By Douglas Holtz-Eakin
The young drop coverage to avoid higher premiums
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.
"We have been stiffed again," said Fran Sweet, 67, a depositor still owed $70,000. "It is a lot to lose. We are not wealthy people. We are white-collar and blue-collar workers who saved this money, [or] thought we saved this money."
In a letter, Ms. Sweet told the FDIC it should "prohibit the Pritzker family from investing in FDIC-insured banks until former Superior depositors are made whole."
