Pritzker’s Superior Bank Subprime Losses Blemish Resume
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A 61-page report carrying the seal of the Treasury’s inspector general offers a tutorial for Republican senators interested in challenging Penny Pritzker’s commerce secretary nomination.
The document chronicles the 2001 failure of a suburban Chicago bank after Pritzker and her family expanded subprime lending there and did pioneering work with the kind of mortgage-backed securitization that would eventually spread and help spark the worst recession since the Great Depression.