Hunter Biden’s Company Got $130 Million in Bailout Funds

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 … Read More ➡

May America Live Long and PROSPER: Reining in Student Debt

The federal government is currently on the hook for over $1.35 trillion in higher education loans, over half of which has accumulated since 2009. A number of Capitol Hill lawmakers have come up with legislation to reduce public exposure in the event of a calamity: the Promoting Real Opportunity, Success and Prosperity through Education Reform Act, or PROSPER. The House Education and the Workforce Committee approved the bill in mid-December in a 23-17 party-line vote; the Senate now is taking up its own measure. The context underscores the unsoundness of the Obama-inspired higher education overhaul of 2010 that has played no small role in bringing about this situation.

Taking on debt to attend college or graduate school is a way of life. According to a quarterly Federal Reserve Board data base, fully 42.6 million U.S. adults by the close of 2017 owed an outstanding $1,366.9 trillion in federal student loan … Read More ➡