Category: Banking/Financial

Why Are Banks And Retailers Closing Thousands of Branches?

VIDEO PLAYS ON YOUTUBE ONLY

SEE: https://www.youtube.com/watch?v=PuFUufLjKFM

Why Are Banks and Retailers Closing Thousands of Branches? In today's rapidly changing economic landscape, the impact of various factors such as inflation, bank closures, and business shutdowns cannot be overstated. The economy is facing unprecedented challenges, with repercussions that extend far beyond the financial sector. As bank closures and retailers shutter thousands of stores, questions about the future of our money and the stability of our businesses loom large. The year 2024 has brought with it a wave of uncertainty, with headlines dominated by news of bank crises and business collapses. The implications of these developments ripple through every aspect of our lives, from the way we manage our finances to the prices we pay for everyday goods. It's a stark reminder of the interconnectedness of the global economy and the fragility of our financial systems. Amidst this backdrop of turmoil, discussions about the root causes of these challenges are paramount. Inflation has emerged as a key driver, eroding the purchasing power of consumers and placing strain on businesses already grappling with rising costs. The cost of living crisis is no longer a distant concern but a harsh reality for many households. The domino effect of bank closures further exacerbates these issues, as communities are left underserved and individuals are left without access to essential financial services. The bank collapse of 2024 has sent shockwaves through the finance industry, prompting reflection on the systemic vulnerabilities that have led us to this point. At the intersection of politics and the economy, tough decisions must be made to navigate these turbulent waters. The repercussions of bank shutdowns and business closures extend far beyond the balance sheets, shaping the social and political landscape in profound ways. While the video aims to shed light on these pressing issues, it is only the beginning of a much larger conversation. The complexities of the economy defy simple explanations, and the solutions to our current challenges will require collaboration and innovation on a global scale. As we delve into the intricacies of finance and the dynamics of business, let us remember that each data point represents real people and real communities grappling with uncertainty and hardship. If you find this video informative and thought-provoking, please give it a thumbs up and consider subscribing to our channel for more captivating content. Don't forget to hit the notification bell to stay updated with our latest videos. Share this video with your friends and family who may find it interesting. Keep watching to see economy, bank crisis, inflation, finances, cost of living, business shutdown.

The Fed Now Admits Banks Are At Risk, Major Crisis Unfolding As We Speak

Decades of growth fueled by low interest rates and easy credit have come to an abrupt halt. With a staggering 2.7 trillion dollars in commercial real estate loans held by U.S. banks, predominantly managed by smaller regional institutions accounting for approximately 80 per cent of the total, concerns are mounting regarding their resilience in the face of impending challenges. According to analysts at Goldman Sachs, a significant portion of this debt is slated to mature, with over 2.2 trillion dollars due by the close of 2027. These apprehensions were further heightened following the unexpected loss of 252 million dollars reported by New York Community Bancorp in the last quarter, a stark departure from the 172 million dollars profit recorded in the fourth quarter of 2022. The company attributed this downturn to a notable surge in loan losses, particularly in the realm of commercial real estate financing. The repercussions of this concerning trend reverberated through the financial markets, as evidenced by a significant decline in the bank's shares, plummeting nearly 50 per cent over the past five trading sessions. Concurrently, the U.S. Regional Bank index experienced a notable 7 per cent drop during the same period. Investors find themselves grappling with a familiar sense of unease as apprehensions mount over the looming specter of a crisis in the 20 trillion-dollar commercial real estate market. Unlike previous downturns centered around interest rate volatility, the current turmoil stems from fundamental challenges ingrained within the industry. Decades of growth fueled by accommodative monetary policies and accessible credit have ground to a halt, with office and retail property valuations embarking on a downward trajectory since the onset of the pandemic. The U.S. Federal Reserve's efforts to curb inflation through interest rate hikes have further compounded the sector's woes, particularly impacting its credit-dependent nature.

