That would be gold.

Hunter Biden-linked company received $130M in special federal loans while Joe Biden was VP

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



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 United States 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.

“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.

“These guys are not the most likable guys in the world,” Biden said about the banks and hedge funds aided by the government intervention. "But here are the facts ... Had we not bailed out the largest bank institutions in the world, there would have been a flat-out depression.”

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.

Biden, Heinz, and Archer incorporated Rosemont Seneca Partners in Delaware on June 25, 2009. The “alternative investment and market advisory firm” was an offshoot of Rosemont Capital, which held a 50% stake in the new venture. Rosemont Seneca and Rosemont Capital shared the same office address in lower Manhattan and the same New York phone number, according to Securities and Exchange Commission documents. Three weeks after Rosemont Seneca was incorporated, a subsidiary of Rosemont Capital called Rosemont TALF SPV, received $23.5 million in federal loans through the TALF program. This included $13.4 million to invest in student loans and $11.1 million to invest in subprime auto loans. Over five months, the company received a total of $130 million from the program in multiple installments for investments in subprime credit cards and residential mortgages.

“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.

Although the government stopped issuing the loans at the end of 2009, the names of the well connected borrowers and investors were later released — prompting new criticism from lawmakers and the press. In April 2011, Rolling Stone reported that millions in TALF loans had been issued to the wife of Morgan Stanley Chairman John Mack, Miami Dolphins owner H. Wayne Huizenga, and Wall Street titan John Paulson, dubbing the program “welfare for the rich.”

“Our jaws are literally dropping as we're reading this,” Warren Gunnels, an aide to Sanders, told Rolling Stone. “Every one of these transactions is outrageous.”

Sanders also raised concerns that borrowers were using the program to evade taxes. His office staff compiled a list of over 100 TALF investors based in the Cayman Islands and other known tax havens.

“It has been estimated that each year corporations and wealthy individuals avoid approximately $100 billion in U.S. taxes through the use of abusive and illegal tax shelters,” wrote Sanders in a letter to Bernanke. “Why would the Fed lend to material investors located in the Cayman Islands?”

Federal Reserve records show Rosemont Capital was one of the companies that set up an offshore limited partnership, called “Rosemont TALF Investment Fund LP,” to participate in the TALF program. The fund was incorporated in the Cayman Islands on May 14, 2009, and dissolved on Nov. 14, 2014, according to corporate records in the British territory. The fund was managed by a Delaware-based subsidiary of Rosemont called “Rosemont TALF GP,” SEC records show.

Another investor in Rosemont’s TALF fund, called “Rosemont TALF Opportunities Fund II,” was also based in the Cayman Islands. Additional Rosemont TALF investors included two Greek shipping magnates, a California class action attorney and a financial trust based in Liberia.

Tax experts said the Cayman Islands were a popular location at the time for hedge funds and corporations to set up subsidiaries in order to avoid paying certain U.S. taxes. Didier Jacobs, a senior policy adviser at Oxfam America who focuses on international finance, said an estimated $2.7 trillion was parked in the Cayman Islands and other tax havens prior to the U.S. tax reform in 2017.

“As long as it was sitting there, it was not taxed. That’s why there was a lot of money sitting there in the Cayman Islands,” said Jacobs.

Steve Rosenthal, a senior fellow at the Urban-Brookings Tax Policy Center, said the use of an offshore company could also help investment firms reduce the tax liability for foreign or tax-exempt investors who could otherwise be subject to U.S. taxes.

Matt Gardner, a senior fellow at the Institute on Taxation and Economic Policy, said the most likely reason for setting up a company in the Cayman Islands would be to take advantage of its tax laws.

“It seems like a pretty basic ask that any recipient of these TALF loans would act in a certain ways. And one of those ways would be to not organize their businesses to avoid taxes in the Caymans,” said Gardner.
News

Debate uproar as Biden stumbles, saying 'only African American woman' elected to Senate supports him

https://www.washingtonexaminer...-senate-supports-him

Joe Biden caused an uproar at Wednesday night's Democratic presidential debate when he falsely claimed that the only black female senator supported him.

Pivoting from a back-and-forth with New Jersey Sen. Cory Booker about decriminalizing marijuana and expunging the criminal records of those convicted of related offenses, the former vice president claimed he virtually emerged from the black community.

"Secondly, I’m part of that Obama coalition," Biden explained. "I come out of the black community in terms of my support. If you notice, I have more people supporting me in the black community that have announced for me because they know me. They know who I am. Three former chairs of the black caucus, the only African American woman who’s ever been elected to the United States Senate, a whole range of people —"

Biden was then interrupted by Booker and California Sen. Kamala Harris, both of whom are black. "That's not true!" Booker exclaimed, while Harris said, "The other one is here." The camera cut to Harris laughing and shrugging in confusion.

