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November 20, 2008

Billionaire Pritzker Expected to Become Commerce Secretary
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President-elect Obama is also expected to tap billionaire Penny Pritzker
to serve as Commerce secretary. Pritzker is a longtime friend of Obama’s
and served as his national finance chair. Pritzker was involved in
running and overseeing the Illinois-based Superior Bank, which collapsed
in 2001. The bank has been described as being at the forefront of
turning subprime loans into securities, the risky practice at the heart
of the financial crisis.



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