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Posted by: dunkirk 1 year, 2 months ago

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dunkirk1 year, 2 months ago

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Sounds like a case of poor judegement by McCain . SO we have McLame making bad decisions on fianancial matters costing people their life savings. Yeah lets see if hes learned his lesson. Altho if you look his push for deregualtion has led to the disaster we;re facing now. And CPns the part you always leave out when you mention the bill he was for well after it wasw being tossed about and defeated by a REPUBLICAN controlled committee was he was FOr Deregulation BEFORE he was against it BEFORE he was for it again. WHatever the people want to hear is what McSame will say. Lets not forget what the Republicans objected to in teh original bailout wasnt 700 billion going to Wall Street but the call for OVERSIGHT on how the money is used and accountability.

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  Klarissa1 year, 2 months ago
  
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  This is a long and complicated story about how Obama backers were behind the mortgage industry meltdown. It hast to start some where, so lets start with a well known Chicago name Penny Pritzker. It starts with a bank failure.
  
  Unfortunately, this wasn't the case for the 1,406 people who lost much of their life savings when 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.
  
  The uninsured depositors were dealt another blow recently when the U.S. Supreme Court let stand a lower court decision to put any recovered money toward the debt that the bank owners owe the federal government before the depositors get anything.
  
  But this seven-year-old bank failure has relevance in another way today, since the chair of Superior's 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.
  
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