Monday, September 19, 2011

CGI Week

Political heavyweights spoke at The Carlyle Group Investors (CGI) meeting.  This year's crew included the familiar James A. Baker, III.  Baker helped court Saif Gadhafi on behalf of Carlyle in 2008.  Mr. Baker's name wasn't mentioned among those who legitimized the Gadhafi regime.

Joining Baker in this year's Carlyle soiree were:

Robert M. Gates
Erskine Bowles
Alan Simpson

Erskine Bowles is looking to grow another fortune.  Hopefully, his Carlyle paycheck will help.  Might Erskine invest in Carlyle or would that be a no-no for the Senior Advisor of Carousel Capital?

Carlyle's founders bragged on their performance:

The firm told investors that 2011 is shaping up as one of its best years ever.

Rest assured wealthy ex-pols and campaign donors won't stand for a tax increase on the rich.  President Obama can spout all he wants.  Congress sets tax policy.  This is a PEU Congress.  PEU stands for private equity underwriter.

I'm curious as to how many Carlyle Group investors/speakers end up at the Clinton Global Initiative, the other CGI.  Madeline Albright spoke at the 2010 Carlyle event.  She's a featured guest at the 2011 CGI.  There's a relatively small, well heeled crew jetting between D.C. and New York this week.  Rest assured, they're going by private plane.

There is no class warfare.  The rich and connected won, wallets down.

Update 3-23-22:   Madeline Albright died today.  Cancer took her life at the age of 84.