Biden Linked To Latest Multi-Billion Dollar Dem Fraudster

Don't expect more than a whiff of this to hit the mainstream media (if even that), but it's a big deal.  Excerpts from Debbie Schlussel:

[I]t should be headline news that a fund operated by Joe Biden's son, Hunter, and his brother, James, had millions of dollars worth of dealings with Stanford Financial Group and another Stanford-controlled entity. In fact, Stanford entities provided the Bidens the seed money for their business and invested millions in and brought many clients (and their money) to the Bidens' company.

A fund of hedge funds run by two members of Vice President Joe Biden's family was marketed exclusively by companies controlled by Texas financier R. Allen Stanford, who is facing Securities and Exchange Commission accusations of engaging in an $8 billion fraud.

The $50 million fund was jointly branded between the Bidens' Paradigm Global Advisors LLC and a Stanford Financial Group entity and was known as the Paradigm Stanford Capital Management Core Alternative Fund. Stanford-related companies marketed the fund to investors and also invested about $2.7 million of their own money in the fund, according to a lawyer for Paradigm. Paradigm Global Advisors is owned through a holding company by the vice president's son, Hunter, and Joe Biden's brother, James.

A Paradigm marketer, Jeffrey Schneider, confirmed accounts provided by others that he brought in the Stanford business. Stanford would bring clients to the fund and Paradigm would manage it, according to Mr. LoPresti. The fund is mentioned on the Web site of a Stanford entity called Stanford Trust Co. as one of its "investment management strategies."

Mr. LoPresti said Stanford entities put up the $2.7 million in seed money and marketed the fund. SEC records show the fund, which was launched in June 2007, had 104 investors as of Nov. 10, 2008, with assets of $49.8 million. Paradigm Global, of New York, manages portfolios of hedge funds with a total of about $270 million in assets.

The Bidens' 2006 purchase of Paradigm has sparked litigation. In December, James and Hunter Biden settled a lawsuit brought in New York state court by a onetime business partner, Anthony Lotito Jr. Mr. Lotito alleged the Bidens owed him money from the Paradigm purchase. In court filings, he also contended that James Biden asked him to help Hunter Biden, who had been a Washington lobbyist, get into the hedge-fund business. Mr. Lotito alleged that Joe Biden was concerned about the impact his son's lobbying could have on his planned 2008 run for the Democratic presidential nomination. Mr. Biden did run for president but dropped out of the race.

Schlussel raises the first obvious question:

The son and bro of a then-Senator and now-Veep don't just get millions to invest "just 'cuz," especially when the two have zero experience (Hunter Biden was a lobbyist) in the finance arena. It usually has to do with that guy--the Senator/now-Veep, himself.

So, what was Joe Biden's role in all of this?

I would add the second obvious question: what does Biden owe those investors now?

This is the problem that we have with the Obamessiah's entire administration.  They raised half a billion dollars during the campaign, fully half of it through fraud and anonymous (i.e. untraceable) donations.  Although that process is something of the nature of American politics, this was a gross abuse of the system.  The ramifications of that abuse, unfortunately, are completely hidden until the payback takes place, so the American people don't have any idea who holds influence over our President.

The same apparently holds true over our Vice President now, too.

Not a great situation for a country to be in, and certainly not a great fulfillment of all the campaign promises of transparency.

There's my two cents.