Reminder: President Everyman’s billionaire besty with offshore trusts confirmed as Commerce Secretary

posted at 6:41 pm on June 27, 2013 by Mary Katharine Ham

The president calls her an entrepreneur and a businesswoman because she’s a Democrat who raises gobs of money for him. If she were a Republican male, she’d be corporate devil out of touch with Main St. heading an investment firm for the obscenely rich with the money in her trust funds, which are by the way in offshore accounts to avoid paying her fair share.

In a nearly unanimous vote, the Senate on Tuesday confirmed billionaire hotel and real-estate magnate Penny Pritzker to become the next commerce secretary.

Pritzker, an heiress to the Hyatt hotel fortune, served as national finance chair of President Obama’s 2008 campaign, as co-chair for his 2012 reelection bid, and as a former member of his Council for Jobs and Competitiveness and his Economic Recovery Advisory Board. The Senate voted 97-1 to confirm her, with Sen. Bernie Sanders (I-Vt.) as the lone dissenting vote.

Obama applauded the Senate’s backing in a statement on Tuesday. “Penny is a proven leader, a successful entrepreneur, and one of the most accomplished and highly-respected women in business today,” he said. “She knows what it takes to build companies from the ground up, and she shares my belief in doing everything we can to help businesses and workers succeed and make America a magnet for good jobs.”


Pritzker made $53 million from her family’s offshore trusts last year, is one of the Forbes’ richest 400 Americans, and has more than $250,000 in debt on an American Express card,
according to her financial disclosures. Did I mention her family was deeply involved in pioneering subprime lending that sunk a Chicago area bank in 2001 and she understated her income by $80 million on those disclosure forms? To be fair, who among us? We’re spared an all-out class war over these stats, or even anything more than passing curiosity about them during her confirmation hearing, because Obama thinks she’s keen.

John Thune did ask her about her offshore fortune, and Democrats declared the line of questioning a “double standard,” having apparently missed their nominee’s entire reelection campaign and the fact that Pritzker forgot to disclose the equivalent of more than one third of Mitt Romney’s entire net worth.

JOHN THUNE: All right, Mr. Chairman, I think it’s just you and me. We’re about to wrap this up and the unpleasantness is about over for Ms. Pritzker. I wanted to ask one other question. and for a minute here I’m going to channel Sen. Grassley, but some have criticized the fact that you’re a beneficiary of some offshore tax avoidance schemes and that it’s hypocritical. How do you respond to that criticism?

PENNY PRITZKER: Senator, I am the beneficiary of offshore family trusts that were set up when I was a little girl. I didn’t create them, I don’t direct them, I don’t control them. I have asked the trustee to appoint and — remove themselves and appoint a U.S. trustee. but I have complied with all the disclosure investigations, etc., that have been required of me during this process.

Well, that’s that. Moving on.

Grassley, on Pritzker’s accounts:

“It isn’t just about her or the offshore stuff, it’s about the fact that the president made a big deal out of Romney’s offshore accounts,” Senator Charles Grassley, an Iowa Republican, said in an interview. “You’d think if that’s a big deal for his opponent, then the president of the United States wouldn’t be appointing people who make use of that in his own cabinet. If it’s wrong, it’s wrong.”

That’s a good one, Senator. The Caymans are totes cool now.


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Let the graft and corruption begin…

coldwarrior on June 27, 2013 at 6:43 PM

Thank God! How would people ever know how to sell goods and services to one another without a government department to help them?

crrr6 on June 27, 2013 at 6:45 PM

She made enough money.

22044 on June 27, 2013 at 6:46 PM

If Anna Wintour’s election ad for Obama didn’t bother Americans, this certainly isn’t going to bother them either.

Marcola on June 27, 2013 at 6:47 PM

Let the graft and corruption begin…

coldwarrior on June 27, 2013 at 6:43 PM

It stopped at some point?

22044 on June 27, 2013 at 6:47 PM

“Ma’am, what are your qualifications exactly?”

“I donated a shitload of money to Demsoc causes and candidates.”

“Good enough for me!”

bictech on June 27, 2013 at 6:49 PM

She’s a good fit for this regime.
As an heiress to the Hyatt hotel fortune, I’m sure she had the same kind of rough and tough childhood of poverty and hard work that Moochelle was just crying about to poor Senegalese kids….

dentarthurdent on June 27, 2013 at 6:49 PM

22044 on June 27, 2013 at 6:47 PM

touche’

the double standard continues though.

CoffeeLover on June 27, 2013 at 6:50 PM

touche’

the double standard continues though.

CoffeeLover on June 27, 2013 at 6:50 PM

What’s up CL?
Hope your coffee met or exceeded your expectations. :)

22044 on June 27, 2013 at 6:52 PM

Obama is so dreamy!

John the Libertarian on June 27, 2013 at 6:57 PM

“Penny is a proven leader, a successful entrepreneur, and one of the most accomplished and highly-respected women in business today,” he said. “She knows what it takes to build companies from the ground up, and she shares my belief in doing everything we can to help businesses and workers succeed and make America a magnet for good jobs.”

WTF? “She knows what it takes to build companies from the ground up.”
Yeah, right. She’s a f**king heiress. I’d liked to have started all my business from a mountaintop, too.

TXUS on June 27, 2013 at 7:00 PM

WTF? “She knows what it takes to build companies from the ground up.”
Yeah, right. She’s a f**king heiress. I’d liked to have started all my business from a mountaintop, too.

