"Hunter, what's the number of our TALF offshore bank
account? I need a couple million for my campaign."
"Hunter, what's the number of our TALF offshore bank
account? I need a couple million for my campaign."
An investment firm linked to Hunter Biden received over $130 million in federal tax dollar bailout loans while his father Joe Biden was Obama's vice president...... profits were routed through a subsidiary in the Cayman Islands, according to federal banking and corporate records reviewed by the Washington Examiner. Financial experts said the offshore corporate structure could have been used to shield earnings from United States taxes. Rosemont Capital, an investment firm at the center of Hunter Biden’s much-scrutinized financial network, was one of the companies approved to participate in the 2009 federal loan program known as the Term Asset-Backed Securities Loan Facility, or TALF.
Under the program, Obama's US Treasury Department and the Federal Reserve Bank issued billions of dollars in highly favorable loans to select investors who agreed to buy bonds that banks were struggling to offload, including bundled college and auto loans.
According to official federal records, 177 firms participated in TALF, many of them well connected in Washington or on Wall Street. For investors, there was little risk and a high chance of reward. Obama's Federal Reserve funded as much as 90% of the investments. If the bonds were profitable, the borrowers benefited. If not, the department agreed to take over the depreciated assets with no repercussions for the borrowers.---SNIP---rest on FR
"Hunter, what's the number of our TALF offshore bank
account? I need a couple million in a hurry."