Biden then clarified, "I said the first!" The first black female senator was Carol Moseley Braun, who represented Illinois from 1993 to 1999. "One of the reasons I was picked to be vice president was because of my relationship, long-standing relationship with the black community," Biden continued.

Biden has raised eyebrows for his many verbal slipups throughout the 2020 primary. He stoked controversy of a racial sort when he regaled audiences with a story in September about fighting off a gang leader named "Corn Pop" when he served as a lifeguard at a predominantly black pool in 1962. Prominent black journalist Michael Harriot expressed skepticism that the story was

This is worse than "please clap" or the "Dean Scream" in terms of sinking a presidential bid. Joe's going out with the death of thousand cuts here, and he's the one slinging the blade.

I mean, I'm enjoying the shit-show, but damn. I almost.... No. No, I don't feel bad for him. Keep slashing, Joe.

Here's a thought exercise: Watch the above clip with the sound off and think about either of those idiots being President. You've got angry crazy eyes on the left, looking like he's about to go full bath salt cannibal and gnaw the other guy's face off, and the guy on the right holding his hand up waiting for teacher to call on him because he thinks he might know the answer to the question but he's scared of getting his face gnawed off for answering it. /shudders

quote:

Joe Biden caused an uproar at Wednesday night's Democratic presidential debate when he falsely claimed that the only black female senator supported him.
Biden then clarified, "I said the first!"

I really don't care about the verbal slip ups. If he makes a mistake, or a gaffe, the voters can judge what he meant.
It's the outright corruption, in connection with his son Hunter Biden, and in collusion with Ukraine and China that ought to disqualify him.

Biden is the one who is obviously guilty of what they accuse Trump. Why hasn't he been indicted for corruption?

quote:

Originally posted by chellim1:

quote:

Joe Biden caused an uproar at Wednesday night's Democratic presidential debate when he falsely claimed that the only black female senator supported him.
Biden then clarified, "I said the first!"

I really don't care about the verbal slip ups. If he makes a mistake, or a gaffe, the voters can judge what he meant.
It's the outright corruption, in connection with his son Hunter Biden, and in collusion with Ukraine and China that ought to disqualify him.

Biden is the one who is obviously guilty of what they accuse Trump. Why hasn't he been indicted for corruption?

He is a Democrat.Makes all the difference in Washington.

quote:

Originally posted by wcb6092:
Biden is the one who is obviously guilty of what they accuse Trump. Why hasn't he been indicted for corruption?

Can you imagine the laughter at WaPo or NYT 'news'rooms at hearing a question like this? Nothing can be done to them, but I agree, Biden should be under this scrutiny, and it should have happened long ago.

Will Joe Biden Take the Fifth in a Senate Trial?

The spectacle of the former vice president testifying before the Senate would be a disaster for Democrats.

Adam Mill - November 20th, 2019

Recently, I asked a liberal friend whether Joe Biden would assert his Fifth Amendment rights in an eventual trial before the Senate. “That’s never going to happen,” my friend sniffed. He went on to mock the “conspiracy theory” that the Ukrainians interfered in the election and the “debunked” theory that Hunter Biden somehow broke a law by taking money from Burisma.

“Yes it will,” I responded. “The whole theory for impeachment hinges on the assumption that the investigation of the Bidens was just a personal political hit job to help in 2020. If Trump can establish a legitimate law enforcement concern in looking into the Bidens and/or Ukrainian interference in the 2016 election, the whole thing falls apart.”

And it doesn’t stop there.

As I’ve pointed out, the “whistleblower” and Representative Adam Schiff (D-Calif.) have also claimed to have access to secret evidence of presidential wrongdoing. Both have smeared the president in the court of public opinion. Thus, it’s only fair that both be asked to show the American people where they got their information.

What’s also relevant is whether there’s any “there” there when it comes to Ukrainian meddling in the 2016 election. Politico reported on this meddling as early as January 2017 and the story remains solid. If so, then the president requesting cooperation with that inquiry is likewise legitimate. As Rep. Devin Nunes (R-Calif.) notes, this makes former DNC operative Alexandra Chalupa relevant. She obtained dirt on Trump campaign officials from the Ukrainian embassy to help Clinton beat Trump in 2016. Who paid her? Were those payments reported as “campaign expenditures”?

