Another donor, Patrick Baskette was former special assistant to Senator Biden. Biden, whose entire career was funded by the banking industry more specifically credit card giant MBNA is responsible for some of the worst financial legislation in history.
A couple of the most egregious of the bills that Joe Biden sponsored were the 2005 Bankruptcy Bill that is responsible for the $1.2 trillion in unforgiveable student loan debt and the 1990's crime bill that has resulted in the massive for profit industrial prison complex. The International Business Times reported extensively on Biden's tawdry Senate career.
Biden began his career at age 29 by winning his senate seat with the backing credit card giant MBNA and quickly rose to gain a seat on the Senate Judiciary Committee that oversees bankruptcy legislation. Over the span of Biden's career he received $1.9 million in campaign funding from the financial industry.
In 1977 Biden began arguing that students were filing bankruptcy right after graduation to avoid repayment of student loans. Although a GAO report repudiated those claims and found that less than 1% of student loans were erased in bankruptcy, Biden was able to get the bankruptcy legislation through.
The bill prohibited students from seeking bankruptcy protection for government-sponsored loans until 5 years after graduation.
By 1984 Biden had seniority on the Judiciary Committee passed a bill that extended the student loan bankruptcy exemptions to include loans for vocational schools and the bill was signed into law by President Reagan.
In 1990 Biden was the chief sponsor of the 1990 Crime Control Act that toughened criminal sentences. Included in Biden's bill were provisions that lengthened the amount of time debtors would have to wait before they could access traditional bankruptcy protections for their federal and non-profit student loans.
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