Now that Sen. Barack Obama chose Delaware Sen. Joe Biden to be his running-mate, Biden's sons are now under close scrutiny and the media has unearthed this item:
A lawsuit is accusing the brother and son of the Delaware senator of defrauding a partner in their hedge fund, a New York-headquartered operation named Paradigm. His brother James, 59, and son Hunter, 38, have denied the allegation, and claim the ex-partner, Anthony Lotito, defrauded them because he lied about his experience working in the hedge fund industry.
For the complete story, go to: HedgeFund.net
Sen. Biden's hands aren't completely clean either. According to The American Thinker:
One area of concern is revealed by Biden's moniker 'The Senator from MBNA." MBNA is a large credit card company now owned by the Bank of America that was formerly domiciled in Biden's home state of Delaware. As a Senator, Biden advocated for the credit-card industry and received large donations from MBNA, in particular. He supported a bankruptcy bill that made it arduous for consumers to escape from their credit card debt by filing for bankruptcy.
Today's New York Times is reporting that the largesse of MBNA also extended to Joe Biden's son, Hunter, who was paid large sums ($100,000) every year from 2001 to 2005 as a "consultant" to MBNA. Hunter serves as a lawyer and lobbyist in Washington-as do many other family members of Congressmen.
The irony is palpable. Barack Obama has made protecting consumers from credit card companies-who he portrays as predatory -- a signature issue. In late 2007, Obama introduced his "Credit Card Safety Act" to help consumers evaluate credit card agreements.
It is funny how Obama railed against the "business-as-usual" of politics and business, then he picks a running-mate who appears to have some conflicts of interest and sons profiteering from "business-as-usual." Things are certain to get interesting.
No comments:
Post a Comment