Wednesday, February 29, 2012

Rubenstein's Tired Refrain

Carlyle Group co-founder David Rubenstein might have shouted this comment in Davos, Switzerland, years ago and the press just tuned into its echo.  This is his worn line:

"We need to do a better job of explaining what we do."
Rubenstein went on to say:

"No one wants to work in an industry that most people don't like," Rubenstein said, suggesting that only Congress and bankers enjoy less popularity than does private equity."

More people know about Congress and Banksters. Private equity underwriters (PEU's) are a new phenomenon for the mainstream press given Mitt Romney's time with Bain Capital. However, PEUReport chronicled private equity machinations over six years.

Rubenstein offered his remarks in a keynote speech at the SuperReturn International conference in Berlin.  Rubenstein enjoyed regular access to Congress and the White House.  President Obama just caved for PEU founders, like Rubenstein, to cash in their billions at a deeply discounted tax rate.

David Rubenstein will be one big draw in D.C. for the upcoming CES on The Hill event.  The Carlyle Group's Rubenstein is quite popular for a top dog in a hated industry.