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Biden Family Financial Connections Detailed

POSTED: 11:01 AM ET, 08/28/2008 by Derek Kravitz

Democratic vice presidential candidate Joe Biden is facing some questions about his family's lobbying and financial dealings.

The Biden family's connections to SimmonsCooper, an Illinois law firm that specializes in representing asbestos victims, is detailed today in a Los Angeles Times investigation by Chuck Neubauer and Tom Hamburger.

The Times reports that the firm promised to finance a hedge fund deal for Biden's son, Hunter, and brother, James (which ultimately fell through); picked the law firm of another son, Beau, to work on dozens of asbestos cases in Delaware; and that SimmonsCoopers employees donated about $200,000 to Biden's campaign efforts since 2001, making the company his top donor.

Hunter Biden is a Washington lobbyist. Beau Biden, the attorney general of Delaware, gave an emotional introduction to his father at the Democratic Convention last night.

The Times' report follows several stories this week documenting Hunter Biden's lobbying connections and financial dealings:

-- The Post reported yesterday that as a U.S. senator, Barack Obama sought more than $3.4 million in congressional earmarks, including $192,000 for a suburban Chicago university, for Hunter Biden's clients.

-- Hunter Biden received consulting fees from MBNA Corp. over a four-year stretch to work on online banking issues, as his father helped the credit card industry push through a law that made it harder for consumers to file for bankruptcy protection, The New York Times has reported.

"Campaign officials acknowledged that the connection between the Bidens and MBNA, the enormous financial services company then based in their home state of Delaware, was one of the most sensitive issues they examined while vetting the senator for a spot on the ticket," The Times reported.

-- Hunter Biden and Joe Biden's brother, James, have been 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, The Post has reported.

By Derek Kravitz |  August 28, 2008; 11:01 AM ET
Previous: The Daily Read | Next: Measles on Rise as Parents Question Vaccine

Comments

Please email us to report offensive comments.



I am very disappointed in the choice of Biden as the VP candidate of the Democrats, given his record on issues involving debtor relief versus banking and creditor interests. Some of his record involving bankruptcy legislation is already in the news, but there are other votes he made on the side of the banking and creditor institutions, that were against the votes of his party. I would expect that his decisions are influenced greatly by the fact that he is in Deleware, a large mecca for banking and credit card companies. The Washington Post has a wonderful database of voting records on those issues, much easier to review than the Congressional site. It's not difficult to see the problems with Biden's record. One that I find really shocking is his 2007 vote against a resolution that no funds would be cut off for American troops in the field that would result in undermining their safety. The majority of both parties voted yes on that one, so why would he have a problem with it?? He has a number of those kinds of no brainer votes that go against both parties and seem completely adverse to the welfare of our troops.

Posted by: alittleskeptic | August 28, 2008 12:16 PM

Biden was a great choice for our VP position. He will take the Country forwards with Obama, will take the Country to its glorious state once more like in the days of John F. Kennedy when US was the worlds leader in all aspects of life-economic, science, prosperity.
Good luck Obama/Biden.

Posted by: Optimistic2008 | August 28, 2008 12:21 PM

I really like Joe. But it won't change my vote. I will never vote for Obama.

Joe Biden's record and credentials just make Obama look even weaker than he already is. Obama is a fool and only fool's will vote for him.

Posted by: Hillary2012 | August 28, 2008 12:24 PM

who gives an F word? seriously is the best dirt that people have on Biden, the fact that he has ties to a law firm and some credit card companies? please, practically everyone in politics has some ties to big business, what do you think the campaigns pay for themselves?

Time to grow up and face the real issues, like how Obama/Biden want us out of Iraq whereas McCain wants us to stay as long as possible.

If McCain seriously wins me and some of my friends are literally moving to Canada.

The last thing we need is four more years GOP bull****! Especially when it would be under an angry old as dirt POW.

Posted by: wow | August 28, 2008 12:24 PM

you are an idiot.

why not instead of voting for McCain you just launch all of our nukes, on ourselves!

it would be way faster and more cost effective than sitting through four years of Bush 2.0 (mccain).

I salute all you mccainites with my middle finger perched high for all to see.

Posted by: hilarry2012 is a dumbass | August 28, 2008 12:27 PM

Like father...like sons!!! What they learn at home, watching their father, is what they take into the world's marketplace.

Posted by: Angel | August 28, 2008 12:28 PM

I can't find the numbers, but I heard once that Delaware has two corporations registered for every Delaware resident. Delaware is one of the most corporate friendly states in the union and has more then half of the Fortune 500 companies registered there. If you don't like the Republicans because you think they are big business lackies, then this should worry you as a Democrat.

Posted by: Leeballz | August 28, 2008 12:47 PM

*lackeys

Posted by: Leeballz | August 28, 2008 12:48 PM

Let's face it: the reality is that corruption is rampant everywhere. The greed and the skill of the many, helped by the losing critical-investigative media role, is preventing access and disclosure about the many illicit, fraudulent and absurd plans and actions. To go upward in our societies implies the use of both, devious and unlawful, methods and manners, and governing is no difference leaving the compromises as the somewhat known temporary factors.
The arrogance of Cheney, Bush, Rove, Norquist and many others alike is unmatchable.
Let's disclose and remember the worst to make us better and manage at best.

