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Biden's Brother Gets BILLION dollar Federal Contract; Media Silent
Topic Started: Oct 23 2012, 03:09 PM (638 Views)
Mason
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Imagine if Dick Cheney's brother landed a Billion dollar Federal Contract!

Think the Media would have some interest?

Biden's Brother Cashes In!


http://times247.com/articles/halibiden-vp-s-brother-lands-billion-dollar-project-in-iraq

"Since November 2010, James Biden has been the executive vice president of Hill International’s housing subsidiary despite little if any documented work history in residential construction. And if the company’s projections are accurate, both Hill and Biden are on the verge of a huge payday, beneficiaries, some analysts believe, of James Biden’s connections to the Obama Administration through his older brother.  

Indeed, the Iraq project may be the most lucrative single development in Hill’s history."


Read more: http://www.foxbusiness.com/government/2012/10/22/biden-ties-eyed-in-hillstone-iraq-deal/#ixzz2A9fh49JQ

Media Silent


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Edited by Mason, Oct 23 2012, 03:13 PM.
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Mason
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Yeah, Joey is concerned about the Middle Class.

And he says we have to spend like Crazy to keep from going Bankrupt.

Who's putting whom in Chains?

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Mason
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Those Bidens are all about the Middle Class!



Biden's Son, Brother Named in Two Suits



By Kimberly Kindy and Joe Stephens
Washington Post Staff Writers
Sunday, August 24, 2008

A son and a brother of Sen. Joseph R. Biden Jr. (D-Del.) are accused in two lawsuits of defrauding a former business partner and an investor of millions of dollars in a hedge fund deal that went sour, court records show.

The Democratic vice presidential candidate's son Hunter, 38, and brother James, 59, assert instead that their former partner defrauded them by misrepresenting his experience in the hedge fund industry and recommending that they hire a lawyer with felony convictions.

The legal actions have been playing out in New York State Supreme Court since 2007, and they focus on Hunter and James Biden's involvement in Paradigm Companies LLC, a hedge fund group. Hunter Biden, a Washington lobbyist, briefly served as president of the firm.

A lawsuit filed by their former partner Anthony Lotito Jr. asserts in court papers that the deal was crafted to get Hunter Biden out of LOBBYING because his father was concerned about the impact it would have on his bid for the White House. Biden was running for the Democratic nomination at the time the suit was filed.

Hunter Biden was made president with an annual salary of $1.2 million, despite his inexperience in the hedge fund industry, the lawsuit said. Before that, he had been part of the Washington law firm Oldaker, Biden & Belair, which earned $1.76 million in lobbying revenue in the first half of 2006, according to Congressional Quarterly's CQ MoneyLine. One of its biggest clients is the National Association of Shareholder and Consumer Attorneys, a District-based group representing law firms specializing in investment and corporate law.

Hunter Biden is one of many children and relatives of prominent members of Congress who have made their careers as lobbyists. He returned to lobbying after less than a year with Paradigm.

Lotito's lawsuit alleges that James Biden called him in January 2006 to arrange a job for Hunter Biden. It says James Biden told him that his brother (Sen. Biden) "was concerned with the impact that Hunter's lobbying activities might have on his expected campaign for the 2008 Democratic presidential nomination," and, "Biden told Lotito that, in light of these concerns, his brother had asked him to seek Lotito's assistance in finding employment for Hunter in a non-lobbying capacity."

Lotito does not provide any direct evidence of the senator's involvement and offers no witnesses to the assertion.

The campaign of Sens. Barack Obama and Biden declined to comment on the case, referring questions to Nicholas Gravante Jr., a lawyer representing Hunter and James Biden. Gravante said assertions that Joseph Biden told his brother he was concerned about his son's lobbying are "absolutely false."

"This lawsuit has nothing to do with Joe Biden, and there is absolutely no truth to those allegations," Gravante said. "It is a business dispute between former partners. The suit is baseless."

Brian C. Wille, an attorney for Lotito, said the lawsuit alleges no wrongdoing by Sen. Biden, only that his concerns set in motion the business deal.

"There was a concern that Hunter Biden's role as a lobbyist would have an impact on the senator's proposed presidential run," Wille said. "That's what James Biden told Mr. Lotito. . . . Was it true? Who knows? There is no allegation the senator was involved in any of these events."

In an affidavit, Hunter Biden said his father had nothing to do with the deal and that it is Lotito who swindled the Bidens.

He said Lotito lied about being a "fully licensed and accredited securities professional" with hedge fund experience.

In addition, he said Lotito recommended a lawyer to vet the business deal who was under investigation and was ultimately convicted on several felony charges of conspiracy and wire and mail fraud in a scheme to steal millions from a computer company.

In the hedge fund business deal, Lotito and the Bidens created a company called LLB Holdings USA and together agreed to pay $21.3 million for 54 percent interest in Paradigm.

In the lawsuit, Lotito said that soon after creating LLB, the Bidens crafted a "secret deal" to create their own company that was designed to buy out his shares in Paradigm for a low rate, to which he agreed. He said he knew nothing of the secret deal until later and now believes he was defrauded out of millions of dollars and his share in the company.

In the second lawsuit against the Bidens, which was filed in June, Lotito is also named as a defendant. Stephane Farouze, now an executive with Deutsche Bank, seeks $10 million, saying the Bidens and Lotito promised to buy his shares in the hedge fund company but reneged.

http://www.washingtonpost.com/wp-dyn/content/article/2008/08/23/AR2008082302200.html



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Edited by Mason, Oct 23 2012, 03:25 PM.
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LTC8K6
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Assistant to The Devil Himself
Housing in Iraq?