TXUS on June 27, 2013 at 7:00 PM

Seriously.
She is none of those things!

22044 on June 27, 2013 at 7:02 PM

Let them eat cake.

Oxymoron on June 27, 2013 at 7:03 PM

Pritzker is part of the Obama Chicago Family, if you know what I mean.

TarheelBen on June 27, 2013 at 7:03 PM

I don’t want to hear jack from another hippy about Corporatism.

Murf76 on June 27, 2013 at 7:07 PM

“It isn’t just about her or the offshore stuff, it’s about the fact that the president made a big deal out of Romney’s offshore accounts,”

Not to worry. The HYPOCRISY doesn’t even bother them. And King Barry excels at speaking out of both sides of his mouth.

GarandFan on June 27, 2013 at 7:15 PM

If only Obama used his thug powers for good, not evil.

runningpundit on June 27, 2013 at 7:15 PM

TXUS on June 27, 2013 at 7:00 PM

Wait….I thought Obama is telling business owners that “You didn’t build that”

Apparently he meant only Conservative business owners. If you are a money bundling leftist business owner then you did “build that” which is still a lie concerning Penny because she didn’t really buld that?

I’m confused

Ditkaca on June 27, 2013 at 7:19 PM

Her nomination was approved 97-1? Ridiculous!

If the Senate Rs had any ‘nads at all, they’d tell Obama and company that until he ceased and desisted from his War on America, his nominees and legislative proposals would not receive a single, solitary Republican vote.

They should, instead, prepare a bill of particulars citing all of Obama’s attacks and attempts to undermine the country and individual liberty, as was done in the Declaration of Independence against the King, and publish it after each vote, including paid ads and however to get the word out to the LIVs.

Until then, I wouldn’t give the bastard the time of day, much less his choice on cabinet positions.

TXUS on June 27, 2013 at 7:23 PM

I inherited my business too, my grandfather gave me his old welding gloves and green-glasses, that’s sort of like inheriting a billion bucks.

Still, why did the GOP help confirm this lying hag?

Bishop on June 27, 2013 at 7:26 PM

Her nomination was approved 97-1? Ridiculous!

If the Senate Rs had any ‘nads at all, they’d tell Obama and company that until he ceased and desisted from his War on America, his nominees and legislative proposals would not receive a single, solitary Republican vote.

They should, instead, prepare a bill of particulars citing all of Obama’s attacks and attempts to undermine the country and individual liberty, as was done in the Declaration of Independence against the King, and publish it after each vote, including paid ads and however to get the word out to the LIVs.

Until then, I wouldn’t give the bastard the time of day, much less his choice on cabinet positions.

TXUS on June 27, 2013 at 7:23 PM

The ruling class protects itself.

This is one more example of why Cabinet posts should have to go through both Houses, not just the Senate. Let the President come up with a set of candidates and let the House weed them out, sending one or two on for a Senate vote.

It wouldn’t stop the Senate from fawning over someone like this, but it would make it less likely that such a candidate would get there to be fawned over.

clear ether

eon

eon on June 27, 2013 at 7:46 PM

bayam! Come out and play…

Del Dolemonte on June 27, 2013 at 7:51 PM

Isn’t she also the one that was arranging for Barky to have a swank retirement home in Hawaii?

bofh on June 27, 2013 at 8:00 PM

Pritzker forgot to disclose the equivalent of more than one third of Mitt Romney’s entire net worth.

This.

Runs deep, does the hypocrisy……

KMC1 on June 27, 2013 at 8:03 PM

She’s a Democrat, isn’t she? 1%er rhetoric doesn’t apply to Democrats.

There Goes the Neighborhood on June 27, 2013 at 8:25 PM

Reminder: President Everyman’s billionaire besty with offshore trusts confirmed as Commerce Secretary

Yes, but she really cares about the Little People, the Brown People, the women who don’t want to be punished with a baby, and the Gay People so like the very wealthy Kennedys, Kerrys and others she’s A-OK with the Left.

Dr. ZhivBlago on June 27, 2013 at 8:38 PM

All I want to do is curse. But I’ll restrain myself.

Cleombrotus on June 27, 2013 at 8:47 PM

She’s kind of hot.
http://binaryapi.ap.org/c4f221c2b0174b3b8a9b7766e6d4832c/512x.jpg

Kenosha Kid on June 28, 2013 at 12:05 AM

I quit alloying my companybtonstay at hyatts.

losarkos on June 28, 2013 at 12:22 AM

I quit staying at hyatts!

losarkos on June 28, 2013 at 12:24 AM

bayam! Come out and play…

Del Dolemonte on June 27, 2013 at 7:51 PM

:-D

98ZJUSMC on June 28, 2013 at 7:55 AM

If she were a Republican male, she’d be corporate devil

If she were a male, Mr Obama would not be kissing her as portrayed in the link-photo on the main page.

Why not?

Since Mr Obama celebrates & promotes this decidedly unhealthy lifestyle, why doesn’t he give the obligatory peck on the ckeek to men?

“Well, he’s heterosexual.”

So?
Did Mr Obama kiss Ms Pritzker because he was sexually attracted to her?
I think not.

itsnotaboutme on June 28, 2013 at 8:28 AM

Oops, I forgot to link this with the word “this” above.

itsnotaboutme on June 28, 2013 at 8:42 AM