HERE WE GO: Fed Chair Powell Declares Certain Banks Must Go Amidst Commercial Real Estate Downturn

Is the regional bank crisis ending or just starting? Recent developments, such as the sharp decline in New York Community Bancorp's stock from commercial real estate losses, signal potential trouble. With $500 billion in debt maturing this year and falling property values, small banks are bracing for a crisis.

The Next Great Recession Has Already Begun In Commercial Real Estate

Biden Admin Instructed Banks to Target Trump Supporters Without Due Process

MATT MARGOLIS | 10:54 AM ON JANUARY 18, 2024
AP Photo/Nati Harnik, File
It’s bad enough that the Biden administration targeted pro-lifers and treated concerned parents who spoke out at school board meetings as domestic terrorists. But according to documents acquired by the Select Subcommittee on the Weaponization of the Federal Government, the Biden administration also directed banks to scrutinize customer data for transactions containing terms such as "TRUMP" or “MAGA,” without legal justification or due process. 

House Judiciary Chair Jim Jordan (R-Ohio) revealed these shocking details in a letter requesting an interview with Noah Bishoff, the former director of the Office of Stakeholder Integration and Engagement in the Strategic Operations Division of the Financial Crimes Enforcement Network (FinCEN).

"The Committee and Select Subcommittee have obtained documents indicating that following January 6, 2021, FinCEN distributed materials to financial institutions that, among other things, outline the ‘typologies' of various persons of interest and provide financial institutions with suggested search terms and Merchant Category Codes (MCCs) for identifying transactions on behalf of federal law enforcement," Jordan wrote. "These materials included a document recommending the use of generic terms like ‘TRUMP' and ‘MAGA' to 'search Zelle payment messages' as well as a 'prior FinCEN analysis' of 'Lone Actor/Homegrown Violent Extremism Indicators.’"

Related: Trump Isn’t the Only Republican That Dems Are Trying to Boot Off Ballots

“According to this analysis, FinCEN warned financial institutions of ‘extremism’ indicators that include ‘transportation charges, such as bus tickets, rental cars, or plane tickets, for travel to areas with no apparent purpose,’ or ‘the purchase of books (including religious texts) and subscriptions to other media containing extremist views.’ In other words, FinCEN urged large financial institutions to comb through the private transactions of their customers for suspicious charges on the basis of protected political and religious expression,” Jordan’s letter continued.

The Weaponization Committee also discovered that FinCEN distributed slides prepared by KeyBank, a regional bank based in Cleveland, Ohio, that explained how banks could use certain merchant category codes (MCCs) and keywords to potentially detect mass shooters, domestic terrorists, and homegrown violent extremists. Those keywords include gun manufacturers, but also sporting goods stores like “Cabela’s,” “Bass Pro Shops,” “Dick’s Sporting Goods,” and “Gander Mountain."

“Despite these transactions having no apparent criminal nexus — and, in fact, relate to Americans exercising their Second Amendment rights — FinCEN seems to have adopted a characterization of these Americans as potential threat actors. This kind of pervasive financial surveillance, carried out in coordination with and at the request of federal law enforcement, into Americans’ private transactions is alarming and raises serious doubts about FinCEN’s respect for fundamental civil liberties,” Jordan wrote before explaining to Bishop that he would be called in to testify before Congress.

For our VIPs: The Left Would Destroy the Constitution to ‘Save Our Democracy’

“Your testimony will help to inform the Committee and Select Subcommittee about federal law enforcement's mass accumulation and use of Americans' private information without legal process; FinCEN's protocols, if any, to safeguard Americans' privacy and constitutional rights in the receipt and use of such information; and FinCEN's general engagement with the private sector on law-enforcement matters,” Jordan wrote. 

‘No Apologies’ From ‘Weaponized’ Banks Canceling Faith Groups~FOR EXAMPLE: BANK OF AMERICA, J.P. MORGAN CHASE, BLACKROCK, WELLS FARGO

An increasing number of Christian and conservative organizations say they're being 'de-banked.' Accounts are closed, payment processors are turned off, or some are placed on a donor 'blacklist.' Banking and financial services have become weaponized. Christian and conservative groups labeled 'high risk' can be denied financial services, and it's happening under the cover of federal banking laws. Among the victims? Indigenous Advance Ministries, which helps orphans and widows in Africa. Its account was closed by Bank of America. Read the full story from CBN's Dale Hurd: https://cmsedit.cbn.com/cbnnews/us/20...

