Carlyle Group co-founder David Rubenstein wouldn't weigh in publicly when Congress played its latest game of economic chicken. Yet, he somehow found his voice in an AP interview:
Q: What was your reaction to the 16-day government shutdown and the near breach of the nation's debt ceiling?The Founding Fathers didn't hope. They designed a government that has been co-opted by power, greed and influence. America's democracy serves Rubenstein's PEU class. (PEU is my abbreviation for private equity underwriter)
A: I am relieved that the shutdown and debt ceiling crisis are behind us. Hopefully something like this will not occur again. But I am disappointed, saddened and embarrassed for our country that our democracy did not work as the founding fathers had hoped.
Any doubts can be dispelled by looking at the Red and Blue teams' major funders and employment of ex-politicians. Drop a lure in the ex-public servant water and you're bound to snag a private equity top-sucker or bottom-feeder.
Q: What should Congress tackle first — now that the debt ceiling and shutdown is resolved?Spur economic growth means tax cuts for corporations, which PEU's own. Private equity firms are treated as nonprofits by the same Congress that calls nonprofit community hospitals "tax exempt facilities." Using similar logic, PEU's should be called "tax exempt corporate flippers" or "slave makers."
A: They should try to reassure the country — and the world — that the last few weeks were an aberration and not likely to be repeated early next year. Once that re-assurance occurs, focus on how to spur economic growth — while reducing economic disparity — (which) would be a great plus for everyone.
PEU flippers contributed greatly to America's economic disparity growth over the last twelve years. They cut or eliminated pensions, sent jobs overseas, eliminated traditional middle class jobs and loaded affiliates with debt to pay themselves millions in dividends.
Elected officials need to land on someone's teat to feed their greed and power addictions. Rubenstein knows this and chose Washington, D.C. for Carlyle's corporate headquarters. Carlyle employed legions of Red and Blue team members. They worked tirelessly to grow Rubenstein's billions, which he nobly will give away via "patriotic philanthropy," while detesting every tax he spies.