That's bound to be a money loser...

Not the Bidens, of course...
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Mason
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Why isn't the country told about the REAL BIDENS?

Every one getting Fat and Rich off the Government.

Quite a contrast to his Middle Class warrior crap.


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Mason
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The Biden's were sued - they settled before a ruling - and one of the conditions is that they admit no wrongdoing.


Notice in both of these stories, the Biden men have little experience but are pulling down Millions (or Billions).

How is it the narrative is not about Fat-Cat Bidens getting breaks and deals at every turn - but that he's some middle class champion?

Only Dems in Washington!

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kbp

Somebody check my notes and math.

I read they have contracted construction of

100,000 residential units

in a contract for

$1.5 billion

so that equals, subject to my counting zeroes correctly

$15,000,000.00 per unit

in part of a larger contract that is 500,000 units for $35 billion


ADD: As I read it, the funds come from Iraq
Edited by kbp, Oct 23 2012, 05:14 PM.
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Mason
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$22 Million to Biden earlier this month for the construction of State Dept offices.

I think this is how it works - they get big Check from U.S. in Foreign Aid, they turn around and write a big, Fat check to Biden's company - and the billions are flowing.

"Affordable Housing" is a U.S. term - and the foreign aid is dependent upon so much being spent in certain areas.

This is pure Washington back rubbing - and everyone goes home Rich.


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Edited by Mason, Oct 23 2012, 04:42 PM.
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foxglove

Friends, relatives and campaign donors become rich and the taxpayer foots the bill and becomes poorer.

Cronynism helped to get a job for Congressman Larson's wife?

http://www.courant.com/news/opinion/hc-op-rennie-congressman-larsons-wife-gets-job-101-20121018,0,493839.column?obref=obnetwork

'...John Larson's campaign website says he wants "an economy that gives all Americans a chance." Not, however, the same chance. He says we "need to think creatively about how jobs are created." For now, it seems, the old-fashioned way of favors and friends will serve just fine.

At CI it looks like it's better to "love Claire" and be connected than it is to possess the most qualifications."
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chatham
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kbp
Oct 23 2012, 04:25 PM
Somebody check my notes and math.

I read they have contracted construction of

100,000 residential units

in a contract for

$1.5 billion

so that equals, subject to my counting zeroes correctly

$15,000,000.00 per unit

in part of a larger contract that is 500,000 units for $35 billion


ADD: As I read it, the funds come from Iraq
Its actually closer to 15 000 per unit. But still that is a lot of money per unit. Cost are no where close to that number for building crap the way they will do. Developing American relations at its finest. They will probably fall apart before they are completed.

Joe Biden said he wanted the VP position because it was an easier job. Sure is. Easier to make lots of money. Easier to get some nice jobs for your family that knows nothing about how to do those jobs. Easier to rip off the people. No wonder joe was laughing so much during the debate.
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kbp

chatham
Oct 24 2012, 08:19 AM
kbp
Oct 23 2012, 04:25 PM
Somebody check my notes and math.

I read they have contracted construction of

100,000 residential units

in a contract for

$1.5 billion

so that equals, subject to my counting zeroes correctly

$15,000,000.00 per unit

in part of a larger contract that is 500,000 units for $35 billion


ADD: As I read it, the funds come from Iraq
Its actually closer to 15 000 per unit. But still that is a lot of money per unit. Cost are no where close to that number for building crap the way they will do. Developing American relations at its finest. They will probably fall apart before they are completed.

Joe Biden said he wanted the VP position because it was an easier job. Sure is. Easier to make lots of money. Easier to get some nice jobs for your family that knows nothing about how to do those jobs. Easier to rip off the people. No wonder joe was laughing so much during the debate.
LOL!

I had added three too many digits in a math equation previously here, which LTC pointed out!

I need to quit doing math in my head when there are so many digits (most zeroes!), for the old calculator in my the head evidently overloads! Truth is, starting with the "100,000 units" was a pretty simple number to use, deduct 5 zeroes off each number ...and I still got it wrong!
Edited by kbp, Oct 24 2012, 08:52 AM.
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chatham
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Well, either way, someone is making a load of dough on this.
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Mason
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Where is the fairness in the Biden's lack of experience, yet Billion dollar deals?

It's takes about a year to count to a Million, takes about 33 years to count to a Billion.

The media goes along with the charade.

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Edited by Mason, Oct 24 2012, 09:54 AM.
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kbp

Mason
Oct 24 2012, 09:54 AM
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Where is the fairness in the Biden's lack of experience, yet Billion dollar deals?

It's takes about a year to count to a Million, takes about 33 years to count to a Billion.

The media goes along with the charade.

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"You didn't get there on your own. I'm always struck by people who think, "Well, it must be because I was just so smart!""
Obama - 7/13/12

So that's what he meant!
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Mason
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kbp
Oct 24 2012, 10:08 AM
Mason
Oct 24 2012, 09:54 AM
.
Where is the fairness in the Biden's lack of experience, yet Billion dollar deals?

It's takes about a year to count to a Million, takes about 33 years to count to a Billion.

The media goes along with the charade.

.
"You didn't get there on your own. I'm always struck by people who think, "Well, it must be because I was just so smart!""
Obama - 7/13/12

So that's what he meant!
:roflmao: :roflmao: :roflmao:


Excellent!

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