Wednesday, February 22, 2012

CGI Brothers Clinton & Rubenstein at Ex-Im Bank Conference

President Bill Clinton and private equity underwriter (PEU) David Rubenstein will speak at the annual Export-Import Bank Annual Conference in April.  Clinton and Rubenstein frequent other gatherings of the wealthy and powerful.  Ironically, two share the initials CGI.

Bill Clinton - Clinton Global Initiative (CGI)
David Rubenstein - Carlyle Group Investors (CGI) annual meeting
President Bill Clinton helped Carlyle profit by privatizing the security investigation arm of the Office of Personnel Management in 1995.  This division became USIS, which turned into Altegrity.  Carlyle took its share of $1 billion in profit from their PEU exit.

Chelsea Clinton and David Rubenstein recently attended the World Economic Forum in Davos, Switzerland, where Rubenstein offered China's economic model as the panacea for America's financial ills.

The Export-Import Bank provided $32.7 billion in financing in 2011.   Carlyle knows how to tap the federal teat.  How many PEU affiliates got Ex-Im money last year?

Update 4-7-12:  This blast from the past shows how Clinton and Carlyle go way back.

Update 7-7-13:  CGI squared last fall.  This post ended up being predictive as Bill Clinton spoke at The Carlyle Group's Investor Meeting in September of 2012.   FT reported:

"Private equity groups compete with each other to host the most glitzy affairs and solicit the biggest names. Last September, Carlyle’s co-founder David Rubenstein led a question-and-answer session with Mr Clinton, who charges as much as $200,000, at its annual event."