Thursday, April 25, 2013

Rubenstein's Preeminent PEU Contributions

Newswise reported:

The 2013 American Academy of Arts & Sciences class includes Nobel Prize winner Bruce A. Beutler, philanthropist David M. Rubenstein, astronaut John Glenn, actor Robert De Niro and singer-songwriter Bruce Springsteen.

The Academy selected the new Fellows as a result of their preeminent contributions to their disciplines and society at large. The honorees will be formally inducted into the Academy on October 12 at its headquarters in Cambridge, Massachusetts.

"Election to the Academy honors individual accomplishment and calls upon members to serve the public good," said Academy President Leslie C. Berlowitz. "We look forward to drawing on the knowledge and expertise of these distinguished men and women to advance solutions to the pressing policy challenges of the day."

One of the nation's most prestigious honorary societies, the Academy is also a leading center for independent policy research. Members contribute to Academy publications and studies of science and technology policy, energy and global security, social policy and American institutions, and the humanities, arts, and education.
Philanthropist David Rubenstein, co-founder of The Carlyle Group, makes his money by levering, then streamlining companies.  This can involve dumping the worker pension, as Carlyle did in the case of RAC and Brintons, two British companies.

Private equity underwriter (PEU) Rubenstein just pledged $10 million to Thomas Jefferson's Monticello, a magnificent estate just outside Charlottesville, Virginia.

"The gift will significantly accelerate our progress to create the landscape of slavery along Mulberry Row." 

Jefferson became a PEU pioneer by borrowing heavily, using slaves as collateral.  Rubenstein and his PEU ilk contributed to America's shrinking middle class by exporting jobs overseas and stashing investment vehicles in foreign tax shelters.

Private equity's contributions to society at large are more like a cancer, something to be excised.  Instead Red and Blue politicians cater to this manipulative investment class, enacting tax laws, budgets and regulations to benefit their PEU sponsors..