Sunday, June 19, 2005

Majority Report Radio: hour one - Wednesday (Reference to MBNA)

Majority Report Radio: hour one - Wednesday: "Biden's been carrying MBNA's water on this issue for years. In 2000, when the plan was effectively stalled because a real Democrat named Bill Clinton was in the White House, he even tried to attach the bankruptcy changes to a foreign aid bill. Why is Biden such a big fan. Those less cynical than us might argue that, well, MBNA does employ a lot of people in Delaware. True -- but could it also be because MBNA is Biden's biggest contributor -- by a good margin. According to Opensecrets.org, Biden raised some $147,700 in contributions from MBNA employees from 1999-2004, his biggest source of campaign cash.
Who is that in second? A law firm named Pachulski Stang Ziehl Young Jones & Weintraub, which gave $127,625 over the same period. And who are they, might one ask? Pachulski Stang is the nation's largest bankruptcy law firm with one of the most highly regarded bankrupty practices in the country. The firm's client list includes some of the biggest names in the entertainment industry as well as many of the most well-known businesses in the world.
The company also has ties to Senator Biden's son, R. Hunter Biden, a lawyer in Washington. Hunter Biden joined MBNA as a management trainee after graduating from Yale Law School and rose to be an executive vice president. Now a partner in Oldaker, Biden & Belair, a lobbying and law firm, he receives a $100,000 annual retainer from MBNA to advise it on 'the Internet and privacy law,' Mr. Freeh said. He added that Hunter Biden was not a registered lobbyist and did not lobby on legislation for the company. "

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