Billionaire business tycoon and former Obama fundraiser Penny Pritzker appears headed for confirmation as commerce secretary, despite concerns about her business dealings. Pritzker and her family owned Superior Bank, a Chicago-based firm that collapsed after the Pritzkers expanded subprime lending. With net worth of more than $1.5 billion, Pritzker stands to be one of the wealthiest Cabinet secretaries in history. Her family started the Hyatt Hotel chain, which has come under scrutiny for her clashes with labor unions. The AFL-CIO says Hyatt has exhibited a broad pattern of labor abuses, including aggressive outsourcing, low wages and the mistreatment of housekeepers. ITT Senior Editor David Moberg discusses on Democracy Now!.
Miles Kampf-Lassin, a graduate of New York University’s Gallatin School in Deliberative Democracy and Globalization, is a Web Editor at In These Times. Follow him on Twitter @MilesKLassin