Private equity underwriters (PEU) are behind the rise of financialization, debt-fueled speculation and globalization that has enriched the rich since 1984. Bain Capital was established that very year. Pete Peterson and Stephen Schwarzman started Blackstone in 1985. The Carlyle Group began in 1987. Leon Black founded Apollo in 1990 while David Bonderman started TPG in 1992.
Fox News contributor Tucker Carlson spoke on America's mercenary leaders who don't bother to understand our problems.
Romney spent the bulk of his business career at a firm called Bain Capital. Bain Capital all but invented what is now a familiar business strategy: take over an existing company for a short period of time, cut costs by firing employees, run up the debt, extract the wealth, and move on, sometimes leaving retirees without their earned pensions. Romney became fantastically rich doing this. Meanwhile, a remarkable number of those companies are now bankrupt or extinct. This is the private equity model. Our ruling class sees nothing wrong with it. It’s how they run the country.Both of America"s political teams cater to the PEU class. Tucker's Red Team has long served the greed and leverage boys. The Blue Team began its PEU lean-in under President Bill Clinton. For decades both parties grovelled to the Billionaire boys club which recently met in Davos, Switzerland.
PEUs paid ex-U.S. Presidents hefty sums for an hour long talk at their annual accredited investor meeting. Publicly traded PEU unit holders were not invited.
Carlyle Group co-founder Daniel D'Aniello wants every citizen to have a PEU investment. He recently said:
“You’re talking about retail investors coming into the asset class, and that could eventually occur; everybody’s working on the formula for it."The article called it "democratizing private equity." That statement is patently laughable. It's made even more so by PEUs not giving unitholders a vote, as Carlyle did after it went public..
The PEU model infected our country. It will take strong medicine to drive that toxin away. Neither party is able to address toxic PEUs.