McCarthy launches Biden impeachment inquiry~THEN: Matt Gaetz Launches An All-Out Assault On Kevin McCarthy’s Time As Speaker

Matt Gaetz Launches An All-Out Assault On Kevin McCarthy's Time As Speaker

In remarks from the House floor, Rep. Matt Gaetz (R-FL) ripped into Speaker of the House Kevin McCarthy (R-CA) moments after the latter announced an impeachment inquiry into President Biden. Gaetz excoriated the Speaker for not upholding his agreement that won him the chair in a chaotic bid for the speakership.

Marjorie Taylor Greene: A 'corrupt criminal' is leading the government

Conservative Event Cancelled Due To Payment Processor HALTING Funds

John Sabal, the founder and President of The Patriot Voice, is a disabled, Navy veteran who has filed a $18M lawsuit against the payment processing giant Total System Services Inc. (TSYS) after they withdrew their services claiming The Patriot Voice Events were racist. [https://thepatriotvoice.us/](https://thepatriotvoice.us/) Paul Davis, Managing Attorney at Paul M. Davis & Associates, P.C. is representing John Sabal and The Patriot Voice. Find John Sabal on X - @TPV_John, Truth - @ThePatriotVoice and on Instagram @tpvjohn Find Paul Davis at @fireduptxlawyer

SEE: https://www.tsys.com/

 

These Global Organizations Want to Control You

These Global Organizations Want to Control You

  • By Ben Shapiro
  • Published August 21, 2023
  • https://thevaccinereaction.org/2023/08/these-global-organizations-want-to-control-you/; Republished below in full unedited for informational, educational, & research purposes.

There’s a group of people who control what you are allowed to see, what you read, what you watch, the posts you engage with. You haven’t heard of them, you don’t know their names. But they determine, through methods both direct and indirect, whether you are allowed to be exposed to particular messages. Their decisions can bankrupt companies, silence voices and fundamentally shift cultural norms. Who are these people and how do they do this? Well, at the top level you have a network of global elite and its creed… a universal framework full of guidelines and ratings designed to enforce approved narratives and punish disapproved ones.

Biden Moves Forward With Plan to Cancel $39 Billion in Student Loan Debt

By Anthony Gonzalez 11:32 PM on August 14, 2023
SEE: https://pjmedia.com/news-and-politics/anthony-gonzalez/2023/08/14/biden-moves-forward-with-plan-to-cancel-39-billion-in-student-loan-debt-n1719285; Republished below in full unedited for informational, educational, & research purposes.

Biden Moves Forward With Plan to Cancel $39 Billion in Student Loan Debt
AP Photo/Susan Walsh, File
President Joe Biden announced on Monday that he would be moving forward with his administration’s plan to cancel $49 billion in student loan debt for over 800,000 borrowers.

“On Day One of my Administration, I promised to fight for hardworking families and to fix problems in the student loan system that have been failing borrowers for too long,” Biden said in a statement released by the White House.

“I’m proud that my Administration is delivering on that promise and has already approved over $116 billion in debt cancellation for 3.4 million Americans – no matter how many lawsuits, challenges, or roadblocks Republican elected officials or special interests put in our way,” he added.

Biden said the loan cancellation plan, which was announced by Secretary of Education Miguel Cardona in July, seeks to address “errors and administrative failures of the student loan system that started long before I took office.”

“When I came into office, hundreds of thousands of borrowers weren’t accurately getting credit for student loan payments that should have delivered them forgiveness under Income-Driven Repayment plans or were placed into forbearance by loan servicers in violation of Department of Education rules,” Biden claimed. “Under these plans, if a borrower makes 20 or 25 years’ worth of payments, they get the remaining balances of their loans forgiven.”

