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• Billionaire Chicago businesswoman Penny Pritzker was rumored to be President Elect Barack Obama's top choice for Secretary of Commerce. Pritzker was the national campaign finance chair for Obama's presidential campaign. Pritzker is from one of the wealthiest families in the world: she is the granddaughter of Hyatt Hotels founder Abram N. Pritzker, and the sister of J.B. Pritzker.CNN: Sources: Pritzker, Napolitano being vetted for Cabinet (November 20, 2008) Forbes: 100 Most Powerful Women: #89 Penny Pritzker (2005)

• Fast Facts

  1. Born: ca. 1959
  2. Granddaughter of Abram N. PritzkerForbes: 100 Most Powerful Women: #89 Penny Pritzker (2005)
  3. Spouse: Chicago ophthalmologist Bryan Traubert*Wall Street Journal: ...Pritzker raises record amounts... (March 15, 2008)
  4. Education: BA Economics, Harvard University;Harvard Crimson: Penny Pritzker (June 5, 2006) JD, MBA, Stanford UniversityPenny Pritzker Home Page: Biography
  5. Admitted to the Illinois Bar 1985Penny Pritzker Home Page: Biography
  6. Named #89 of the 100 most powerful women in the world by ForbesForbes: 100 Most Powerful Women: #89 Penny Pritzker (2005)
  7. May be given a position in Barack Obama's cabinetCNN: Sources: Pritzker, Napolitano being vetted for Cabinet (November 20, 2008)
  8. In 2007, raised more than $188 million for Obama*Wall Street Journal: Billionaire Penny Pritzker raises record amounts... (March 15, 2008)
  9. Met Obama when her children played on a summer basketball league with Michelle Obama's brother Craig Robinson*Wall Street Journal: [http://webreprints.djreprints.com/2013280744050.html Billionaire Penny Pritzker
  10. raises record amounts...] (March 15, 2008)</ref>

• Pritzger and Subprime Mortgages

  Pritzker is also an owner and board member of Superior Bank of Hinsdale, Illinois, a pioneer in the securitization of subprime mortgages. Superior failed in 2001 with write-down assets of $420 million.Chicago Sun-Times: The Power of Penny Pritzker ... (August 20, 2008)

  The Pritzker family sued accountants Ernst & Young for sloppy accounting practices. Eventually, they agreed to pay the FDIC $460 million over five years to help cover losses. Ernst & Young settled out of court.Chicago Sun-Times: The Power of Penny Pritzker ... (August 20, 2008)

• Related Pages on Mahalo

  Barack Obama | Obama Cabinet | Election 2008 | Obama Transition Team | Harvard University | Stanford University | Michelle Obama | Craig Robinson | Subprime Mortgage Crisis | Subprime Mortgage Bailout | High-Risk Mortgages | John McCain Keating Five | Janet Napolitano | Obama Administration | How to Become a Billionaire

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