PEU Lover Bill Clinton

The American people were subject to former President Bill Clinton last night.  Jeffrey Epstein's close friend spoke at the Democratic National Convention. Clinton, slayer of Glass-Steagall, allowed greed and leverage to overtake our country.  He did his part by privatizing government services.  After his presidency Clinton joined Yucaipa, a private equity underwriter (PEU). 

Consider what Clinton said to fellow sexual predator Harvey Weinstein in June 2012.

“If you go in and try and save a failing company…you can go into a company, have cutbacks and make it more productive with the goal of saving it, and when you try, like anything else you try, you don’t always succeed…so I don’t think that we ought to get into the position where we say this is bad work. This is good work.”

Clinton worked for consulting firm Teneo, bought by BC Partners in 2015.  PEU BC Partners flipped its stake to CVC Capital in 2019. FT reported

Former US president Bill Clinton became honorary chairman although he left in 2012.

Chairman roles usually come with an equity stake. 

The Clinton Foundation ran Fondo Acceso, a private equity firm in Colombia   It took a week for the PEU to disappear from the internet after news became public.

A Guardian columnist lamented Clinton's speaking role:

Along with George W Bush and Ronald Reagan, it’s Clinton who is to blame for the hollowing out of America over the last 30 years. 

A former business reporter wrote this blog in July 2011:

I have seen so many people -- particularly those in their 50s - 70s -- taken apart by what has happened in their industry as greed has hollowed out the economy. These are people took pride in their jobs and held themselves to this invisible standard that we all just took for granted, but is being wiped out.
The Carlyle Group scares me more than anything I've ever seen on Wall Street. It seems to exist to corrupt politicians and it's hard to know who they even represent.

Politicians love private equity.  The greed and leverage boys return the favor.  The Clintons headlined The Carlyle Group's annual investor meeting of limited partners.  Bill spoke in September 2012 and Hillary got the 2013 gig. 

Bill received $250,000 for a speech for PEU Apollo Global as Hillary ran for President.  He served as honorary chancellor for KKR owned Laureate Education for a cool $17.6 million. 

President Clinton's being front and center last night is a sign that the raw deal for many won't end anytime soon.  Insiders have done and will continue to do quite well.