New Name in the Biden Family Corruption Saga: James Biden (Joe's Brother)

New Name in the Biden Family Corruption Saga: James Biden (Joe's Brother)
4 Comments

James Biden isn’t a big name in the business of residential housing development, so what exactly qualifies him to work at a construction company and share in the winnings of a $1.5 billion project to build affordable homes in Iraq?

If you said it has something to do with his last name, the one shared by his older brother Vice President Joe Biden, you wouldn’t be far off.

At least that’s the guess of some Wall Street analysts who cover the Marlton, NJ-based company Hill International and think they’ve seen yet another sordid tale of crony capitalism.

Hill has been around for decades; its main business is managing construction projects in the Middle East and here in America. It’s built a good reputation over the years, as has the father-son team who run it, Irv and David Richter.

But the bursting of the real-estate bubble took its toll; Hill shares dropped 80 percent after 2008. In 2011, the company still reported losses. Its Middle East business was also stymied by the Arab Spring uprisings; in Libya alone, Hill was out $60 million in payments that it was trying to recover.

But it got some good news not long after its housing subsidiary hired James Biden as an executive vice president in late 2010. Just six months later, Hill won one of its biggest contracts ever, a $1.5 billion deal to build at least 100,000 affordable homes in Iraq.

A good deal for Hill, a relative newcomer to building homes — and for James Biden, who as one partner would get a good share of that $1.5 billion.

The deal in 2012 was contingent on the Iraqi government providing financing, but Hill execs told analysts the money could start flowing by the end of that year. That’s when everyone involved, James Biden included, would start collecting on tens of millions of dollars in profits.

One friend of James Biden’s estimates his net worth at around $7 million, yet he seems to have a remarkable lack of concrete business experience. An attorney who’s done work for him called him a “serial entrepreneur,” but didn’t name the startups he was responsible for.

Hill chief Irv Richter called Biden a “good salesman” and the firm’s Web site described “40 years of experience dealing with principals in business, political, legal and financial circles across the nation and internationally.”

(James Biden also had a relatively short and somewhat controversial run as a co-owner of a hedge-fund company with Joe’s son Hunter. The company, as it turns out, was marketed by companies controlled by now convicted Ponzi schemer Allen Stanford. Neither Biden was charged, but the fund company is now winding down its operations.)

No, James Biden’s obvious value came from his connection to the Obama administration. Richter assures media at the time that James’ ties to Joe played no part in landing the plum assignment in Iraq or any of the other government-related jobs Hill had received recently.

Really? Connect these dots: Both the Iraqi government and the Obama State Department played roles in helping Hill win the assignment, Richter concedes. And Joe Biden was President Obama’s point man on Iraq — a country where people expect politicians’ families to be “taken care of.”

Also key is TRAC Development, a South Korean firm that won the master contract for the Iraq work. And — huh! — James Biden and his wife were guests of President Obama and Michelle for last a state dinner honoring the then-president of South Korea, Lee Myung-bak.

All one big coincidence?

Well, Richter insisted that, while Biden’s name and connections might open doors when government business is on the line, that doesn’t guarantee success. “If he had the name Obama, he would get in the door easier,” Richter joked.

During a 2012 vice-presidential debate, Joe Biden told Americans to just ignore all that stimulus money that went to administration-connected failures like Solyndra. Crony capitalism, he insisted, hardly exists with Joe Biden and Barack Obama watching the store.

Maybe that’s why the veep, after making that statement, was laughing so much that night.

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  • This commment is unpublished.
    Thomas N. Kuss II · 9 days ago
    Folks the Communist Socialist Democratic Party with their Deep State Henchmen Intend to implement by Force, “Their ‘Will (Communism)’ on The United States of America.” This requires by Necessity the Disarming of All American Citizens, so that “None of Them (American Citizens) can Uphold The U.S. Constitution” via The Second Amendment (Right to Bear Arms) Created by Our Founding Forefathers to Stop with Arms, “Those (Communism by Democratic Party) whom would Destroy the U.S. Constitution, Bill of Rights, and Declaration of Independence.” “Currently the Company (CIA) Controls the Multi News Media via The Mocking Bird Operation,” which “Feeds a Constant Stream of Manufactured Propaganda.” A Fraudulent Mock Impeachment of President Trump is Underway, “Based Solely on a Pack of Lies, Innuendo, False (Non) Witnesses, Hidden Gestapo Tactics, and Never Ending Propaganda.” This Situation is Mounting Tensions Up to the Heavens as America Divides into 2 Warring Factions (Left & Right) Ready to Rip Our Country Apart in Civil Strife. “All Based on Falsehoods in Accordance with The Communist Manifesto Play Book (discovered in 1945) being Fostered by The Obama Administration to Overthrow The United States Federal Government (President Trump Administration).” Thus Our Country is on the Verge of Civil War… Hence, “There is a Man who is Possibly the Only Person who can Save America.” What is his name? “John Durham!” What does he do for a Living? He is a U.S. Attorney working under Attorney General Bill Barr (Former CIA & 322). His importance at this time in American History cannot be overstated. Why? “U.S. Attorney John Durham has been and is Currently Conducting a Criminal Investigation into the Coup D’etat underway in Congress with the Deep State,” as well, “All Other Treason, Insurrection, Sedition, and Tyranny against The United States of America.” Once U.S. Attorney Durham Exposes All of the Misdeeds Done unto the American Citizens and United States of America, “Hope, Faith, and Trust shall be Restored to All Citizenry.” The Washington DC Pimp Sease Pool of Total Criminal Corruption shall be Eliminated. “A Fair Honest Government Base upon Our U.S. Constitution, Bill of Rights, and Declaration of Independence shall once again Ensue with a Country in Unity.” called, “The United States of America.”
  • This commment is unpublished.
    Thomas N. Kuss II · 14 days ago
    Folks it’s “Impossible to find Real News on TV & Radio that is Totally Saturated with Outright Lies, Deception, and Propaganda.” This happened under “The Obama (The Anti Christ – whom shall come back to Power May 19, 2021 – CIA Project) Administration,” whom (with Congress) “Fostered Propaganda to be Included in The 2013 National Defense Authorization Act.” Understand, “Obama Acting for the Company (CIA),” as Their (CIA) Manchurian Candidate, “had to Effect this Action to Open the Door, using the Company (CIA) Mocking Bird Operation (Control of the Multi News Media) to Harbor a Future Coup D’etat (Currently Happening Against The *President Trump Administration) in the Event The Company (CIA) LOST CONTROL OF THE PRESIDENCY (WHITE HOUSE).” Note for example, when CNN uses their constant flow of Lies, Deception, and Propaganda, “THIS USE TO BE AGAINST THE LAW (FELONY).” (Study under U.S. Code Title 18, Chapter 47, @1031 Major Fraud Against the United States @ 1038 False Information and Hoaxes)
  • This commment is unpublished.
    His self · 15 days ago
    Their dad was a used car salesman, so what would you expect?
  • This commment is unpublished.
    Donald Foreman · 16 days ago
    The Godfather Movie