Posted by: Giampaolo | August 28, 2008 12:53 PM

This article is boring after all the sensationalism and slander the McCain campaign has been endlessly bombarding us with via the corporate media. I guess I've become desensitized to it all. *Yawn*

Posted by: MediaWatch | August 28, 2008 3:26 PM

If John McCain wins this election and wow ( posted Aug. 28th)needs any help in moving to Canada, I'll be glad to help. My suspicion though is that like all of the Hollywoodites who promised to leave if Geo. Bush was elected, he and his friends will suck it up and just keep wining. I also wonder if wow has ever been man enough to serve in his country's military or if he is just another weanie whose mouth is big enough for another set of teeth.

Posted by: avet | August 28, 2008 5:25 PM

People with agenda will twist facts so that you will take the views they are pushing.

Research on your own, readers. Do not let those manipulate you and mold your views.

Posted by: T. Gill | August 28, 2008 9:23 PM

obama asks if we are better off today then under clinton. clinton coasted on the republican tax breaks. obama should ask are we better off under a democratic congress then 2 plus years ago under a republican congress. well democrats the answer is no thanks to you. you want to blame bush, i say look to your own leaders in congress for the problems. my house was worth double what it is now while republicans were leading. once again democrats killed that "shades of jimmy carter". now the democrats want to take my money and give it to those to lazy to earn their own. not if my vote counts.

Posted by: a.ruth | August 29, 2008 3:48 PM

Senator Biden is well financed by Law Firms and Lawyers and has always put their interests ahead of those of his constituents. His recent vote to allow more law suits against companies that try to track down terrorists really shows where his loyalties lie (H.R. 6304, FISA Amendments Act of 2008).

As a Delawarean, I can assure you that Senator Biden should not be trusted to act on anyone's behalf, save his own. He won’t even answer his mail regarding Veteran's Issues for Delaware Vets.

Posted by: BobbyDoodle | August 29, 2008 11:35 PM

Senator Biden is well financed by Law Firms and Lawyers and has always put their interests ahead of those of his constituents. His recent vote to allow more law suits against companies that try to track down terrorists really shows where his loyalties lie (H.R. 6304, FISA Amendments Act of 2008).

As a Delawarean, I can assure you that Senator Biden should not be trusted to act on anyone's behalf, save his own. He won’t even answer his mail regarding Veteran's Issues for Delaware Vets.

Posted by: BobbyDoodle | August 29, 2008 11:37 PM

Senator Biden is well financed by Law Firms and Lawyers and has always put their interests ahead of those of his constituents. His recent vote to allow more law suits against companies that try to track down terrorists really shows where his loyalties lie (H.R. 6304, FISA Amendments Act of 2008).

As a Delawarean, I can assure you that Senator Biden should not be trusted to act on anyone's behalf, save his own. He won’t even answer his mail regarding Veteran's Issues for Delaware Vets.

Posted by: BobbyDoodle | August 29, 2008 11:39 PM

Obama has become a pawn in the rivalry of Clintons and Kennedys. Biden was the favorite of Kennedys and may cost Obama his presidency. If Obama was independent and not under the influence of Kennedys, he should have put H. Clinton as his VP to icrease his chances of success.

And McCaine cleverly used the opportunity by selecting a woman as his VP and stealing the change brand from Obama. I won't be surprised if McCaine wins.

Posted by: S Magi | August 30, 2008 5:58 AM

I live very close to Joe. Trust me his home (estate)in greenville, DE is far from his humble beginnings in Scranton. Come on folks in the end the middle class will continue get screwed by both sides, regardless of who gets the most votes in november...

Posted by: Ohhum | August 30, 2008 7:12 PM

Maybe Wow can join all the sphincters that threatened to move out of the country when Bush was last elected. I didn't see any of the hollywooders that made that threat carry it out. Please pack some warm clothes since you will be heading north of the border soon.

Posted by: Nobama | August 31, 2008 5:00 PM


i like biden's style and tenacity.

if his son hunter is a crook, let the
cards
fall accordingly. i doubt it as biden was
vetted rather thoroughly and has run for
president twice (old scrutiny).

as for his record. i do not like his vote
with the banking/credit industry on bank-
ruptcy, etc. i do, however understand it.

i lived in wilmington (ghetto area) and
have learned to admire biden as a decent
person who values family and honesty.

Posted by: dino | September 1, 2008 4:20 PM

What's the real season you won't vote for Obama? Lets be real, his skin color!

You feminist / homosexual donkeys need to get over your Obama hate! He is better than John McCain for this country and Hillary won't win in 2012.

Posted by: Gaihaiter | September 1, 2008 10:03 PM

Pravitelstvo Rossii Rulit Vovka i Dimka Maladzi

Pendosbi oleni sosite chlen

Posted by: Blaxastij | September 2, 2008 12:12 AM

Всем будущим мамам и папам России!
Только для Вас - Бесплатная подписка на журнал [url=http://www.aistenok.ru/dp_send.htm]Аистенок[/url].
Подписка на 5 номеров (полгода)

Posted by: aistenoksept | September 2, 2008 9:11 AM

I don't care about Palin's daughter being pregnant or the trooper that used a taser on a 10 year old and was fired but millions of dollars missing is serious stuff.

Posted by: Shawn | September 17, 2008 8:08 PM

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