Biden Inc. Over Decades In Office Middle-Class Joes Fortunes Have Closely Tracked His Career

(Politico) BEN SCHRECKINGER August 02 2019 The day the Bidens took over Paradigm Global Advisors was a memorable one. In the late summer of 2006 Joe Bidens son Hunter and Joes younger brother James purchased the firm. On their first day on the job they showed up with Joes other son Beau and two large men and ordered the hedge funds chief of compliance to fire its president according to a Paradigm executive who was present. After the firing the two large men escorted the funds president out of the firms midtown Manhattan office and James Biden laid out his vision for the funds future. Dont worry about investors" he said according to the executive who spoke on the condition of anonymity citing fear of retaliation. Weve got people all around the world who want to invest in Joe Biden." At the time the senator was just months away from both assuming the chairmanship of the Senate Foreign Relations Committee and launching his second presidential bid. According to the executive James Biden made it clear he viewed the fund as a way to take money from rich foreigners who could not legally give money to his older brother or his campaign account. Weve got investors lined up in a line of 747s filled with cash ready to invest in this company" the executive remembers James Biden saying. At this the executive recalled Beau Biden who was then running for attorney general of Delaware turned bright red. He told his uncle This can never leave this room and if you ever say it again I will have nothing to do with this." A spokesman for James and Hunter Biden said no such episode ever occurred. Beau Biden died in 2015 at 46. But the recollection of an effort to cash in on Joes political ties is consistent with other accounts provided by other former executives at the fund.