operations.” The Pritzkers agreed to pay a $460 million settlement—$100 million up front, and the rest (without interest) over a period of 15 years. According to the Associated Press, the Pritzkers’ settlement “barred government action against the owners,” who “admitted no liability.”

In April 2008, Pritzker told USA Today: “I regret that Superior Bank failed.” She went on, “My family voluntarily agreed to pay the FDIC $460 million … without litigation or any allegation by federal regulators of wrongdoing. I am proud of how my family responded to this situation.”

In other words, she was proud that her bank had returned some of her customers’ money. For even after the large legal settlement and the FDIC bailout, some 1,400 account holders came up $10 million short, on aggregate. The Chicago Sun-Times quoted one of the people who lost money, a 63-year-old woman who had unfortunately deposited her retirement savings in Superior just before the collapse: “They still owe me $113,000,” she said.

Aggressive subprime lending is an important component of the economic crisis we currently face. So when you hear Barack Obama discuss the current problems, don’t forget that his campaign’s top money-woman was one of the actors in this drama, who gambled in the subprime mortgage market, and lost millions for her bank customers.

David Freddoso, a staff reporter for National Review Online. This essay is based on a section from Chapter 11 of his New York Times bestselling book, The Case Against Barack Obama: The Unlikely Rise and Unexamined Agenda of the Media’s Favorite Candidate.

If there is any doubt about the radical agenda in our school systems, this California teacher just put that to bed. She asked to remain anonymous and courageously agreed to join Glenn on radio Wednesday and provided a document all about the mandatory training the teachers in her school district all had to complete.

They are not required to implement the training in actual curriculum but they are encouraged to talk to their kids about it. She asked colleagues what they thought about the training and many said that it was not sitting right with them but maybe it was because they had racist tendencies themselves.

Read the full document here:

Howtotalkabout race.pdf

Here's how the conversation went:


Teacher Speaks Out | Five OUTRAGEOUS "Critical Race Theory" Lessons Unions Want to Teach your Kids youtu.be

Once again, the media has failed to carry out even the most cursory investigation when it comes to allegations against Rep. Ilhan Omar (D-Minn.). But investigative journalist David Steinberg has been piecing together "32 new, verifiable, archived pieces of evidence" that indicate Omar conducted the "most extensive spree of state and federal felonies by an elected congressperson in U.S. history."

Steinberg joined Glenn Beck on the radio program to detail how the pieces fit together in his latest report available on TheBlaze.com.

"It's over," Steinberg told Glenn. "There's really nothing left. It's all ... the publicly available documentation that anyone would need to be convinced that, for eight years, [Omar] married her brother to commit immigration fraud. And this marriage fraud also was in the service of education fraud/student loan fraud. And along the line, we have evidence, that she filed at least two years of fraudulent tax returns, possibly eight [years]. We have evidence that she perjured herself eight times during her 2017 divorce from this man. And along the way, of course, we know she was living in public housing. We also know she was likely receiving subsidized child care.

"Essentially, almost everything she put her name on for eight years was perjury or fraud. And it all adds up to likely the most extensive spree of state and federal felonies by an elected congressperson in U.S. history. I really have no other way to put it. That's how big this is."

Watch the video below to get the details:

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The extreme-left idea that gender is "fluid" is a complete denial of science, according to sex researcher and neuroscientist Dr. Debra Soh.

Dr. Soh joined Glenn Beck on his latest podcast to talk about her new book, "THE END OF GENDER: Debunking the Myths about Sex & Identity in Our Society" and to offer a hard dose of objective truth about gender and sexual orientation based on scientific facts.

She also explained why she had to leave academia to be able to speak freely about sex and identity, and how — despite being a liberal — the far-left is actively trying to cancel her for saying there are biological differences between men and women.

Watch the video clip below or find the full episode of the "Glenn Beck Podcast with Dr. Debra Soh here.

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In February 2020, Glenn Beck and his research team uncovered an alleged multi-billion dollar money laundering scheme which lead to a missing $1.8 billion in U.S. aid sent to Ukraine during the Obama administration, all of which pointed to Igor Kolomoisky, the corrupt Ukrainian billionaire at the center of it all.

If you missed Glenn's February special, "Ukraine: The Final Piece," you can find it here.

This week, the FBI raided the offices of U.S. companies owned by Kolomoisky in Cleveland and Miami. Additionally, the Department of Justice accused the Ukrainian oligarch of stealing billions of dollars from PrivatBank and then laundering the money through a network of companies all over the world. Kolomoisky and partner, Hennadiy Boholyubov, owned PrivatBank until December 2016, when Ukraine nationalized the bank because billions of dollars had gone missing.

Kolomoisky has ties to the Ukrainian gas firm Burisma, former Burisma board member Hunter Biden, and Ukrainian President Volodymyr Zelensky, whose phone call with President Donald Trump was central to the Democrats' now-failed impeachment attempt.

On the radio program Friday, Glenn spoke with chief researcher Jason Buttrill about these latest developments.

"Yeah, $1.8 billion of [taxpayer] money that just vanished has now been found, or at least part of it, in Miami and Cleveland," Glenn said.

"I can't believe it's taken this long," Jason responded. "You said in February that [Kolomoisky] was the key to finding out where the money went. And we're talking about $1.8 billion dollars — $1.8 billion! That could finance a small war."

"That money went to PrivatBank — that's Kolomoisky's bank," he continued. "It was later nationalized after they found out all this money was mysteriously going missing. But it went through a bank in Cypress then, poof, it was laundered all over the world. [...] We also showed, in one of the previous shows, that there were wire transfers going from Burisma, which Kolomoisky is the managing principal of, to Hunter Biden."

Glenn and Jason also talked about recent reports from the Department of Homeland Security (DHS) alleging ties between American revolutionaries, such as Antifa, and Marxist terrorists in Syria, which BlazeTV exposed back in June. Find out more here.

Watch the video below for more details:



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