By Peter Flaherty
November 22/23, 2019 "Information
Clearing House" - Alana Goodman
in today’s Washington Examiner
reports that Joe Biden’s son Hunter was
associated with a firm that received more than $130
million in financial bailout funds. The firm called
Rosemont Capital then set up a fund that was
incorporated in the Cayman Islands, presumably for
the purpose of avoiding U.S. taxes. From the
article:
“This is a great example of the suspicion of
many Americans that these bailouts were used to
benefit connected insiders while ordinary
Americans went broke,” said Tom Anderson,
director of the Government Integrity Project at
the National Legal and Policy Center, an
organization that was critical of TALF at the
time.
The bailout program was known as the Term
Asset-Backed Securities Loan Facility, or TALF. It
was separate from the Troubled Assets Relief Program
(TARP) but was part of the same package of actions
initiated in 2008 in response to the financial
meltdown. TALF was a loan program that allowed
securities backed by consumer loans of questionable
quality to be posted as collateral. Its purpose was
to ensure liquidity in consumer loan markets. The
loans were made by the Federal Reserve so they were
not subject to Congressional oversight.
This article was originally published by "National
Legal and Policy Center" -
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==See Also==
Giuliani associate Lev Parnas claims to have 'hard evidence' of
wrongdoing for Trump impeachment inquiry
Graham launches probe of Bidens, Burisma and
Ukraine :
The life of Hunter Biden:
How Joe Biden's middle child landed in
Trump's impeachment inquiry and a paternity scandal
of his own
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