Hunter Biden-linked companies took millions in bailout loans, taxpayer fundsTech company, TALF loans leave trail of taxpayer funding.
By Daniel Payne
Updated: October 22, 2020 - 11:40pm
.... Tens of millions in securities loans went to Biden-linked firm
Renewed interest in the Bidens' financial arrangements has shined new light on Hunter Biden's past involvement with millions of dollars in federal funds.
Rosemont Seneca Partners, an investment firm founded by Hunter along with business partners Devon Archer and Christopher Heinz, the stepson of former Secretary of State Jon Kerry, oversaw tens of millions of federal security loans in 2009 when Archer and Heinz founded Rosemont TALF, a spinoff firm designed to handle funds from the Federal Reserve's Term Asset-Backed Securities Loan Facility program.
That program, announced in late 2008 in the depths of the financial crisis, was meant to jumpstart consumer spending amid the cratering economy. Like other firms participating in the initiative, Rosemont TALF was issued securities in order to help facilitate increased consumer credit and by extension consumer spending during the worst of the recession.
Data from the Federal Reserve indicate that Rosemont TALF ultimately obtained around $130 million in loans from that institution. Officials with the Federal Reserve told Just the News that the program itself was dissolved in 2014 and that all loans associated with it had been repaid in full by that time. ...
Full story at Just The News
