By Kristen Altus FOXBusiness | Published March 27, 2023 8:19am EDT
Sen Ron Johnson: Cathay Bank ‘willingly’ provided Biden bank records
A “Mornings with Maria” panel says the American public should be “rightly concerned” with the Biden family’s financial relations with China. As more confirmations come forth regarding the Biden family’s business dealings in China, Americans are calling on President Joe Biden to address the “significant and important” financial connection.
“When you see this kind of a connection between a sitting president, his son and the Chinese government, when people just don’t trust this and know that it’s one of the biggest threats facing us right now, that’s a really big issue that needs to be addressed,” Maslansky + Partners President Lee Carter said on “Mornings with Maria” on Monday.
Her comments come on the heels of Sen. Ron Johnson, R-Wis., revealing Sunday to host Maria Bartiromo that Chinese-American-owned Cathay Bank disclosed Biden family bank records that match U.S. regulator records.
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“A bank from China, let’s face it, the Communist Party controls those types of institutions; they willingly gave us the documents that backed up the Treasury records,” Johnson said on “Sunday Morning Futures.”
While Cathay Bank was founded in the U.S. in 1962 and is currently headquartered in Chinatown, Los Angeles, they also house representative offices in Beijing, Shanghai and Taipei, according to its website. It also claims to be America’s oldest operating bank founded by Chinese Americans.
Despite Biden denying in recent weeks that his son, Hunter Biden, brother Jim, and Hallie Biden, the widow of his son, Beau, received split payments of $1 million from Hunter’s business associate, Rob Walker, Johnson claimed the new Cathay Bank records solidify the House Oversight Committee’s investigation into the family’s international business ventures.
“Is that the Chinese Communist Party, is that a shot across President Biden’s bow, saying, ‘Listen, this is some of the information we have. If you don’t toe the line, if you don’t do things that displease us, we’re going to even provide … more information,'” Johnson said. “So, we obviously have a multiple-tier system of justice.”
Carter further argued Monday that Americans’ concerns around Biden’s potential Chinese collusion are valid.
“This isn’t just a Chinese bank, this is an American bank that was founded by Chinese Americans,” Carter said. “After everything that we’ve been through with China, at this moment, only 15% of Americans trust China … the American people are rightly concerned. They deserve to have answers. And I think at a minimum, the president needs to make a statement and address people’s concerns because they’re valid.”
Financial services industry veteran Michael Lee also joined the conversation Monday, pointing out the coincidence of U.S. banks’ reluctance to provide Congress with information now that a Democrat holds office.
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“Let’s just go back in time and remind everyone: Nobody gets [$1 million] sole mandate from the Chinese government to start a private equity firm, especially one that doesn’t have any private equity experience, especially someone that doesn’t have any private equity experience and has a debilitating crack habit,” Lee said.
“So, what type of influence did they buy as the Chinese Communist Party is running around with Russia, Saudi Arabia, Iran, setting up a new reserve currency to take out the United States of America?” he continued. “What did the Bidens give up and what is it doing to our national security?”
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