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Thune Grills Pritzker About Subprime Bank Failure

Thune Grills Pritzker About Subprime Bank Failure

After over 40 minutes of evasion in Penny Pritzker’s confirmation hearing as Secretary of Commerce, the committee finally heard about the failure of Pritzker’s Superior Bank in 2001 due to subprime lending.

“What do you have to say to the depositors?” Sen. John Thune (R-SD), the Ranking Member on the committee, asked her, asking about those who lost their money and still have not been repaid. Pritzker said that she regretted the failure of the bank but had learned important lessons from it for the future.

Questioning then passed to Sen. Mark Warner (D-VA), who quickly expressed his hope that she would be confirmed.

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