Replies

MBNA America is mostly an asset picked up at distress upon the collapse of MBNA. MBNA was, itself, essentially a credit card processing center set up in Delaware by M Bank of Texas.

M Bank went under in the mid 1970s.

Throughout its various changes of ownership the credit card operation has continued to provide substantial employment to the Delaware workforce.

MBNA went under by overloading itself with uncollectible debt extended through credit cards to people who had no intention of paying the money back.

Joe Biden has to have some connection to these people or he couldn't live in Delaware.