Posted on 09/23/2021 5:11:04 PM PDT by nickcarraway
New book reveals how Joe Biden’s family used his position for profit
New York Post ^ | September 13, 2021 | Ben Schreckinger
FR Posted on 9/13/2021, 11:40:53 AM by karpov
In January 2006, Hunter Biden was a lobbyist for William Oldaker, who had served as a campaign counsel and treasurer to Joe Biden.
Jim Biden, Joe’s younger brother, called his friend Anthony Lotito for a favor. Hunter needed a new job.
Joe was getting ready to run for the Democratic presidential nomination, and his son’s work for a Washington lobbying firm would be a problem.
At least that was what Lotito later alleged in court filings. Jim and Hunter denied that a call like that ever took place. One way or another, the three of them decided in early 2006 to get into the hedge-fund business.
Owning a hedge fund in New York in the years before the financial crisis was like being a sea captain in 18th-century Nantucket. It was the thing to do.
They set their eyes on Paradigm Global Advisors, founded by James Park, who was married to the daughter of religious leader Sun Myung Moon.
Paradigm’s success was helped by the fact that the firm’s labor costs were low. Many of its employees were Moonies who accepted rock-bottom salaries in exchange for the honor of working in close proximity to Moon’s son-in-law.
About half of its investors were Moonies as well, according to a former executive. Financial success could not solve Park’s personal problems, however. He developed an addiction to cocaine. As his drug use began to complicate his management of Paradigm, Park went looking for a buyer. Lotito connected him with the Bidens.
Jim and Hunter offered to buy the firm out for $21 million. For financing, they leaned on family allies.
Larry Rasky, a lobbyist and longtime political adviser to Joe, was going to pitch in a million dollars in financing, though it is not clear if he ever did.
(Excerpt) Read more at nypost.com ...
Biden is asking for $80 billion tax dollars to enable the IRS to monitor bank accounts to find out what everyone was doing with their money:
<><>How much are they spending?
<><>What are they buying?
<><>Who are they paying?
<><>Where does their money come from?
I’m OK with this......as long as Hunter and the entire Biden family goes first.
Get Hunter on it! He can sell a painting or 2 and cover it for the Big Guy.
Biden is always talking about people paying their fair share. Sickening
Surely they will impeach him. /s
Little Timothy Geithner must have helped him through Turbo Tax. Probably took the whole evening.
Sounds like what led Spiro Agnew to resign as vice-president.
How would you know?
It’s like OboogaooCare: “We have to pass the bill so that you can find out what is in it.” (Famous words of Nanzi Peelousy.)
</sarc>
If he had refused to release his taxes then this story wouldn’t have been possible. Lesson to be learned.
Right. He ought to earn commissions instead.
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