Vice President Joe Biden issued an apology on Wednesday for calling people who squeeze loans from U.S. military working overseas as "shylocks", saying that it was "poor choice of words."

Biden's apology came after his statement was rebuked by the Director Abraham Foxman of the Anti-Defamation League, saying that the vice president "should have been more careful" because the term shylock was an offensive stereotype about Jews.

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During his speech in the White House on Tuesday, Biden recounted a story from his son's experience while serving on a tour in Iraq.

According to Biden, his son would talk to members of the military who shares their problems back in the U.S, saying that there were people who were threatening them with foreclosures because of bad debts.

Biden referred to these people as "Shylocks who took advantage of these women and men while overseas."

The use of the word Shylock was in reference to the ruthless Jewish character from Shakespeare's "The Merchant of Venice" who demanded a pound of flesh from people who were not able to pay their debts.

On Wednesday, following Biden's apology, Foxman said that the vice president called him.

According to Foxman, they both agreed that the vice president needed to study more on his Shakespeare.

"There is no truer friend of the Jewish people than Joe Biden," the ADL director said, adding that Biden had no ill-intent on his statement.

Additionally, Foxman said that Biden have been committed in fighting Semitism and was not afraid to admit his mistake.

The controversial remark of the vice president came as he visited Iowa, which created speculations that he might be setting his sights into running for the 2016 presidential nomination in the Democratic party.

Biden invited more scrutiny when he mentioned in his speech that he went to Singapore and met with Prime Minister Lee Kuan Yew, who he described as the wisest man in the Orient, a term which many Asians consider as offensive.

TagsBiden, Joe Biden, vice president, Iowa, shakespeare, shylock, merchant of venice