Stanford Had Links to Fund Run by Bidens: Report

[galileoreloaded]

Source: CNBC/Reuters

A fund of hedge funds run by two members of U.S. Vice President Joe Biden's family was marketed exclusively by firms controlled by Texas financier Allen Stanford, charged by regulators with an $8 billion fraud, the Wall Street Journal said.


The $50 million fund was jointly branded between the Bidens' Paradigm Global Advisors and a Stanford Financial Group entity, and was known as the Paradigm Stanford Capital Management Core Alternative Fund, the paper said.

Read more: http://www.cnbc.com/id/29361767

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Goodness gracious, how do I get myself one of those Hedge Funds??

[Sensitivity]

1. Still not clear WHAT ILLEGALITIES Stanford was engaged in. His MO is BAU in Caribbean

Numerous regional financial institutions offer high interest rates for U.S. currency accounts in just the same manner that Stanford is being accused of.

[shraby]

2. This is from farther down in the article..the headline

is misleading.
(snip)
Stanford-related companies marketed the fund to investors and also invested about $2.7 million of their own money in the fund, the paper said, citing a lawyer for Paradigm.

Paradigm Global Advisors is owned through a holding company by the vice president's son, Hunter, and Joe Biden's brother, James, according to the paper.

Paradigm's attorney, Marc LoPresti, who represents Hunter Biden and James Biden, as well as Paradigm, told the paper he did not know which Stanford entity invested the roughly $2.7 million. He told the paper the Bidens never met or communicated with Stanford.

[denverbill]

3. If anything, it sounds like the Bidens were victims of him as well.

You wouldn't know that from the headline though, would you?

[Baby Snooks]

5. Victims?

It is really hard to view the Bidens as victims given they represent a family that has supported terrorism.

When the bin Laden family was put on the plane in Boston, the night of 9/11 according to the late Pierre Salinger, two of the sons-in-law were on the plane. Both had been convicted of terroristic activity in Jordan.

But the Biden sons are making millions by representing the bin Laden family and Biden is a "good" Democrat so we will look the other way.

We must all continue to be good Germans.

[karynnj]

6. Do you have a link to the Bidens representing the Bin Laden family post 2001

I find it VERY HARD to believe because it would have been used by the Republicans - and it wasn't.

[Baby Snooks]

8. The magic of the internent media...

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aeiG5arWAV98

Apparently Bloomberg did some editing when it updated the story. As did the papers which ran the story earlier this morning in their online editions. Presto, chango, and hope Google didn't cache it. Which in this case it didn't.

Reuters did the same thing to many of Pierre Salinger's stories. Particularly the ones about the bin Ladens.

[denverbill]

7. I really don't see how that relates to this particular story.

#1) Whether or not Biden's relatives support terrorism has nothing to do with whether or not they were victimized by this guy. bin Laden himself could have lost money to this hedge fund swindler. Just because he's a victim in one case doesn't excuse the other, or vice versa.
#2) AFAIK, Bidon's sons didn't have anything to do with getting anyone on a plane after 9-11. That was all initiated and approved by Bush appointees.
#3) Lawyers have represented some of the shittiest people in the world, from Jeffrey Dahmer to Adolph Eichman to John Wayne Gacy. Representing them doesn't necessarily mean you like them or support their causes or that you know every detail of the lives of their extended family.

I don't particularly care for the bin Laden family any more than I care for the House of Saud, or the Bush royal family or the Coors family, but as a computer programmer, if any of them offered me $1 million to write them a program I'd probably do it.

[No Elephants]

4. Were the Bidens running the SEC?

[EFerrari]

9. Attempt to spin this on Democrats. The guy had hundreds of clients. n/t