How much sweeter will the next one be? Congress gave private equity underwriters (PEU's) a free pass under financial reform. For the fourth time, politicians kept PEU's preferred taxation on carried interest, which made this trend line more enriching.
The rabbit hole deepens as Carlyle & company ply the globe for riches, ironically driven by public pension funds needing greater returns to meet promised commitments. Carlyle has a history of taking public money and sending jobs elsewhere. How will this interaction keep American employment in the doldrums?
Expect Carlyle to have another great decade, as Uncle Sam sees PEU's as the answer to America's ills in banking, infrastructure, healthcare, and education. May yours be as sweet.