>> Michael Ruppert brags alot about having the ear of Rep.
>>McKinney.Michael Pugliese
Brad DeLong:
>Clearly she needs to listen to mbs! She did not mention House >Harkonnen or
the British East India Company once!
Thank goodness this was right at the beginning of the digest. I really get irked when I have to scroll through a mile of LBO-T just to get a Rad Brad dropping. Wow, in two lines, the most profound thing we've got from Rad Max and Rad Brad all year. If he could make it rhyme I'd nominate him for the Alexander Pope award.
I don't know much about Rep. McKinney, but it's irresponsible to be making such outbursts (if she did make them) without much to back it up or without much understanding of how Carlyle Group actually works (though most in the media are guilty of same, since they point out its a defense contractor, which makes people think, oh, like Boeing).
The tragedy here is, once you get a sense of how octopus-like private equity firms like CG help to make the federal government a huge waste of spending and ineffectiveness, you see where their true evil lies.
The wilder the accusation in this time of crisis the better for them to remain misunderstood, which is exactly what they want. I do get a hunch that when they unload stuff like IT Group and hold similar such things, like Duratek, they are a huge inside the beltway pyramid scheme that makes a core of earnings off of gov't 'services' contracts and a defense holding company . They are, in short, the Enron of private equity (earnings, returns, profits, lots of insider information, lots of smoke and mirrors, but the beauty of it is they aren't even under the weak watch of the SEC) . They've hit pay dirt with the current crisis and find themselves able to float IPOs on defense companies even . Now that they've got so much privileged private money parked with them they do have a problem figuring out what to do with it. Lately, they've been flogging their 'services' to mutual funds, trying to get them to commit to the Carlyle Way.
Charles Jannuzi