By Douglas Holtz-Eakin
The young drop coverage to avoid higher premiums
A billionaire Chicago family that donated and raised hundreds of thousands of dollars for President Obama got a $3.5 million discount last year for paying off early a $460 million settlement deal it agreed to in the 2001 failure of a Chicago-area bank it owned.
A billionaire Chicago family that has donated and raised hundreds of thousands of dollars for President Obama got a deal from the federal government to avoid paying all of a $460 million settlement it agreed to in the 2001 failure of a Chicago-area bank it owned, while 1,400 former depositors are still owed more than $10 million in lost savings.
"The Pritzkers shouldn't have had an interest-free deal upfront, and they shouldn't have gotten a discounted payoff at the end," he said. "And the uninsured depositors should have been made whole."
Obama donor got $3.5M FDIC discount in failed-bank settlement →
Clinton Krislov, an attorney for some of the uninsured depositors, said it was wrong for the government to give the Pritzkers "a wealthy person's pass."
Obama donor got $3.5M FDIC discount in failed-bank settlement →
