Sunday, August 24, 2008

Did I Forget To Mention That He's The Senator From MBNA?

clipped from pajamasmedia.com

It is unfortunate that if you were an underdog and looking for help from Senator Biden in getting out from under a load of debt by filing bankruptcy, you were given the back of his hand. It seems one of Senator Joe’s major contributors through the years was the bank holding company MBNA, the world’s largest issuer of credit cards who was pushing bankruptcy reform that would have been favorable to the credit card industry. Biden was one of the bill’s biggest proponents — and why not? MBNA executives contributed hundreds of thousands to his campaigns. And then there was the rather cozy personal relationship between Biden and MBNA executives:

The relationship was also personal, with an MBNA executive’s buying Biden’s house at a favorable price, and one of his sons taking a job for a time as an MBNA management trainee, as the Wilmington News-Journal reported. Hey, it’s a small state.