Wednesday, September 11, 2013

Hillary, Jamie & Lloyd Play Carlyle

Bloomberg reported on the headline act in Washington, D.C. earlier this week.  Hillary Clinton was already on tap to speak to Carlyle's PEU investors:

Jamie Dimon, 57, also joined Goldman Sachs Group Inc. (GS) CEO Lloyd C. Blankfein, 58, at a client event hosted by Carlyle Group LP (CG) yesterday, according to three people with knowledge of the matter. More than 1,000 guests attended, the person said. 

Those 1,000 guests are not Carlyle's common shareholders, but clearly the class above. CNBC reported:

The gulf between the richest 1 percent and the rest of America is the widest it's been since the Roaring '20s

The very wealthiest Americans earned more than 19 percent of the country's household income last year—their biggest share since 1928, the year before the stock market crash. And the top 10 percent captured a record 48.2 percent of total earnings last year. 

U.S. income inequality has been growing for almost three decades.
Private equity underwriters and Wall Street Mavens are today's Robber Barons.  They're ably aided by politicians, both Red and Blue