Credit Card Joe: Helping It All To “Slip Away”

Well looky here. We have a genuine The Real Joe Biden site all fresh and clean….and articulate….and all ready to show you how “his heart and values are firmly rooted in the middle class“.

Speaking of “change,” Joe is the guy who pushed really hard over that bankruptcy reform that keeps poor bankrupt bastards on the hook for life to their creditors, unless they are millionaires. How’s that for, to use Joe’s own words today, “your dream slipping away”? Now why would sweet, lovable “my kitchen table is like your kitchen table” Joe be so hepped up about that? Let’s just call it change you can REALLY believe happened.

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Well it seems that around some parts, Joe is called “Credit Card Joe,”  since he is in the pocket of Delaware’s major credit card company, MBNA.

In today’s repost of an article he wrote for American Spectator in 1998, Byron York provides a detailed profile of Joe Biden, “The Senator from MBNA,” the “giant credit-card company based in his home state” of Delaware that was bought up by Bank of America in 2006.

Be sure to read York’s article, but to be brief, as described by NNDB.com, Biden’s record in regards to credit card company MBNA is enlightening, to say the least:

Over his long career in politics, Biden’s biggest financial supporter has been the giant credit card company MBNA, which was also one of George W. Bush’s biggest donors in 2000 and 2004. His son, Hunter Biden, was hired as a management trainee at MBNA straight out of law school, and was quickly promoted to executive vice president. The younger Biden has since left MBNA to establish his own lawyer-and-lobbying firm, but still receives a $100,000 per year consulting fee from the bank, which has since been swallowed by Bank of America. In 2006, Hunter Biden was appointed by President Bush to a five-year term on the Amtrak Reform Board.

OpenSecrets reports for campaign years 1998 through 2004 alone, MBNA was indeed Biden’s top contributor—$214,050. In 2006, MBNA contributed contributed $80,625; in this campaign cycle, for 2008, Bank of America has contributed $58,000 and MBNA Corp, $56,625. More on Biden’s lobbyist cash here.

As is just about everyone else in internetdom, OpenSecrets posted its own article today about “The Money Behind Joe Biden. ”

Then, on the little matter of the proposed bankruptcy bill—for which, by the way, Joe Biden has consistently voted in favor—on March 10, 2005, Obama cheerleader Arianna Huffington wrote an opinion piece at Salon:

So what does the bill do? It makes it harder for average people to file for bankruptcy protection; it makes it easier for landlords to evict a bankrupt tenant; it endangers child-support payments by giving a wider array of creditors a shot at post-bankruptcy income; it allows millionaires to shield an unlimited amount of equity in homes and asset-protection trusts; it makes it more difficult for small businesses to reorganize while opening new loopholes for the Enrons of the world; it allows creditors to provide misleading information; and it does nothing to rein in lending abuses….

Joe Biden gave a great speech the other day, but the truth is Joe was front and center helping to ensure that one of the most Anti-Middle-Class pieces of legislation in history got passed. So much for his “kitchen table” being just like yours. And so much for his concern that things are “slipping away” from the middle class.

But MBNA certainly is thrilled.