A trial in the Senate would not be refereed by Adam Schiff or the media. For now, they can roll their eyes and dismiss the evidence that President Trump was on to something when he mentioned both issues in the phone call with Ukraine’s president. As NBC recently wrote of Nunes’ requests for witnesses, “Schiff poured cold water on the request, saying the impeachment probe would not serve ‘to carry out the same sham investigations into the Bidens or debunked conspiracies about 2016 U.S. election interference’ that Trump asked Ukraine to conduct.” While Schiff acts as both prosecutor and trial judge, he can enforce that interpretation. But he won’t have that role in the Senate.

Which brings us back to former Vice President Biden as a presidential defense witness. What a disaster that would be for Democrats. Not only does Biden have a huge problem with accurately retelling stories without embellishment, but he was also inside the Obama Administration’s inner circles. He might know about Crossfire Hurricane. He might know about FISA abuse.

He certainly knows about what he did to get the Ukrainian prosecutor fired. Just imagine a Joe Biden searching for explanations for his interest in this particular prosecutor who just happened to be prosecuting his son’s company. And what did Hunter do to justify that outsized salary? Even the media struggles with this explanation. NPR hilariously claimed that “Burisma brought Hunter Biden on board in an effort to look like it was cleaning up its act.”

And while Joe Biden is tied up preparing to testify in next year’s lengthy impeachment trial, Senators Kamala Harris (D-Calif), Bernie Sanders (D-Vt.), Elizabeth Warren (D-Mass), Amy Klobuchar (D-Minn.), and Corey Booker (D-N.J.) will be held hostage six days a week for between six and eight weeks during the height of the Democratic primaries.

Biden has never yet had to face any hard questioning about his involvement in Ukraine. The media rarely pushes him on his denials. “There’s not a single solitary thing anyone said that was done wrong,” Biden said last month. “I don’t discuss business with my son. Everybody has looked at that.”

Well, here is a picture of Biden golfing with his son and Burisma executives. Actually, the video is better: anti-corruption Joe and Hunter golfing with notoriously corrupt Burisma executives. Look carefully at the pictures. Does it look like they just had a vigorous argument during which Joe threatened Burisma with legal consequences if it doesn’t stop its corrupt activities?

It’s simply inconceivable that Joe Biden would agree to testify. He can’t keep his story straight. A Senate trial would require him to speak for hours on end without saying outlandish things. Reasonable people must agree that Joe Biden will never testify in the Senate trial. But that almost certainly means the effort either will be rigged against the president or it will self-destruct before the issue is forced. The third option would be for Biden to assert his Fifth Amendment right against having to testify against himself. In any case, it will be interesting.

Adam Schiff reminds us of the optimist falling from a great height. “So far so good,” he says, pretending not to notice the approaching earth. Soon, gravity will reassert itself over this farce. He’s having fun for now. But that weightless giddiness he barely disguises will soon end badly for him.

https://amgreatness.com/2019/1...h-in-a-senate-trial/

Joe Biden, the brain that never stops. Er, ...starts.

MSM Ignores Hunter Biden Buds' $130 Million Taxpayer Cookie Jar Raid

On Thursday, the Washington Examiner reported that an investment firm central to Hunter Biden's financial dealings received more than $130 million in federal bailout loans while Joe Biden was vice president.
Devon Archer (far left) is pictured with Joe and Hunter Biden. (Screenshot from Twitter)

Rosemont Capital - named after former Secretary of State John Kerry's 90-acre Heinz family estate outside of Fox Chapel, Pennsylvania - was founded by Hunter Biden, Christopher Heinz, and longtime friend Devon Archer.

According to the report, Rosemont was one of just 177 firms to participate in Obama's 2009 Term Asset-Backed Securities Loan Facility (TALF), which issued billions of dollars in favorable loans to investors who agreed to buy bonds from struggling banks, including college and auto loans.

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.

...

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.

...

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. -Washington Examiner

And while the Examiner reviewed "federal banking and corporate records" for their report, the MSM is completely silent about this obvious graft.

CNN, NBC, MSNBC, ABC, CBS and FOX have all been radio silent on this report.

Imagine if an investment firm established by Trump Jr., Nicholas Pompeo and a college roommate received a similar government handout?

"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.
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Who else got handouts?

According to the report, "In April 2011, Rolling Stone reported that millions in TALF loans had been issued to the wife of Morgan Stanley Chairman John Mack, Miami Dolphins owner H. Wayne Huizenga, and Wall Street titan John Paulson, dubbing the program “welfare for the rich.”"

"Our jaws are literally dropping as we're reading this," said Bernie Sanders aide, Warren Gunnels. "Every one of these transactions is outrageous."

https://www.zerohedge.com/poli...ayer-cookie-jar-raid

Thinking about if the dims would risk outing their most promising candidate with an impeachment inquiry, they already have. Assuming they have weighed how this would expose uncle joe and his son's corruption, I guess they've already decided the bidens are expendable. Keeping a loser as a candidate doesn't mean much, especially when maybe none of them can beat DT in 2020.

