Joe Biden’s youngest son, Hunter, has a long and muddled history of profiting from business interests tied to the former vice president’s political influence.
The younger Biden, who has a storied history of personal and professional issues, is at the center of controversy after President Donald Trump suggested the Ukrainian government look into his business dealings in the country. Although the Bidens are denying any wrongdoing, even going to the extent of accusing Trump of abusing his power, the situation only underscores the shadowy nature of Hunter Biden’s professional life.
Breitbart News is providing an indepth breakdown of instances in which Hunter Biden’s business interests directly intersected with his father’s position in elective office.
1. Joe Biden’s top campaign contributor hired Hunter fresh out of law school.
Shortly after Joe Biden was reelected to the U.S. Senate in 1996, his largest campaign contributor, the credit card issuer MBNA Corp., hired Hunter for an undisclosed role. The job raised eyebrows from ethics watchdogs since MBNA employees had just donated $63,000 to Joe Biden’s reelection campaign in what appeared to be a coordinated manner designed to sidestep federal campaign finance regulations.
Clouding the picture even further was the fact that then 26-year-old Hunter Biden was a recent graduate of Yale Law School with no banking or business experience. Both father and son defended the job offer, claiming nothing improper had or would result because of the arrangement.
“Unfortunately, no matter where I went to work, some people would make an issue of it,” the younger Biden told the Delaware News Journal in November 1996 when the job was announced.
Despite his role being unknown at the time of his hiring, when Hunter Biden left the company in 1998 to join the Clinton-era Commerce Department it was as a senior vice president.
Throughout the 1990s and early 2000s, Joe Biden was championing bankruptcy reform legislation endorsed by financial interests and credit card companies such as MBNA.
2. Hunter Biden was on MBNA’s payroll while Joe Biden was writing bankruptcy reform legislation.
In the early-2000s, Hunter Biden remained on MBNA’s payroll as a consultant while his father was writing and pushing the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005. The arrangement, which did not become public until after the law was passed, started in 2001 after Hunter Biden had left his position in the Commerce Department. Hunter Biden was paid monthly consulting fees, with some claiming they ranged upwards of $100,000, to advise the company on online banking issues.
The 2005 bankruptcy law tightened regulations to make it extremely difficult to declare bankruptcy. The law was heavily favored by MBNA and other giants in the banking and finance sectors. Many consumer protection advocates, including Sen. Elizabeth Warren (D-MA), have claimed the bill benefited special interests at the expense of consumers. Some have even suggested the law only served to hasten and aggravate the recession of the late 2000s.
As previously reported by the New York Times, Biden worked against many of his own fellow Democrats in Congress to ensure the final version of the bill was free of provisions opposed by companies such as MBNA.
Biden “was one of five Democrats in March 2005 who voted against a proposal to require credit card companies to provide more effective warnings to consumers about the consequences of paying only the minimum amount due each month,” the Times noted.
3. Hunter Biden sought to monetize off his father’s political standing on Wall Street.
In 2006, shortly before Joe Biden assumed the chairmanship of the Senate Foreign Relations Committee and launched his second presidential campaign, Hunter purchased a hedge fund called Paradigm Global Advisors with his uncle, James. Although neither had a strong background in finance, James and Hunter believed they could leverage Joe Biden’s political connections to their benefit.
“Don’t worry about investors,” James Biden, the former vice president’s younger brother, purportedly told Paradigm’s senior leadership upon taking over the fund, as reported by Politico. “We’ve got people all around the world who want to invest in Joe Biden.”
Paradigm’s executives claim that James and Hunter Biden saw the hedge fund as a way to “take money from rich foreigners who could not legally give money” to Joe Biden’s campaign account.
“We’ve got investors lined up in a line of 747s filled with cash ready to invest in this company,” James Biden allegedly told Paradigm’s staff. KEEP READING
SNIP: Yeah Yeah, we already know the Bidens are fools and cheats.
But it’s important that we get every single story out there about their gaffes, their cheating and improper or illegal deals that they make (And continue to make).
Flood the market with these articles. It may not convince a Joe-lover of anything, but we don’t really care about the window-licking Joe-lovers. We want the guy who hasn’t quite made up his mind yet, or isn’t quite paying attention. Eventually, he’s gonna get curious. He’s going to start asking questions.
We are not yesterday’s Republican.
We don’t just let shit sit,
we don’t say, ‘Oh, leave him alone’,
we don’t let the media control our words, and not fight back because we mustn’t upset anyone.
I am Today’s Republican. I’m here to shout back, expose the truth, support my country, and snatch some wighats, if need be, in the process.
[Sorry for the chatty rant, I mistakenly had some caffeine, and it’s late.]