Washington Babylon — August 25, 2008, 9:00 am

Credibility Crunch: Biden’s son worked for credit card company that pushed bankruptcy “reform” bill

From the New York Times:

During the years that Senator Joseph R. Biden Jr. was helping the credit card industry win passage of a law making it harder for consumers to file for bankruptcy protection, his son had a consulting agreement that lasted five years with one of the largest companies pushing for the changes, aides to Senator Barack Obama’s presidential campaign acknowledged Sunday.

Mr. Biden’s son, Hunter, received consulting fees from the MBNA Corporation from 2001 to 2005 for work on online banking issues. Aides to Mr. Obama, who chose Mr. Biden as his vice-presidential running mate on Saturday, would not say how much the younger Mr. Biden, who works as both a lawyer and lobbyist in Washington, had received, though a company official had once described him as having a $100,000 a year retainer. But Obama aides said he had never lobbied for MBNA and that there was nothing improper about the payments.

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. Mr. Biden’s support for the bankruptcy changes, which were signed into law in 2005, puts him at odds with Mr. Obama of Illinois, who opposed the bill and has criticized the presumptive Republican nominee, Senator John McCain of Arizona, for supporting it. Consumer advocates and other Democratic allies remain sharply critical of Mr. Biden’s actions, saying in recent days that they could hamper the campaign’s efforts to attack the Republicans over their handling of the nation’s credit crisis.

Share
Single Page

More from Ken Silverstein:

From the November 2013 issue

Dirty South

The foul legacy of Louisiana oil

Perspective October 23, 2013, 8:00 am

On Brining and Dining

How pro-oil Louisiana politicians have shaped American environmental policy

Postcard October 16, 2013, 8:00 am

The Most Cajun Place on Earth

A trip to one of the properties at issue in Louisiana’s oil-pollution lawsuits 

Get access to 164 years of
Harper’s for only $39.99

United States Canada

CATEGORIES

THE CURRENT ISSUE

November 2014

Stop Hillary!

= Subscribers only.
Sign in here.
Subscribe here.

How the Islamic State was Won

= Subscribers only.
Sign in here.
Subscribe here.

Cage Wars

= Subscribers only.
Sign in here.
Subscribe here.

Everyday Grace

= Subscribers only.
Sign in here.
Subscribe here.

view Table Content

FEATURED ON HARPERS.ORG

Article
Stop Hillary!·

= Subscribers only.
Sign in here.
Subscribe here.

"What Hillary will deliver, then, is more of the same. And that shouldn’t surprise us."
Photograph by Joe Raedle
Article
Cage Wars·

= Subscribers only.
Sign in here.
Subscribe here.

"In the 1970s, “Chickens’ Lib” was a handful of women in flower-print dresses holding signs, but in the past decade farm hens have become almost a national preoccupation."
Photograph by Adam Dickerson/Big Dutchman USA, courtesy Vande Bunte Farms
Article
Paradise Lost·

= Subscribers only.
Sign in here.
Subscribe here.

"Suffering Sappho! Here we still are, marching right into yet another century with our glass ceilings, unequal pay, unresolved work and child-care balance, and still marrying, forever marrying, men."
Illustration by Anthony Lister
Article
Off the Land·

= Subscribers only.
Sign in here.
Subscribe here.

"Nearly half the reservation lives below the poverty line, with unemployment as high as 60 percent, little to no infrastructure, few entitlements, a safety net that never was, no industry to speak of, and a housing crisis that has been dire not for five years but since the reservation’s founding in 1855."
Illustration by Stan Fellows
Post
Introducing the November 2014 Issue·

= Subscribers only.
Sign in here.
Subscribe here.

Doug Henwood on stopping Hillary Clinton, fighters and potential recruits discuss the rise of the Islamic State, the inevitability of factory farming, and more

Cover photo by Reuters/Jonathan Ernst

Chances that a doctor’s diagnosis of Lyme disease is erroneous:

4 in 5

Engineers were said to be at greater risk of becoming terrorists.

A deaf dog belonging to a deaf owner was shot and killed in Alabama, and an Indiana dog’s skin troubles were found to be caused by an allergy to humans. “It’s just not his fault,” said the owner of Lucky Dog Retreat.

Subscribe to the Weekly Review newsletter. Don’t worry, we won’t sell your email address!

HARPER’S FINEST

In Praise of Idleness

By

I hope that after reading the following pages the leaders of the Y. M. C. A. will start a campaign to induce good young men to do nothing. If so, I shall not have lived in vain.

Subscribe Today