I think joe and hunter are in a really bad position, the democrat party/establishment has already decided you aren't worth protecting and are expendable, maybe already thrown under the bus.

I'm sure sleepy uncle joe hasn't figured it out yet, but maybe hunter has.

Saw some clips of Biden in this last debate. He has trouble getting the thoughts in his head funneled to his mouth. There is some sort of disconnect going on. In short he's losing it.

The SOB lost it a long time ago. Anyone else wondering why the Crimson Kenyon has not come out and endorsed Biden? Regards 18DAI

ok, it's Page Six, but this is so Hunter Biden

https://pagesix.com/2019/11/27...paign=site%20buttons

The woman suing Hunter Biden for paternity was a stripper at a Washington, DC, club he frequented around the time he was dating his brother’s widow, sources told The Post.

Biden was repeatedly seen at the Mpire Club in the capital’s historic Dupont Circle neighborhood — where Lunden Alexis Roberts, the mother of his alleged love child, worked under the stage name “Dallas,” the sources said.

“He was well-known,” a source said of Biden, the son of former Vice President Joe Biden, the Democratic front-runner to challenge President Trump next year.

Roberts worked there around the time she got pregnant — and when Hunter broke up with former sister-in-law Hallie Biden, the widow of his brother, the late Delaware Attorney General Beau Biden, sources said.

The Mpire Club is about three blocks north of another DC strip joint, Archibald’s Gentlemen’s Club, where The Post previously revealed that workers suspected Hunter, who has a history of alcoholism and addiction, of smoking crack in a VIP room in late 2018.

In a New Yorker profile published on July 1, Hunter claimed he hadn’t been to a strip club in years before Page Six exclusively revealed his relationship with Hallie and details of a divorce filing against him by then-wife Kathleen Biden.

After the expose was published on March 1, 2017, Hunter said, “I went directly to a strip club. I said, ‘F–k them,'” according to the New Yorker.

That incident at Archibald’s — which came after Hunter’s most-recent admitted drug use, a crack binge during the fall of 2016 — occurred while he sat on the board of the Ukrainian natural gas-company Burisma.

Roberts filed her paternity suit against Hunter in May, less than two weeks after he married second wife Melissa Cohen following a whirlwind, six-day romance.



xxxxxxxxxxxxx


didn't Joe Biden say Hunter would join him on the campaign trail ?

^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

"Bareback Biden"

quote:

Originally posted by 18DAI:
Anyone else wondering why the Crimson Kenyon has not come out and endorsed Biden? Regards 18DAI

I'm not wondering, it's implied: he wants to let sleeping dogs lie. It's likely why he, in fact, has discouraged Great Grandpa Joe from running on at least a few occasions, if the media can be believed at all. "Joe, you don't have to do this." There's dirt that will get dug up on those two clowns in this election cycle. Likely wouldn't have happened if Joe hadn't run. Bet your ass that Zippy has had his face buried in his hands for... wait... how long has it been since he spoke up like he thought he mattered? It's been a while.

Here’s Joe biting his wife’s finger while she was speaking at a rally.

quote:

Originally posted by RAMIUS:
Here’s Joe biting his wife’s finger while she was speaking at a rally.

Oh boy, he ain't all there.

Video at link. This is crazy.



'This can't be real life': Joe Biden leaves many grossed out with odd story about his leg hair

https://www.washingtonexaminer...y-about-his-leg-hair

Joe Biden left many Twitter users queasy after a clip from the campaign trail showed him discussing children playing with his leg hair.

During the campaign speech, Biden, 77, described how little kids used to play with his blond leg hairs in the swimming pool while telling a story about his time working as a lifeguard.

“By the way, you know I sit on the stand and it’d get hot. I got a lot of — I got hairy legs that turn blonde in the sun,” Biden said. “And the kids used to come up and reach in the pool and rub my leg down so it was straight and then watch the hair come back up again.”

He concluded his tale by saying, “I love kids jumping on my lap.”

Biden was mocked online for his odd story about children rubbing his hairy legs in the pool.

This is the second oddball moment Biden has had surface this weekend causing a stir online. He was also mocked for nibbling his wife’s finger during a campaign speech in Iowa on Saturday. Overall, Biden’s handsy moments have thrown a shadow over his campaign following accusations that he has made women uncomfortable by being too hands-on and sniffing their hair.

Biden is the front-runner in the Democratic presidential primary. He leads in most polls with a RealClearPolitics polling average of 27% support.