Sunday, October 11, 2020

Milken Global Institute Starts 10-12

The Milken Global Institute, the U.S. version of Davos, begins tomorrow.  This is the first gathering since President Donald Trump pardoned junk bond king Michael Milken.  The theme is "Meeting the Moment."  How can those in positions of power continue to steer the system to their advantage during dual crises, a global pandemic and racial injustice?   That is the unstated objective of most Institute sponsors.  Two Institute sponsors recently admitted to breaking the law, Citadel and Citigroup

Politicians Red and Blue love PEU and the speaker list is full of high profile Republicans and Democratic names.  The Red Team has Treasury Secretary Steve Mnuchin, Education Secretary Betsy DeVos, FDA Chief Stephen Hahn and Republican political advisor Frank Luntz.  The Blue Team has a broader showing with John Kerry, Senators Mark Warner and Chris Coons, Congressman James Clyburn, and former Obama officials Eric Holder and Susan Rice.

Carlyle Group CEO Kewsong Lee will be in a panel on "Leadership:  Moving Beyond Conventional Thinking".  Moderator Andy Serwer will tackle:

Even before the pandemic, the need for agility and constant innovation had become evident as technology disrupted every sector. How can you foster entrepreneurial spirit within corporate structures and ensure creative destruction? And how can leaders motivate others to embrace the need for constant transformation?

The Carlyle Group schooled on COVID-19 via its Chinese medical holdings and began to compile a coronavirus portfolio in February.

Carlyle affiliates can conduct retrospective studies on COVID-19 (TriNetX), disinfect surfaces (Victory Innovations), screen airports for people with fever (Schneider Electric & HGH), test for COVID antibodies (Ortho Clinical), assist with blood plasma collection (MAK Systems), produce antibody drug conjugate (Piramal Pharma Solutions), ensure the maximum hospital bill for COVID-19 patients (TrustHCS), manufacture Ivermectin treatment (SeQuent Scientific) and make federal coronavirus purchasing something other than a clown show (Unison).  Coronavirus tea leaves suggest more PEU profits to come.

The Milken Global Institute will continue enriching the rich and empowering the powerful.  It's the PEU way.

Update 10-13-20:  Apollo founder Leon Black sent a letter to investors expressing his regret for associating with Jeffrey Epstein. 

Update 10-14-20:  Treasury Secretary Mnuchin commented on the stimulus package delay from Milken Global Institute.  Dealbook reported how private White House meetings helped the greed and leverage boys make big money as the pandemic hit the U.S.

Update 10-17-20:  Vista Equity founder Robert Smith reached a $140 million settlement with the Justice Department for tax evasion.  More greed from the PEU boys.

Update 10-28-20:  More problems at Vista Equity Partners from the firm's PEU ways.  Fed money for Main Street goes unused as the PEU boys run dividend recaps on affiliates, debt for sponsor dividends.  Insider trading is rampant with no accountability or oversight.

Update 12-31-21:  A jury found Epstein accomplice Ghislaine Maxwell guilty of sex trafficking underage girls. She may now have an incentive to turn over Leon Black, Bill Clinton, Tony Blair, Prince Andrew and other high profile sexual predators.

FT's report on Milken's meeting is nearly cringe-worthy.  Found it while looking to see if Milken ever flew on Jeffrey Epstein's plane.

Update 3-6-22:  Vista Equity's Robert Smith played a larger role in the $2 billion tax avoidance scheme by his partner.