Sunday, September 23, 2007

Speaking Out on PEU's

Somebody voiced their concern about America's coddling of private equity underwriters (PEU), specifically the politically connected Carlyle Group whose three founders sit on the list of the 400 richest people. With the recent sale of 7.5% of the firm to a Dubai government controlled company for $1.35 billion, how much richer will David Rubenstein, William Conway and Daniel D'Aniello get? And how did they avoid public scrutiny in selling two aircraft operation companies to Dubai Aerospace when the ports sale raised such a ruckus? While people clamour about the United Arab Emirates owning part of the NASDAQ Stock Market, a chunk of a huge American PEU is sold. The times are odd and growing odder every day.