Saturday, June 6, 2009

Rahm & Rubenstein Break Bread

President Obama's Chief of Staff Rahm Emanuel dined with Carlyle Group co-founder David Rubenstein at the Blue Duck Tavern. The DealBreaker broke the story on June 2nd. The Deal ran with it the same day. Both speculated on the topics of discussion.

Did the power pair address carried interest taxation or private equity underwriters (PEU's) buying banks? How about Carlyle's $500 million Middle East North Africa fund? President Obama would soon speak from Cairo, promising to support business development in the region. Did they talk public private partnerships, ranging from education to health care to public infrastructure to legacy financial assets? Did they talk financial regulation and a free pass for PEU's? What about China and the Treasury Secretary's trip? Rahm is now pulling Tim Geithner's strings. What about relieving the burden of health insurance so corporations can compete in a global economy?

Did they reminisce over the gold ole days, before Rubenstein's Carlyle Group purchased LifeCare Hospitals from Rahm's old client, GTCR Golder Rauner? So much to discuss and so little time....