Carlyle Group co-founder David Rubenstein spoke to the Swedish Private Equity & Venture Capital Association’s congress in Stockholm, Sweden. He told the gathering of private equity underwriters (PEU's):
"China will become the single biggest investor in private equity", David Rubenstein said.The Swedish Wire reported:
Sovereign wealth funds will also continue to increase its presence at the global financial markets, he said, and play a bigger role in private equity activities.
Guess which groups have a free pass under Dodd's financial regulatory reform? Private equity underwriters and sovereign wealth funds. Who predicted it?
Communist China rising into the greediest capitalist has an ironic ring. China's abysmal quality record should combine with PEU's to deliver horrific products and services. Exactly how deadly, remains to be seen.