Report: Joe Biden's Brother Benefits From Crony Capitalism
In true Arrested Development style, Vice President Joe Biden’s brother, James Biden, has received a cozy deal from Hill International, a firm that builds homes in the Middle East. James was hired as executive VP of the company in 2010. Six months later, Hill won a contract from the federal government worth some $1.5 billion to build homes in Iraq. The Iraqi government is supposed to provide the cash for the deal.
As Charles Gasparino writes in The New York Post, “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.”
So what’s his value? Gasparino explains: “James Biden’s obvious value comes from his connection to the Obama administration.”
They say that the economy starts with solid families. Joe Biden should know, apparently.