By Douglas Holtz-Eakin
The young drop coverage to avoid higher premiums
Independent voices from the TWT Communities
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."
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."