Last Updated on December 19, 2019
Hunter Biden, a known crack addict and son to former Vice President, Joe Biden, may be involved in an even bigger scandal than the events that lead to the presidential inquiry into the history of corruption between Biden and the Ukraine.
When Hunter Biden graduated from law school, he accepted what Tucker Carlson calls a “lucrative management job” with MBNA, a Delaware based credit card company.
After having worked for MBNA for almost three years, Hunter Biden left the company.
Despite the fact that Hunter stopped any work, he still collected more that $100,000 per year from 2001 -2005 for doing very little, if anything at all.
WATCH! While Hunter Biden was being paid $100K a year by a credit card company, Joe Biden was "carrying water" for that same company in the Senate while working on legislation.
They even called him "The Senator from MBNA."
Coincidence? What was Hunter being paid for? pic.twitter.com/HM7mDkZvRO
— Trump War Room (@TrumpWarRoom) December 19, 2019
“Well it’s not easy to get a job like that,” Tucker Carlson remarks on Fox News. “It helps to have a father in the US Senate. One who’s doing the bidding of credit card companies, and Hunter Biden definitely met that requirement,” Carlson continued.
Biden was in the US Senate at the time and, according to Carlson, was for decades an enthusiastic servant of the consumer debt industry to the point where he was titled “the Senator from MBNA.”
According to Carlson, in the 1990s, when the cost of healthcare and education shot up, many people in the middle class sought to rectify this by agreeing to high interest debt loans just to get by.
What was seen as a potential for making a lot of money was also feared to be lost to those who would get out of payments by declaring bankruptcy, leading banks to ask Congress for protection.
Banks turned to Congress with the request that they receive aid making the process of claiming bankruptcy more difficult to those with these high-interest loans.
Biden was a major advocate for these laws that were extremely destructive and fiscally crippling to the middle class.
The resulting law was called the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, and as Carlson would claim, the phrasing of the title is misleading, or even flat out falsified.
“There was no epidemic of bankruptcy abuse in America at the time. The bill did nothing meaningful to protect consumers. No – instead the beneficiaries of the law were credit card companies, and that’s why they spent $100 million to get it through the congress.”
Carlson continues, “before the bill was passed judges in this country determined whether a bankruptcy filing was abusive and should be dismissed, but thanks to lobbying from high interest lenders, the standard was changed to a ridged means test of a filers income.”
As a result of the law, filing for bankruptcy became much harder, and subsequently took much longer than ever before.