Hunter and Joe Biden have been hit with more charges of suspicious activity with the recent revelation that Rosemont Capital, an investment firm linked to Hunter Biden, received $130 million in federal bailout loans. This happened in 2009 when Hunter’s father Joe Biden was the Vice President of the United States.
More and more evidence points to Joe Biden having used his power and influence to benefit his family, and this needs to be officially investigated.
Conflict of interest
The Washington Examiner reported that “[Hunter] Biden, [Christopher] Heinz, and [Devon] 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.”
“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.”
The report continued, “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.”
The TALF program was a part of the federal bailout loan program then-Senator Joe Biden was such a fan of that he went as far as to delay his resignation from the Senate to vote in favor of the bailouts in January of 2009.
Joe Biden, upon assuming his place as Vice President in the Obama administration, was immediately put in charge of overseeing the federal government’s disbursement of stimulus funds, which were closely linked to the bailout program.
If Biden did purposely steer funds to a company tied to his son, that is a clear cut example of an abuse of power. With all of the reports we have heard about Joe and Hunter Biden’s activities, surely there’s enough to launch an investigation.
Hunter Biden recently resigned his position on the board of a Chinese company and said he wouldn’t work with foreign companies if his father was elected President.
That statement further draws attention to the need to investigate the Bidens’ business activities in the U.S. and overseas. Joe Biden’s position as Vice President presented a huge opportunity for those wishing to gain favor from the Obama administration.
Hunter’s well-paid position on the board of Ukrainian energy company Burisma coupled with the pressure from the Obama administration that got a Ukrainian prosecutor investigating Burisma for corruption fired suggests that Joe Biden may have abused his power as Vice President to the benefit of his son.
While ordinary Americans were seeing their livelihoods destroyed in the recession, the Bidens were doing quite well. If politicians can get away with such behavior, there is no justice and no reason for Americans to trust our politicians.