The Carlyle Group needs a mere $1.1 billion more in assets under management to reach $200 billion. This development comes as private equity underwriters come under pressure for illegal or unethical fees. Even the industry trade group, which I refer to as PECKER, declined to comment. PECKER stands for Private Equity Capital Knowledge Executed Responsibly. It's easier to remember and pronounce than PEGCC. PEGCC's Ken Spain has multiple fires to put out at the moment. Good thing he has that lobbying Flak Jacket. Surely he can defend the indefensible.
If not Ken Spain, then who? How about Carlyle Group co-founder David Rubenstein, newly appointed chair of the Library of Congress advisory council. He has repeatedly defended the indefensible.