Consultant James Comer was on Sunday Morning Futures with Maria Bartiromo to debate his current revelations in regards to the Biden household.
Rep. James Comer shared right this moment with Maria Bartiroma that there are a lot of extra LLCs and plenty of extra international locations concerned within the Biden household cash laundering schemes.
China might be essentially the most respected nation that the Biden household was coping with. The query stays, what had been these members of the family doing to obtain this cash?
There’s no rhyme or motive for a few of these Biden members of the family to obtain any sort of cost from our adversaries world wide not together with the quantity that we’ve uncovered and we’re nonetheless digging by these pay violations.
Then Maria mentioned a potential motive for the funds the Biden household was receiving. One thing that we mentioned on the TGP for a while. Joe Biden gave Chinese language companies easy accessibility to US markets the place they wouldn’t should adjust to the rigorous Sarbanes-Oxley regulation that US corporations needed to adjust to.
In 2013, Vice President Joe Biden brokered a cope with China that gave the nation entry to US markets with out having to adjust to US compliance laws that US corporations needed to adjust to. John Solomon at Simply the Information reported:
Since 2013, Chinese language corporations have been allowed to take part in U.S. inventory and bond exchanges with out having to completely adjust to the identical Sarbanes-Oxley Act accounting practices and threat disclosure required of American corporations.
The concession was made in a little-noticed Memorandum of Understanding executed seven years in the past by the Public Firm Accounting Oversight Board (PCAOB), a nonprofit regulator empowered by the Sarbanes-Oxley legislation to make sure U.S. buyers are shielded from making unhealthy investments due to defective audits or monetary data.
The settlement was reached in Might 2013 after Chinese language leaders pleaded for improved entry to American capital markets in a number of conferences with then-Vice President Joe Biden, transcripts from the Obama administration’s archives present.
The Sarbanes-Oxley laws price US corporations tens of millions, if not billions, in compliance prices since put in place after the Enron collapse. For some motive, Biden thought Chinese language corporations mustn’t should adjust to these necessities which might be required of American corporations to make sure correct financials and key controls all through firm operations worldwide. These controls are audited not less than yearly and at a big price to the entity. There are additionally vital prices to arrange for these audits.
Reasonably than guarantee China’s corporations had been not less than as correct of their reporting and as well-controlled, Biden gave Chinese language corporations a go on the identical necessities mandated of US corporations. This deal allowed Chinese language corporations to acquire billions, if not trillions, in capital not obtainable in China.
Right here is Maria’s interview with James Comer.
The Biden household enterprise mannequin is constructed on Joe Biden’s political profession.
We now know not less than 9 Biden members of the family offered entry for revenue world wide. What had been our overseas adversaries paying for?@GOPoversight will ship transparency & accountability. @MariaBartiromo pic.twitter.com/VnJ6Oa7f3G
— Rep. James Comer (@RepJamesComer) April 23, 2023