The Biden family paid their political dues, so former VP Joe Biden decided to cash in a few chips.
The world is becoming acutely aware of Joe Biden’s dealings to help Hunter Biden, the bad son get deals all over the world. A Ukraine court ruled that the Bidens got illegal money, though the amounts remain in question.
Hunter Biden has gone from being an albatross around his father’s political neck to being a Boeing 767. But Hunter Biden isn’t the only Biden benefitting from a relationship with the former VP.
Now, Biden again faces a major conflict-of-interest issue. This one has to do with his son-in-law.
Howard Krein has been informally advising on his father-in-law’s presidential campaign. His advice cover mostly the Chinese Wuflu, aka the Coronavirus. Krein currently invests in many healthcare companies focused on the Coronavirus vaccines and other solutions. StartUp Health. Krein’s investment firm began a new Coronavirus initiative in March. They focused on manufacturing products to fight the virus.
The following month Krein was listed as a member participating in daily phone calls with Biden briefing him on health policy during the pandemic. At that same time StartUp Health pledged to commit $1 million across 10 health startup focusing on COVID-19 in 30 days.
My bet is any decent investigative journalist could connect the dots on this fairly easily.
In reports from Politico:
Krein simultaneously advising the campaign and venturing into Covid investing could pose conflict-of-interest concerns for a Biden administration or simply create the awkward appearance of Krein profiting off his father-in-law’s policies.Since the start of the coronavirus outbreak, the federal government has directed tens of billions of dollars in coronavirus medical spending in areas like testing and vaccine research to private firms. It is poised to spend billions more next year and possibly beyond.
The potential conflicts are not limited to the coronavirus for Krein, 53, a Philadelphia-based head-and-neck surgeon who got into venture investing not long after he began dating Biden’s daughter, Ashley, in 2010.
Since StartUp Health’s 2011 launch, when Krein came on as its chief medical officer, it has invested in more than 300 health care businesses, according to its website, which prominently features the term “moonshot” to describe its investment goals — language that echoes that of Joe Biden’s own signature Cancer Moonshot initiative. In its early years, the firm enjoyed close ties to the Obama administration and described Krein as a White House adviser.
“I have little doubt that the relationship to Joe Biden, particularly if he becomes president, would attract the interest of some investors,” said Avik Roy, founder of Roy Healthcare Research, an investment research firm, and a former adviser to the presidential campaigns of Sens. Mitt Romney (R-Utah) and Marco Rubio (R-Fla.).
Clearly a conflict of interest ignored by Joe Biden.
Joe Biden’s son in law is a campaign advisor and currently investing in Covid start ups working on vaccines. Kind of think that’s a little bit more important than deadbeat crackhead Hunter Biden. pic.twitter.com/AmE1nuuvG1
— Stephen L. Miller (@redsteeze) October 14, 2020
If Joe Biden is elected President this connection could pose major implications for millions of Americans still suffering from the effects of the Coronavirus pandemic. Biden could easily focus funds towards Krein’s health startup producing a vaccine and shift billions in funds from other companies competing to put out a vaccine and easily make policies that could favor Krein’s firm.
The health industry is highly regulated and heavily influenced by federal spending. The clear ties to Biden would easily be enough to attract outside investors to flock to StartUpHealth, especially If Krein were to gain an inside track on policymakers’ intentions.
The idea of influence is not the only cause for concern. StartUp Health also is heavily tied to multiple foreign governments, specifically China. According to the firm’s website the Chinese tech conglomerate, Tencent is listed as a “co-investor” and has connections to Chinese insurer Ping An.
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