Politico reported on a podcast from Ted Kaufman, the head of President Elect Biden's Transition Team. Former Senator Kaufman spoke with David Marchick, the Director of the Center for Presidential Transition. Marchick is a former Managing Director and Global Head of External Affairs for The Carlyle Group. a politically connected private equity underwriter (PEU) .
Mr. Marchick spent 12 years at the Carlyle Group and most recently served as Managing Director and Global Head of External Affairs and as a Member of Carlyle's Management Committee. He led Carlyle's regulatory and government affairs, communications and branding, and sustainability efforts.
The Biden Team has a PEU Chief of Staff, Defense Secretary, Climate Czar and Secretary of State. Carlyle's Frank Carclucci was once a Defense Department Chief. In the old days PEUs went from government service to private equity. Now they go from the greed and leverage boys to public service. That doesn't ring right.
The Advisory Board for the Center for Presidential Transition is chock full of PEUs. Nearly all the top positions are tied to the greed and leverage boys in some manner. People is policy, especially when politicians Red and Blue love PEU.
Update 3-14-21: The PEU boys got a mention in Senator Sherrod Brown's Wall Street vs. Workers speech.
Update 7-16-22: American University and just hired former Carlyle Group Managing Director David Marchick as Dean of AU's business school.