Read the Bills Act Coalition

Thursday, April 3, 2008

Both DEM canddates financial advisers part of the sub-prime mess

From the "just above a tabloid" USA Today:

both Democratic presidential candidates 'rely on close advisers who had oversight roles at financial institutions that went bust because of subprime loans. Clinton's campaign manager, Maggie Williams, earned at least $175,000 serving from 2000-07 on the board of Long Island-based Delta Financial, which filed for bankruptcy last year after a history of high-cost loans to low-income borrowers, according to public records. Obama's national finance chairwoman, Penny Pritzker, was chairwoman of the board of a Chicago-area bank in 1993 when it adopted a subprime business strategy that regulators say ultimately led it to collapse in 2001.'

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