Penny Pritzker, Secretary of Commerce nominee and the billionaire Hyatt heiress who helped finance President Obama’s election, is the same person who, while an appointed Chicago School Board member, approved the closing of 50 Chicago public schools while approving the use of the same education funds to be paid to charter schools – including the Pritzker Academy.
Today: “Goldman is being joined in this effort (a childhood preschool early education program) by the Chicago investor J.B. Pritzker, (Penny’s brother) who is providing a subordinate loan of up to $2.4 million, bringing the total financing to $7 million. The loans will be announced at an event in Chicago on Thursday.” Read more HERE from the New York Times.
Also: “Goldman Sachs is making its second foray into an experimental method of financing social services, lending up to $4.6 million for a childhood education program in Salt Lake City.”
Also: “Though the effectiveness of this type of financing remains unproved, it has gained a prominent adherent in New York City, which allowed Goldman to invest nearly $10 million in a jail program last year.”
Also: “‘We’re creating something sustainable that has a focus on returns,’ Mr. Pritzker said. ‘This titillates my interest in business and engages me.’”
Also: “The loans carry an interest rate of 5 percent, which is paid along with the principal if the program is successful. In the best case, Goldman and Mr. Pritzker would make additional ‘success fees.’” Read more HERE from businesswire.com.
What is going on with one of the wealthiest brother/sister pairs in the world investing with Goldman Sachs? Pre-school programs. Closing public schools. Charter school profits. Prison programs. A U.S. Cabinet position.
What is happening to America, our children and us all?