A new report exposes more possible “quid pro quo” and special favors Hunter Biden received as a result of his father’s power position as vice president.
This time it involved a U.S.-based investment firm called Rosemont Capital.
Hunter Biden's three-week old investment firm, Rosemont Capital received $130 MILLION in preferential federal loans while Joe Biden was VP
If Democrats don't want to investigate shady Ukrainian deals—will they investigate shady deals with US taxpayer dollars?
— Charlie Kirk (@charliekirk11) November 21, 2019
The firm received over $130 million in federal bailout loans while his father Joe Biden was vice president.
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In addition, they reportedly routed profits through a subsidiary in the Cayman Islands, according to federal banking and corporate records.
Financial experts claim those types of offshore corporate structures could have been used to shield earnings from U.S. taxes.
Nice, tax evaders too – but Biden wants to raise our taxes. See how this works?
Rosemont Capital is an investment firm that’s at the very heart of Hunter’s sketchy financial network. It was also 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.
It appears that Hunter Biden’s lifestyle and drug habits were funded by U.S. taxpayers, China, and Ukraine. I wonder who else?
While Hunter got richer, the middle-class died under Joe Biden.
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And as predictable as rain, our fake news media will ignore this, because they’d rather have this crooked globalist in the White House than an honest America First President.
Under the program, the U.S. 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 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. The 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.
“It’s very complicated to become qualified as a TALF borrower or as a TALF fund, if you will,” Carol Pepper, a wealth management specialist, told Forbes in 2009. “But that’s an example of where, if you can get into a TALF fund, you can benefit from this government program.”
Under the terms for the program, any U.S. company looking to invest in select categories of bonds was eligible to apply for the loans. However, the Treasury Department and Federal Reserve maintained the “right to reject a borrower for any reason,” and the internal selection process was criticized by some lawmakers as opaque and open to corruption.
Joe Biden was a key advocate for the financial bailout, which was approved under the Bush administration and expanded under President Barack Obama. He delayed his Senate resignation in January 2009 to cast his final vote to increase funding for the Troubled Asset Relief Program before taking office as vice president.
“These guys are not the most likable guys in the world,” Biden said about the banks and hedge funds aided by the government intervention. “But here are the facts … Had we not bailed out the largest bank institutions in the world, there would have been a flat-out depression.”
One of the firms that benefited was Rosemont Capital, a company led by Hunter Biden’s business partners, Chris Heinz and Devon Archer. The firm received the loans at a crucial time for Hunter Biden. The younger Biden had stepped down from his lobbying business in late 2008, reportedly due to pressure on his father’s vice presidential campaign. [Washington Examiner]
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