O.K. with regard to Biden, what is MBNA?

[vi5]

I see it everywhere and I honestly have no idea what the hell it means.

[SCDem]

1. MBNA credit card issuer

Relating to the bankruptcy bill that Biden supported. Comapanies can claim bankruptcy right and left but with the new bankruptcy law individuals can not despite medical set backs etc.

[flpoljunkie]

2. Joe Biden's #1 contributor over the last decade is, you guessed it, MBNA

http://www.opensecrets.org/politicians/contrib.asp?CID=N00001669&cycle=2004

Link above to contribution chart from The Center for Responsive Politics for Joe Biden for the decade ending 2004.

1
MBNA Corp
$147,700

Also check out this link from Daily Kos on Biden's "pathetic letter to the Los Angeles Times." Note also that Delaware is one of the states that allows millionaires' "assets protection trusts."

http://dailykos.com/story/2005/3/13/162050/008

[woodsprite]

3. MBNA = corporate Delaware n/t

[Algorem]

4. Jim Hightower seems to have a lot to say about MBNA,

http://www.google.com/search?hl=en&lr=&ie=ISO-8859-1&safe=off&q=Jim+Hightower%2CMBNA&btnG=Search

WHO OWNS WASHINGTON?
4/5/2005

If you're confused at all on the question of who Washington serves, look no further for clarity than the recent enactment of a "bankruptcy reform" law.

Ask yourself this: Were you the one clamoring for bankruptcy reform? No. The vast majority of us had no idea this was even in the works, much less that we were about to get schnookered by our president and congress. This bill was the wet dream of Visa, MasterCard, MBNA, Citigroup, and other giant hawkers of credit cards. Having filled the mail boxes of every American with false offers of "free credit," these bankers are now alarmed that so many folks have fallen behind on payments and are having to declare bankruptcy to get a fresh start.

Rather than accepting responsibility for their own bad business practices, the banks went wailing to Washington, demanding that the people be banned from bankruptcy protection. "Make these bums pay us," was the ugly chant of the banker lobbyists. Never mind that half of the people who fall into bankruptcy do so because they're suddenly hit with unexpected (and uninsured) medical bills, and another 40 percent because of job loss, family death, divorce, or disability. Instead of siding with these poor folks, Washington has sided with the poor credit card industry – an industry that raked in only $30 billion in profits last year... and also put up millions in campaign donations to both political parties.

One measure of how completely Washington kowtowed to the bankers was seen in an amendment to exempt debtors from losing their full bankruptcy protections if their financial troubles are caused by ID theft. This can happen when thieves get hold of your credit card numbers – sometimes from the banks themselves – and milk you dry. The bankers killed this amendment, meaning that they can be responsible for your having to file bankruptcy, yet they prevent you from getting free of the debt they caused.

http://www.jimhightower.com/air/read.asp?id=11640

[flpoljunkie]

6. Al D'Amato tried to limit interest rate they could charge to 14% in 1991!

From Talking Points Memo bankruptcy blog:

ThinkProgress Asked:

Why would 18 senators that voted for a 1991 amendment offered by former Senator Alfonse D'Amato (R-NY) to limit the interest rate credit companies can charge to 14 percent only to vote against an amendment offered by Senator Mark Dayton (D-MN) to the current bankruptcy bill that would have limited that rate to 30 percent.

http://www.talkingpointsmemo.com/bankruptcy/archives/2005/03/index.php

_____________________

What could be going on here to change their vote? Could it be the campaign contributions they received from banks and credit card companies since 1991?

[Algorem]

13. No way!And Al D'Amato's...gone.

[smirkymonkey]

9. A little off topic, but does anyone think that the helicopter crash

(carrying MBNA executives) in the East River last week was "just an accident?"

I know, I know, tinfoil hat time. But these things do happen. :tinfoilhat:

[Algorem]

11. I was wondering if it was practice for when Biden's in it,if he's running.

[KurtNYC]

12. "purpose of the trip was unknown"

They ARE trying to get all of the parts of the copter and still have divers looking for the blades (foul play?).

The other pilot and the six passengers, all executives at MBNA Corporation of Wilmington, Del., which owns the helicopter, suffered only minor injuries, the police said. Two police officers and a civilian who joined in the rescue also suffered minor injuries, according to the emergency workers.

The six executives were released from Bellevue about four hours after the crash. MBNA identified them as Bruce L. Hammonds, who was named MBNA's chief executive in 2003; Lance L. Weaver; Thomas D. Wren; Douglas R. Denton; Frank Bramble; and Richard K. Struthers.
...
All eight men live in Delaware. The specific purpose of their trip was unknown.

http://www.nytimes.com/2005/06/18/nyregion/18chopper.html?adxnnl=1&adxnnlx=1119292380-U2ryBS8RYfudJz+yVui9ew

:tinfoilhat:

[bunkerbuster1]

16. Only minor injuries?

I was going to say "Damn!"
But That Would Be Wrong.

[smirkymonkey]

17. Hmmm....the plot thickens

Who would have a motive, besides MBNA cardholders being charged usurous fees?

[Travelin Man]

15. accidents happen to the wealthy and powerful too

a good friend of mine's twin brother was in a plane crash a couple of weeks ago. the electrical system went completely out in his twin engine small cargo airplane. he had no radio even. fortunately he had a walky talky so he could speak to the tower as back up but had to fly with a flashlight in his mouth to watch the guages.

he had to manually lower the landing gear but could not tell if they were down and locked. he had to fly over the tower and ask if the landing gear was down. they said it was.

when he landed all of the landing gear collapsed and he slid on the belly of the airplane. Miraculously, except for a sore back he was uninjured.

now he wasn't rich and famous but accidents do happen.

[NYCGirl]

5. MBNA is also the largest employer in Delaware. NT

[BrotherBuzz]

7. Good question and great answers

Not many dots to connect on this one. Thanks DU for enlightening another soul.

[wallwriter]

8. MBNA is Biden's Enron

[cyberpj]

10. see this thread for lots of info

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=132x1870572

[Zhade]

14. His sugar daddy.

NT!