How Biden Booked Millions (flashback, 7/2/2019)

frontpagemag.com ^ | 7/2/2019 | Daniel Greenfield

[bitt]

In the final years of the Obama administration, Joe Biden’s net worth was estimated at -$947,987. The minus sign was the most important part of that figure. The negative numbers weren’t implausible. After Obama won, Biden disclosed that he was carrying as much as a staggering $465,000 in debt.

But despite being a million in the hole, after his administration was done, he moved into a 12,000 foot estate that looks like a poor man’s replica of the White House with 5 bedrooms, 9 bathrooms, a wet bar, 2 kitchens, a sauna, 8 fireplaces, parking for 20 cars and a master bedroom on an entire floor.

The estimated rent is $20,000 a month.

That’s in addition to buying a $2.7 million vacation home in Delaware and his original lakeside home.

Where did all that money come from? As with Bernie Sanders and Hillary Clinton, part of the answer lies with some very lucrative book deals. The same year that Biden moved into his miniature White House, Macmillan offered Biden and his wife a multi-book contract worth unknown millions. That was quite a lot of money for a retired veep who hadn’t even announced that he was running for again.

Biden’s previous literary adventures hadn’t exactly set the publishing world on fire. On taking office, Random House had paid him a $9,563 advance to record an audio version of Promises to Keep. The campaign book sold some 49,000 copies and netted under $200 in royalties in 2009.

No, there are no missing zeroes there.

Promise Me, Dad, the first of the Macmillan haul, debuted in 2017. On Amazon, it sits at #39,101 in Books, far below Buttigieg's book at #1,387, Kamala Harris' at #12,556 or Elizabeth Warren's at #22,40.

(Though doing far better than Cory Booker's disastrous book, down in the

[ByteMercenary]

How the left inflates (launders) book sales

- A left leaning book publisher advances the ‘author’ several million USD.

- The ‘author’ (AKA ghostwriter) write a few hundred pages of inane tripe and submits it.

- The publisher produces a run of the book.

- Leftist organizations buy, pre-order, etc thousands of copies and pays for it all. This insures that the publisher is reimbursed for their part in the scheme.

- Most of the above purchases are delivered to an almost condemned warehouse probably owned by one of the aforementioned leftist organizations.

- Several months after the book release, an unexplained warehouse fire occurs and the building and it’s contents are completely destroyed. The insurance company covers the loss. This reimburses the leftist organization who made the original bulk book purchase.

- Soon after the fire, the insurance company increases it’s premiums. This spreads the covered loss among the new and existing customers of the insurance company, essentially covering the original advance to the ‘author’. This reimburses the insurance company for their part of the
scheme.

- So the eventual losers are the customers of the insurance company who are unwittingly paying for the politician’s book ... whether they want to or not.