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Biden Fundraiser Floated as Ambassador Pick Took Millions in PPP Loans While His Law Firm Won Massive Settlements
A prominent trial lawyer being floated as a potential ambassador pick by Joe Biden took millions of dollars in COVID relief, even as his firm was winning hundreds of millions in settlements.
Joseph Rice, cofounder of the South Carolina-based Motley Rice law firm, helped raise large sums for Biden's campaign and could land an ambassadorship spot in his administration, local reports indicate. Motley Rice received $7.03 million from Paycheck Protection Program funds, which were intended to help small businesses pay workers and stay afloat during the coronavirus pandemic.
Several companies have faced criticism for taking PPP loans when they did not need them, including from prominent Democrats. Those criticisms don't seem to have swayed the incoming administration, which the State says is considering Rice for an ambassador role.
Rice's firm gained approval for the loans after stacking up massive legal wins. In October 2019, Motley Rice announced a $260 million settlement against opioid manufacturers Teva, Cardinal Health, AmerisourceBergen, and McKesson. In November 2020, it helped win a $26 billion settlement from Johnson & Johnson and other pharmaceutical companies. Law firms often work on a contingency basis and receive portions of the settlements they reach.
"When a highly successful law firm receives millions of dollars in PPP money, it raises questions as to whether those funds actually went to preserve jobs, which is the purpose of the PPP program, or merely padded the shareholder attorneys' profitability," William Jacobson, a professor at Cornell Law School, told the Washington Free Beacon. "This certainly raises serious questions that warrant investigation if a founding member of the law firm is nominated for an ambassadorship."
Other prominent plaintiff lawyers said the pandemic did not have a big impact on the industry and that they did not seek bailouts.
BIDEN'S ADMIN IS INFESTED WITH LAWYERS!
Rice helped gather more than $100,000 for Biden's presidential campaign. Employees at his firm donated solely to Democrats during the 2020 cycle, including nearly $50,000 to Biden. Biden also had a fundraiser at Rice's Mount Pleasant, S.C., home in late February.
The wealth amassed by Rice, who is considered one of the most successful trial lawyers in the country, has allowed him to purchase a 100-foot yacht and build his own golf course. He is also one of the biggest donors to the University of South Carolina.
Neither Rice nor the Biden transition team responded to requests for comment.
McConnell: House Stand-Alone Bill to Increase Checks to $2,000 Has ‘No Realistic Path to Quickly Pass the Senate’
Senate Majority Leader Mitch McConnell (R-KY) on Wednesday said the House stand-alone bill to increase stimulus checks to $2,000 has “no realistic path to quickly pass the Senate,” maintaining any action on that front will need to include Section 230 reform and investigations into voter fraud.
McConnell repeated Wednesday that the Senate will not take action on increasing the amount of stimulus checks from $600 to $2,000 without addressing two other issues outlined by President Donald Trump.
“Here’s the deal: The Senate is not going to split apart the three issues that President Trump linked together just because Democrats are afraid to address two of them,” McConnell said, noting that the House bill, which does not address the other two issues, has “no realistic path to quickly pass the Senate.”
“The Senate is not going to be bullied into rushing out more borrowed money into the hands of Democrats’ rich friends who don’t need the help,” the Kentucky Republican said.
McConnell placed the blame back on Democrats, explaining they hope “everyone just forgets about election integrity and big tech.”
“They’re desperate to ignore those two parts of President Trump’s request,” he said, although Minority Leader Chuck Schumer (D-NY) pressed for an “opportunity for an up-or-down vote.”
McConnell this week presented a measure that raises stimulus checks to $2,000, as well as repeals Section 230 and establishes a commission to investigate allegations of voter fraud.
Sen. Bernie Sanders (I-VT) is among lawmakers pressuring McConnell to take action on increasing direct payments alone.
“He happens to be right on this issue,” Sanders said of Trump’s call to increase payments during an appearance on Fox News.
“I think he is correct in saying that we are living in a terrible, terrible economic moment for tens of millions of working-class families. We fought very hard to get the $600 direct payment,” he continued.
“Trump is right in saying that’s not enough. We need to go to $2,000,” Sanders added.
House Speaker Nancy Pelosi (D-CA) also addressed the issue Wednesday, placing the blame squarely on Republican senators, whom she said have “an endless tolerance for other people’s sadness.”
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