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 offs**** 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.

According to federal records, 177 firms participated in TALF, many of them well connected in Washington or on Wall Street. For investors, there was little risk and a high chance of reward. The Federal Reserve funded as much as 90% of the investments. If the bonds were profitable, the borrowers benefited. If not, the department agreed to take over the depreciated assets with no repercussions for the borrowers.

“It's very complicated to become qualified as a TALF borrower or as a TALF fund, if you will,” Carol Pepper, a wealth management specialist, told Forbes in 2009. “But that's an example of where, if you can get into a TALF fund, you can benefit from this government program.”

Under the terms for the program, any U.S. company looking to invest in select categories of bonds was eligible to apply for the loans. However, the Treasury Department and Federal Reserve maintained the “right to reject a borrower for any reason,” and the internal selection process was criticized by some lawmakers as opaque and open to corruption.

More:

https://www.washingtonexaminer...ile-joe-biden-was-vp

"This is the first time I’ve ever seen a liberal get mad about chopping up a baby."

 

Hoyt Deau Hutchinson

Original Post

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.

 

One of the firms that benefited was Rosemont Capital, a company led by Hunter Biden’s business partners, Chris Heinz and Devon Archer. The firm received the loans at a crucial time for Hunter Biden. The younger Biden had stepped down from his lobbying business in late 2008, reportedly due to pressure on his father’s vice presidential campaign.

 

“This is a great example of the suspicion of many Americans that these bailouts were used to benefit connected insiders while ordinary Americans went broke,” said Tom Anderson, director of the Government Integrity Project at the National Legal and Policy Center, an organization that was critical of TALF at the time.

 

Why wouldn't anyone investigate the Bidens?

Biden raised eyebrows when he shrugged off concerns over the China threat. “Come on, man,” Biden said. “I mean, you know, they’re not bad folks, folks. But guess what, they’re not competition for us.”
Perhaps Biden’s insouciant attitude toward the Chinese government has to do with the fact that his family does not consider them competitors but business partners. In 2013, then-Vice President Joe Biden and his son Hunter Biden flew aboard Air Force Two to China. Less than two weeks later, Hunter Biden’s firm inked a $1?billion private equity deal with a subsidiary of the Chinese government’s Bank of China. The deal was later expanded to $1.5?billion. In short, the Chinese government funded a business that it co-owned along with the son of a sitting vice president.
If it sounds shocking that a vice president would shape US-China policy as his son — who has scant experience in private equity — clinched a coveted billion-dollar deal with an arm of the Chinese government, that’s because it is.
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Besides being crooked the Biden's are just plain trash. That son that Biden's weeps about was not even cold before his brother Hunter left his wife and kids for Beau's widow....with Joe Biden's blessing! It was so fast that their first date was to Beau's funeral. Then he impregnated another woman while married to the "merry widow"...dumped those two and married a woman he had only known a week.

 

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