The ink has hardly dried on the newsprint announcing Joe Biden as Barack Obama’s vice-presidential pick, when the New York Times today runs a story raising serious questions involving Biden, his lawyer son and the MBNA Corporation, which was bought by Bank of America two years ago.
According to the paper, while Sen. Biden was bucking fellow Democrats and joining rival Republicans in a successful effort to change the bankruptcy laws so that they would be more favorable to the banking industry and less so for consumers, Biden’s son was being paid some $100 thousand a year to consult with MBNA, which happened to also be one of the driving forces behind changing the rules for the credit card industry.
Says the paper : “…Mr. Biden’s (Senator) Democratic colleagues often voiced their frustration with the big financial interests arrayed against them. Senator Paul Wellstone specifically cited MBNA during a floor debate in March 2001 over his call for stronger protections for debtors forced into bankruptcy because of medical bills–an amendment that Mr. Biden would later vote against.”
Is this the sort of “change” Barack Obama has been talking about???
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