On Monday, ABC News reported that some of the 800,000 borrowers who are eligible for the plan will receive an email containing the subject line: “Your student loans have been forgiven.” The outlet noted that the email process would be completed in a “matter of weeks.”

Approximately 614,000 individuals are expected to have their student loan debts nullified.

Biden said on Monday that his latest effort to cancel student loan debt is an example of one of the “alternative” paths his administration has taken to provide relief to several borrowers.

Related: ‘Bidenomics’ Is One Major Fail After Another

“As I announced earlier this summer in the wake of the Supreme Court’s decision on our student debt relief plan, we will continue to pursue an alternative path to deliver student debt relief to as many borrowers as possible as quickly as possible. We will use every tool at our disposal to get student loan borrowers the relief they need to reach their dreams,” the president said. “We will use every tool at our disposal to get student loan borrowers the relief they need to reach their dreams.”

Since Biden took office in January 2021, the Department of Education has forgiven over $116 billion in federal student loan debt held by more than 3.4 million students.

Bank of America ordered to pay $250 million for fake accounts, junk fees and withheld credit-card rewards

Wells Fargo paid out billions for similar practices

BY STEVE GELSI

SEE: https://www.marketwatch.com/story/bank-of-america-ordered-to-pay-250-mln-for-fake-accounts-junk-fees-and-withholding-credit-card-rewards;

Republished below in full unedited for informational, educational, & research purposes.

The Consumer Financial Protection Bureau said Tuesday that Bank of America Corp. would pay a total of $250 million for illegally charging junk fees, withholding credit-card rewards, and opening fake accounts.

The bank BAC, +1.26% will pay more than $100 million to consumers who were harmed by these activities. The Office of the Comptroller of the Currency said the bank’s “double-dipping on fees” was illegal.

Bank of America will pay penalties of $90 million to the CFPB and $60 million to the OCC.

“Bank of America wrongfully withheld credit card rewards, double-dipped on fees, and opened accounts without consent,” said CFPB Director Rohit Chopra. “These practices are illegal and undermine customer trust. The CFPB will be putting an end to these practices across the banking system.”

A Bank of America spokesperson said: “We voluntarily reduced overdraft fees and eliminated all nonsufficient-fund fees in the first half of 2022. As a result of these industry-leading changes, revenue from these fees has dropped more than 90%.”

The spokesperson was referring to a Jan. 11, 2022, announcement about Bank of America reducing its overdraft fees and eliminating nonsufficient-fund fees.

Bank of America’s stock was up 1% in regular trades.

The moves come amid a crackdown by the Biden administration against junk fees.

In December, Wells Fargo & Co. WFC, +0.99% agreed to pay $3.7 billion for wrongdoing and mismanagement, including more than than $2 billion in redress to consumers.

The CFPB said that Wells Fargo had harmed millions of people through wrongful car repossessions, improper denials of mortgage-loan modifications, and surprise overdraft fees that were charged to consumers who in fact had enough funds in their accounts at the time of their transactions.

Eric Schiffer, the chair of the Patriarch Organization, a private-equity firm, said the transgressions by Bank of America appear to be more contained than those of Wells Fargo, but that the bank’s reputation with consumers with be hurt.

“It’s a wake-up call for all financial firms to make sure their compliance is in place to protect the most valuable asset you have, which is the relationship with your customers,” Schiffer said. “Cutting fees is a distraction to balance the hit Bank of America just got on trust. The backdrop is consumers are still skeptical about banks because of a pattern of scams like Wells Fargo or banks not having enough assets to cover withdrawals like what happened at SVB [Silicon Valley Bank].”

Separately on Tuesday, William F. Galvin, secretary of the Commonwealth of Massachusetts, ordered Raymond James Financial Services Inc.  RJF, +1.13% to return $8.25 million plus interest to customers who were charged “unreasonably high fees” as part of a settlement, according to a statement.

He also ordered Raymond James to pay $4.2 million in fines and penalties to the six states involved in the probe of the financial firm.

Galvin said an investigation revealed that the broker-dealer had levied “unreasonable commissions” on more than 270,000 equity transactions since 2018.

