Is this going to hurt Beau Biden’s Senate run?
(Reuters) – A fund of hedge funds run by two members of Vice President Joe Biden’s family was marketed exclusively by firms controlled by Texas financier Allen Stanford, charged by regulators with an $8 billion fraud, the Wall Street Journal said.
Paradigm Global Advisors is owned through a holding company by the vice president’s son, Hunter, and Joe Biden’s brother, James, according to the paper.
Paradigm’s attorney, Marc LoPresti, who represents Hunter Biden and James Biden, as well as Paradigm, told the paper he did not know which Stanford entity invested the roughly $2.7 million.
So DV, you’re responsible for what your brothers and sisters do?
Hmm… don’t remember a big stink about Neil Bush – you know, George’s brother.
That said, this doesn’t look good.
Neil Bush didn’t seem to hurt George.
Or Jimmy Carter’s brother or Bill Clinton’s brother or Barack Obama’s African siblings.
I don’t think this will hurt Beau but it just goes to show the cozy relationship between the rich and the powerful.
nemski,
yes, I’m the oldest. comes with the territory
It sounds like Sanford basically allowed these Bidens to run a ‘vanity’ business out of his shop while he picked up much of the risk.
They are/were related to a powerful US Senator turned Veep. Until someone can tell ‘Bulo what these guys’ qualifications were to get them such a cozy spot, the Beast Who Slumbers will have trouble slumbering.
One more thing–one of the inevitable (and positive) developments of this fiscal meltdown is that plenty of rocks will be turned over, and plenty of these de facto quid pro quos (did El Somnambulo just string two Latin phrases together?? Scholar of the Week, bay-bee!) will be outed.
People will finally understand just how corrupt government is at all levels, which is the first step to de-corrupting it.
El Somnambulo will be interested in how what’s left of the News-Journal covers this. Barring a satisfactory explanation, it looks like news to him.
When the economy picks back up I think I’ll open one of these money managment shops where people give me their money and I turn it over to someone else.
That seems like a pretty good gig.
No — given the level of corruption acceptable among Democrats, this is likely to help Biden’s campaign.
Hardy har. You sorta backed in to the truth.
It will not matter.