THE TALF SCAM UP CLOSE: Federal records say 177 well-connected (read politically-connected) firms participated in TALF.
For those investors, there was little risk w/ rewards guaranteed. The Federal Reserve (read taxpayers) funded as much as 90% of the investments.
If bonds were profitable, the borrowers benefited. If not, the department took over the depreciated assets with no repercussions for borrowers.
Then-Sen Joe Biden was a high-profile, key advocate for the financial bailout, which was expanded under Obama.
Biden even delayed his Senate resignation in Jan 2009 (prior to taking the VP office).
Biden cast his final Senate vote to increase funding for the TALF Program (in which his son stood to profit handsomely) before taking office as vice president.
Biden said about the banks and hedge funds aided by the government intervention. “Had we not bailed out the largest bank institutions in the world, there would have been a flat-out depression.”
Depression. Joe concocted the perfect cover to make sure his son profited. Wonder what Joe’s cut was?
wonder how many other UniParty families have benefited...
Lord this crap makes me sick. And to think how the rest of us struggled to stay afloat through that stretch of obama ahministration.... 8 loooong years
now 4 more/ somebody pinch me.
And NOTHING, ABSOLUTELY NOTHING will happen to him OR John Kerry’s step son....NOTHING BECAUSE THEY ARE DEMOCRATS!!
The Department of Just Us,which is now busy sending all those armed insurrectionists away for life,will get right on this!
One of the firms that benefited was Rosemont Capital, a company led by Hunter Biden’s business partners, Chris Heinz (John Kerry’s stepson).
Hacks know to use family as a front man for their money scams note how many democrat millionaires in congress and senate.
Always looking out for the little guy (not to catch on).