The broker had applied a $75 minimum commission regardless of the “reasonableness” of the commission. Raymond James’s stock was up 0.6% in recent trades.

From the archives (December 2022): Wells Fargo ordered to pay $3.7 billion for alleged mismanagement of auto loans, mortgages and deposit accounts

Bank of America Turns Over Information on Gun Owners to the FBI

Bank of America Turns Over Information on Gun Owners to the FBI iStock-471503379

BY JOHN CRUMP

SEE: https://www.ammoland.com/2023/06/bank-of-america-turns-over-information-on-gun-owners-to-the-fbi/;

Republished below in full unedited for informational, educational, & research purposes.

WASHINGTON, D.C. — FBI whistleblowers have come forward with damning allegations against Bank of America (BoA). According to Representative Thomas Massie (R-KY) and Rep. Jim Jordan (R-OH), the banking giant has been revealing information to the FBI about its customer’s gun purchases without a warrant. Now the pair has sent letters to other banks to see if they also violated the privacy rights of their customers.

After the protest at the U.S. Capitol on January 6, 2021, Bank of America provided the FBI with a list of customers who made transactions in or around Washington, D.C., purchased a flight to the Nation’s Capital, or booked a hotel room in the Washington D.C. metropolitan area. Most of Bank of America’s customers that attended the large rally never entered the Capitol Building, and the FBI did not have probable cause to allow the law enforcement agency to get a court order for the bank to surrender the documents.

When the FBI approached BoA about turning over the records, the bank complied without requesting a court order.

The megabank would put anyone in or around D.C. and purchase a gun on the top of the list. By simply being in or around D.C. on January 6 and purchasing a firearm using a BoA product, the FBI would mark you for investigation. The FBI investigated many BoA customers without a court order and with the full cooperation of Bank of America.

“In a transcribed interview, retired FBI Supervisory Intelligence Analyst George Hill testified that BoA, ‘with no directive from the FBI, data-mined its customer base’ and compiled a list of BoA customers who used a BoA product during a specified date range. Mr. Hill further noted that ‘on top of that list, they put anyone who had purchased a firearm during any date.’ Mr. Hill also testified that the list that BoA provided targeted transactions in Washington D.C., and the surrounding area,” the letter reads.

The letter was sent to JPMorgan Chase & Co, Citigroup, Trust Financial Corporation, Wells Fargo, U.S. Bancorp, and PNC Financial Services. The Congressmen are asking the banks to provide any documents or communications about the release of customer data from January 6, 2021, timeframe to the FBI or any other federal law enforcement agencies.

This request is to see if the other major banks of similar size leaked the same customer information to the federal authorities that Bank of America released.

“Congress has an important interest in ensuring that Americans’ private information is protected from collection by federal law enforcement agencies without proper due process. The Committee and Select Subcommittee must understand if, how, and to what extent financial institutions, including PNC Financial Services, worked with the FBI to collect Americans’ private data,” the letter reads.

Many are concerned that the FBI is becoming overtly political and weaponized against anyone the Biden regime considers enemies. We have seen the weaponization of the Internal Revenue Service (IRS) against conservative non-profits. The FBI has also used documents like the discredited “Steele Dossier” to get FISA warrants to surveil political opponents. Some of those concerned about the weaponization of government agencies are serving in Congress.

It should concern all Americans (not only gun owners) that big business is working hand and hand with big government. Instead of protecting its customers’ data, it turns it over to the surveillance state without a fight. Gun owners now know that Bank of America is not protecting their data from an ever-encroaching government. The only question now is how far the rot goes.

About John Crump

John is an NRA instructor and a constitutional activist. John has written about firearms, interviewed people from all walks of life, and on the Constitution. John lives in Northern Virginia with his wife and sons and can be followed on Twitter at @crumpyss, or at www.crumpy.com.

John Crump

Biden Begs Bankers for $1 Billion Campaign Infusion

Biden Begs Bankers for $1 Billion Campaign Infusion

BY BEN BARTEE

SEE: https://pjmedia.com/news-and-politics/benbartee/2023/05/04/biden-begs-bankers-for-1-billion-campaign-infusion-n1692638;

Republished below in full unedited for informational, educational, & research purposes.

