You don't seriously think the Chinese are so stupid as to think they could get better private equity returns with Hunter Biden and John Kerry's stepson Chris Heinz than they could with, say, Goldman Sachs or Morgan Stanley, do you?

So what could they get from the two unaccomplished promoters that they couldn't from Goldman or Morgan?

The answer is twofold: the ability to buy American military technology and the ability to gain U.S. State Department approval for doing so. Who was the secretary of state in 2015? None other than Chris Heinz's stepfather, John Kerry.

In 2015, the Aviation Industry Corporation of China teamed up with Bohai Harvest RST to buy Henniges Automotive, a producer of high-tech anti-vibration components for automobiles. Bohai Harvest's investment funding, though "managed" by Hunter Biden and Chris Heinz, had come in large part from Chinese government interests. So it's stretching the truth to say a Chinese investment pool "teamed up with" a Chinese company to buy the components-maker. Really, it was the Chinese buying an American company.

At a big-bracket investment firm such as Goldman or Morgan, such a transaction would have had to pass muster through teams of compliance and due diligence officials. What sort of compliance review do you think occurred at the so-called private equity firm run by a drug-addicted ne'er-do-well like Biden or like Kerry's stepson?

Private equity funds tend to charge one or two percent a year on invested capital plus 20% of profits. Assuming that the fund had a total of $1.5 billion of "assets under management," the lucky fellows were — and probably still are — splitting $15 or $30 million a year.

Senate Finance Committee chairman Chuck Grassley believes that something is wrong with the Chinese role at Bohai Harvest. He is calling for hearings that would get to the bottom of it.

Here is the official Senate Finance Committee statement.