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In November 2002, In These Times headlined "Breaking the Bank," saying:
Superior had "a familiar ring. Using a variety of shell companies and complex financial gimmicks, (its) managers and owners exaggerated the profits and financial soundness of the bank.""While (it) actually lost money throughout most of the '90s, publicly it appeared to be growing remarkably fast and making unusually large profits."
"Under that cover, (it) paid its owners huge dividends and provided them favorable loans and other financial deals deemed illegal by federal investigators."
It was a "mini-Enron." When it collapsed, Pritzker and other family members profited hugely. Borrowers and depositors were scammed.
Superior's auditor "doubled as a financial consultant." He engaged in "dubious accounting practices." He played fast and loose with numbers.
Pritzker ignored sound risk management principles. She ran a predatory lending operation.
She made money the old fashioned way. She stole it. She got away with grand theft. She settled for pennies on the dollar. No one went to jail.
Retired Ameritech manager Fran Sweet lost $100,000. She called the Pritzkers "crooks. "They don't care anything about people who spent their whole lives trying to save" she said.
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