Like the sad corporate slave that he is, Biden’s handlers recently sent him, hat in hand, to the multinational banker mafia to beg for an additional $1 billion to complement the cool billion he got handed last time around — in exchange for a solemn promise on his part that “nothing will fundamentally change” once elected president.

Via Financial Times (emphasis added):

Joe Biden is racing to win early support from Democratic donors for his re-election bid, hoping to beat the $1bn haul he landed in 2020 ahead of what some pundits predict will be the most expensive presidential race in US history.

Biden’s announcement this week that he intends to run for a second term in 2024 allowed his campaign team to start fundraising in earnest. Within hours of his declaration, they set about putting the finishing touches to a two-day event in Washington starting on Friday that will bring together Wall Street financiers and other backers, said people familiar with the matter.
The donor list includes many of those who helped fund his last campaign, the people said, including Blackstone’s Jon Gray, Evercore’s Roger Altman and Centerview’s Blair Effron. But his advisers are trying to expand the donor base to include backers who did not give money last time around, the people added.

Many donors are particularly energised by a determination to prevent Donald Trump from returning to the White House. Yet several warned that Biden would have to overcome much of the same scepticism that his candidacy generates among voters more generally, including concerns over his age and lacklustre approval ratings. Others raised concerns over what they see as his brand of populist economics and regular criticism of corporate America.

First of all, calling Biden a “populist” is hilariously stupid. But more to the point: why do these people have such antipathy for populism? Is it because they are the enemies of the people and everyone who hasn’t had their brain excavated by MSNBC knows they are enemies of the people?

The “nothing will fundamentally change” pledge hasn’t exactly worked out — for normal Americans.

Things have changed. The American middle class has been further decimated. Way more illegal aliens are permitted to cross the Southern border with no paper while, at least until the Public Health™ emergency ends May 11, unvaccinated American citizens still have to perform a PCR test to enter their own country. The list of offenses could go in ad infinitum.

Meanwhile, profits of the kind of multinational corporations like Blackrock that Biden is currently begging for money from have been doing just fine — which is what Biden really meant by “nothing will fundamentally change.”

In what future historians will recognize as the greatest period of wealth transfer possibly in history, Blackrock’s assets swelled to record highs during the pandemic while hundreds of thousands of American small businesses went under, never to recover.

To keep the gravy train rolling, all Blackrock has to do is toss a few scraps to its dog for being a good boy. There is no better return on investment than buying a politician.

________________________________________________________________

SEE ALSO:

https://conservativeplaylist.com/2021/11/05/4-things-to-know-about-politically-connected-activist-blackrock-and-its-china-investments/

 

MONICA CROWLEY: What are the dangers of a digital dollar?~A threat to all our freedoms!

‘The Monica Crowley’ podcast host Monica Crowley warns about the push to adopt a digital currency across the western world on ‘Kudlow.’

Media Ignore Bank Records: “Biden Has Been Bought Off by the Chinese Communist Party”

Media Ignore Bank Records: “Biden Has Been Bought Off by the Chinese Communist Party”

BY SELWYN DUKE

SEE: https://thenewamerican.com/media-ignore-bank-records-biden-has-been-bought-off-by-the-chinese-communist-party/;

Republished below in full unedited for informational, educational, & research purposes.

Barack Obama once reportedly said of Joe Biden, the man he worked with for eight years, “Don’t underestimate Joe’s ability to f*** things up.”

We can only imagine how much Biden could mess things up were he compromised via foreign cash payments. But we perhaps don’t have to imagine how much he has messed himself up in taking those payments — because he left a recently uncovered bank-record paper trail a mile long.

The evidence is so profound, mind you, that commentator Thomas Lifson writes, “Joe Biden has been bought off by the Chinese Communist Party.” This doesn’t mean the mainstream media will report on it, though.

