This is awkward. Dems like to demonize the fatcats who got big bailouts in Obama’s 2009 bailouts, right? Hunter Biden’s company cashed in on a cool $130 Million.
Forget, for a moment, the Biden family conflicts of interest that John Solomon details and authenticates in a timeline you’d never see in the ‘mainstream’ news.
Even without those data points, there is reason enough to ask hard questions of the ‘perks’ of being related to the Vice President. Not everyone was in line for a $130M bailout. What made their company so special that it was ‘too big to fail’?
An investment firm linked to Hunter Biden received over $130 million in federal bailout loans while his father Joe Biden was vice president and routed profits through a subsidiary in the Cayman Islands, according to federal banking and corporate records reviewed by the Washington Examiner.
Financial experts said the offshore corporate structure could have been used to shield earnings from U.S. taxes.
Rosemont Capital, an investment firm at the center of Hunter Biden’s much-scrutinized financial network, was one of the companies approved to participate in the 2009 federal loan program known as the Term Asset-Backed Securities Loan Facility, or TALF.
Under the program, the U.S. Treasury Department and the Federal Reserve Bank issued billions of dollars in highly favorable loans to select investors who agreed to buy bonds that banks were struggling to offload, including bundled college and auto loans.
…“How can my constituents in Vermont get some of that money? Who makes the decisions? Do you guys sit around in a room — do you make it? Are there conflicts of interest?” Sen. Bernie Sanders asked Federal Reserve Bank Chairman Ben Bernanke at a March 3, 2009, Senate hearing. “Do you have to be a large, greedy, reckless financial institution to apply for these monies?”
Joe Biden was a key advocate for the financial bailout, which was approved under the Bush administration and expanded under President Barack Obama. He delayed his Senate resignation in January 2009 to cast his final vote to increase funding for the Troubled Asset Relief Program before taking office as vice president.
Biden directly influenced a vote for which his family directly took profit. What’s more, Hunter has stated that his wealth allowed him to be a benefactor for the whole Biden family.
That’s kind of a red flag, don’t you think?
Especially the offshore account aspect of this. Were all the Corporate taxes paid?
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