The Corner

Obama, Biden, and Bankruptcy

Many in the media are paying attention to Joseph Biden’s long and deep ties to MBNA, the Delaware-based credit-card company that is part of Bank of America.  There have been mentions of the company’s generous payments to Biden’s son, as well as a top company’s generous purchase of Biden’s house.  They’re always mentioned in relation to Biden’s support of the Bankruptcy Bill.  

Which brought to mind an Obama stump speech I heard in Columbia, South Carolina last January.  From my story at the time:

As the cheering continued, Obama hit Hillary Clinton as someone just too steeped in Washington to be straight with anyone. “People don’t say what they mean when they’ve been in Washington too long,” he said, with a look of mock amazement. “You know, Senator Clinton, during that same debate, somebody asked her about the bankruptcy bill. She voted for a bankruptcy bill in 2001, that the credit cards and the banks had been pushing, that made it more difficult for folks who have been trapped in these unscrupulous loans, where you get zero interest and then suddenly it pops up to 30 percent. And the credit card companies, even though they are sending these things in the mail constantly every day they don’t want you to get out from under that debt. So Tim Russert or somebody asked Senator Clinton, ‘Why did you vote for that bill?’ And she said, ‘Well, I voted for it, but I hoped it didn’t pass.’ What does that mean?”

It was a routine that could be easily re-worked to apply to Joe Biden, with the difference being that Biden did want the bill to pass.  


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