In fact, in time most odd, the story about the Biden bank records was followed the very next day by the revelation that Donald Trump might be arrested for an apparently legal non-disclosure-agreement payment. Why, a cynic could almost think that the latter is meant to distract from the former.

Lifson reports on the Biden story:

Thanks to the efforts of [Representative] James Comer [R-Ky.], we already have bank records of $1 million flowing to Biden family members through a cutout named Rob Walker, shortly after Biden left office as VP.

There is no indication of any particular services performed for this treasure, nor is there any expertise among the recipients, who include the current POTUS’s son Hunter, his brother James, Hunter’s mistress-at-the time Hallie Biden (who is also his brother’s widow and Biden’s daughter-in-law) and an entity simply named “Biden.”

Rep. Comer, appearing on Maria Bartiromo’s Sunday Morning Futures program on Fox News, said that this is “only the beginning.” There are “as many as 11 other deals” that are being examined by his committee.

“We’re gonna follow the money. We knew there was a money trail; we’ve spoken to enough people that were involved in the shady business games all around the world,” Comer also told Bartiromo. “Everything that we’ve subpoenaed thus far was accurate from what our whistleblowers were telling us, and we have a whole lot more information.”

The Washington Examiner provides more detail, writing:

The first deal refers to a report released by House Oversight showing Hallie Biden … received $35,000 from accounts tied to Hunter Biden’s associate Rob Walker, including $25,000 that appears to have originated from a Chinese company. The report cited bank records from Walker that were subpoenaed by the committee earlier this year.

The committee’s report showed the Chinese company State Energy HK Limited transferred $3 million to Robinson Walker LLC, an account belonging to Walker, two months after Joe Biden left the White House as vice president in 2017.

Hallie Biden received an initial payment of $10,000 from Walker’s account on Feb. 13, 2017, and another $25,000 on March 20, 2017, according to the report. Lawmakers wrote in the report that “Biden family members and their companies began receiving incremental payments over a period of approximately three months” following the initial payments.

“We don’t know what the Biden’s did in return for this money,” Comer said. “The lawyer said that it was a seed capital for business. We haven’t been able to find a business.”

Lifson points out that a “key moment” came six and a half minutes into Comer’s interview:

“The White House hasn’t been truthful about this from Day One. I don’t think the White House ever dreamed we would get bank records,” the congressman said. “I’ve got bad news for the White House: This is just the beginning. We’re gonna get a lot more bank records and they’re going to have to continue to backpedal and come up with some kind of reason why the Biden family has received millions and millions of dollars from our adversaries.” (Video below.)

Stating the obvious, Lifson also mentions that if a Republican officeholder — and especially President Trump — had been found to have taken oodles of cash from a geopolitical adversary he has been pandering to, it would be front-page news, and the word “treason” would figure prominently in it. Why, the Trump/Russia/collusion hoax was a media obsession for years, and an innocuous 2019 phone call Trump made to Ukrainian leader Volodymyr Zelenskyy was thought impeachment-worthy.

The kicker is that Biden was caught bragging (video below) at a January 2018 Council on Foreign Relations appearance about essentially the same thing Trump was impeached for: threatening to withhold aid to Ukraine for what might’ve been personal political gain.

If personal gain was the motivator, it’s not surprising that Biden might “mess things up” by boasting of his coercion, as self-exaltation is his wont.

Remember, though, that Biden’s son, Hunter, was paid $83,333 a month by Ukrainian energy company Burisma Holdings despite having no expertise whatsoever in that business. This brings us to why all these matters:

Is Joe Biden compromised by way of these foreign payments? Does Beijing have dirt on him that it uses to leverage favorable policy? Could he possibly be a Manchurian president?

And what of Ukraine? Could Biden’s total commitment to the nation’s war effort against Russia be influenced by dirt the Ukrainians might have on his family?

Perhaps this is unlikely; these are just thoughts. But this is why having a media that actually does its job — and exposes corrupt candidates so they’re not elected — matters.

Say what you will about Trump, but he lost money while in office and owing to his entry into politics in general. In contrast, Biden has parlayed political power into riches — even as our country gets poorer.

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