Sunday, April 6, 2008

Moneychanging Carlyle

The infamous, politically connected Carlyle Group bid on international money changer De La Rue according to the TelegraphUK. It plans to sell it cash systems business. Carlyle's employees include a who's who list of ex-government appointees and elected officials. They leverage those political contacts to land deals, earmarks, and launch public/private partnerships. The private equity underwriter could soon add De La Rue to their list of over 1,000 affiliates in a wide range of industries.

De La Rue, which has a market value of about £1.4bn and prints one in five of the world's currencies, is pursuing a sale of its other major division, which produces cash handling equipment and banking software.

It looks like moneychanging will ratchet up to a new level in our hallowed halls of government. I say toss them out, regardless of their red or blue affiliations. Carlyle added some high level blue talent this past year. They clearly wish to remain on the tit of the government industrial monstrosity, regardless of which franchise captures the electoral vote this November. Remember the popular vote doesn't matter. A pox on both their houses.

And those hallowed halls of government? They're lined with the modern day moneychangers, lobbyists, influence peddlers, and politically connected PEU's. It's time for some table tossing.