Tag Archives: subprime

Commerce Sec. nominee Pritzker, blew up a bank using subprime lending in 2001, left depositors in the cold.

The Penny Pritzker’s father bought Superior bank for his daughter after she graduated from Stanford. Ms. Pritzker expanded the bank into subprime lending, becoming a leader in risky home loans. The bank would die an ugly death however, with serious accounting violations and customers losing $10 million in deposits even though Penny Pritzker was worth over $1.5 billion.

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A Sad Subprime City, Detroit

Detroit used to be one of the “big big cities” of the United States. During the middle part of the 20th Century it was a capital of industry and economic vitality. New York, Chicago, LA, Philly, San Francisco, and Detroit. The heavy hitters. Now Detroit seems only to be taking the hits.

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Another Subprime Mess: Student Loans

I remember the heady days of 2004-2005 when I’d go to barbecues at people’s houses and late 20-somethings and early 30-somethings would rattle on about how much “money” they had made on their house since they bought it.

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