How Privileged Democrats Pay for their Houses

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Front Page Magazine:

Like millions of Americans, Delaware Republican Senate nominee Christine O’Donnell has had trouble covering her mortgage and other bills over the years. Her opponents consider this a scandal of disqualifying proportions. But there’s a bigger disgrace: It’s all the sanctimonious Democrats who have exploited their entrenched political incumbency to pay for multiple manses and vacation homes — while posing as vox populi.

Former senior senator from Delaware and current Vice President Joe Biden has a custom-built house in Delaware’s ritziest Chateau Country neighborhood. It is now worth at least $2.5 million and is the Bidens’ most valuable asset. Biden tapped campaign funds to pay for his compound’s lawn needs. He secured the new estate with the help of a corporate executive who worked for Biden’s top campaign donor, credit card giant MBNA.
In 1996, Biden sold his previous mansion to MBNA Vice Chairman John Cochran. The asking price was $1.2 million. Cochran forked over the full sum.Biden then paid $350,000 in cash to real estate developer Keith Stoltz for a 4.2-acre lakefront lot. Stoltz had paid that same amount five years earlier for the undeveloped property.

Stoltz told the Wilmington News Journal that “the residential real estate market was soft” at the time he sold the land to Biden. But “soft” for whom? Stoltz was a well-off businessman who didn’t appear to be in such dire financial straits that he needed to unload the property quickly in a weak market.