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Terry "Underwhelmed" by Subprime Commerce Pick


Location: Washington, DC

Representative Lee Terry (R-NE), Chairman of the Commerce, Manufacturing and Trade Subcommittee of the House Energy and Commerce Committee made the following statement after President Obama nominated billionaire and subprime lender Penny Pritzker for the post of Secretary of Commerce:

"The track record of Secretary-designee Pritzker is alarming and I'm underwhelmed by this nomination that puts the bank robber in charge of the bank.

"It's unfathomable to me the President can't come up with a better nomination for this key jobs creation post than someone whose qualifications include bundling millions of dollars for his campaign and chairing a failed bank.

"I also find it completely hypocritical that President Obama has nominated someone who has invested money in the same off-shore tax havens he campaigned against while lecturing Americans that they need to pay their fair share.

"This is not the leadership our Commerce Department needs when our unemployment rate sits at 7.6 percent. It's disappointing that the President took nearly a year to nominate someone to this key post in his administration.

"Raising millions of dollars for the President's campaigns is not a qualification to be Secretary of Commerce. Our nation of builders needs a leader at the Commerce Department with a proven track record of creating jobs, innovating and making America more competitive."

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