Monday, October 12, 2015

Political Fundraising: Jeb + W. = PEU Riches

Bloomberg reported:

Former President George W. Bush will return to the nation's capital this month to host a fundraiser for his younger brother, Jeb, who is trying to become the next family member to win the presidency.

The former president will host a fundraiser in Washington, D.C., on Oct. 29—the day after the third Republican presidential debate—at the home of Paul Horvath, chief executive officer of Orchard Global Capital Group, according to a copy of the invitation.

The host committee for the reception includes Andy Card and Josh Bolten, both chiefs of staff for the former president; former U.S. Secretary of Commerce Carlos Gutierrez; and Glenn Youngkin, president and chief operating officer of Carlyle Group, Inc., a Washington-based investment firm.
Jeb wants to be the latest Bush to help The Carlyle Group profit obscenely from their greed and leverage ways.  W's and Jeb's helpers include Andy Card  who sits on the board of Union Pacific alongside another Carlyle Group senior executive and former Presidential Chief of Staff, T.F. "Mac" McClarty.  Both helped delay important safety advances that can prevent runaway train accidents.

Card also sat on the board of Lorillard, the tobacco giant recently acquired by Reynolds American.  Josh Bolten sits on the board of Emerson Electric.  His bio shared Bolten is "Co-Founder and Managing Director of Rock Creek Global Advisors, LLC, an international advisory firm" and a Member of the International Advisory Board of BP plc. and helped BP manage its image in its Gulf of Mexico Oil Spew.

Bush Red Carlos Gutierrez is Chair of Albright Stonebridge Group, which has Clinton Blue Madeline Albright as founder.  He also sits on the boards of MetLife, Occidental Petroleum and Time Warner.

What about the host of the Jeb fundraising soiree?  His firm's product portfolio includes ChapelGate, EleganTree and Black Fores.  Each brings to mind an era of serfdom.  Here's his bio:

Paul D. HorvathChief Executive Officer 
Mr. Paul Horvath is Group Chief Executive Officer for Orchard Global Capital Group. Prior to co-founding the firm, Mr. Horvath was Global Head of Synthetic Credit Origination, Structuring and Distribution at Merrill Lynch from 2005 to 2008. From 1999 to 2005, Mr. Horvath was Global Co-Head of Structured Credit Distribution at JPMorgan, where he helped to grow the nascent credit derivatives market
He's looks more like a parasite than a host. Welcome to our world, where politicians red and blue love PEU.  It's toxic and fully bipartisan. This group is raising money for Jeb but it's clearly not to help people.  They help themselves.