What are the odds that a small Washington, D. C. based private equity underwriter would have two partners on President Elect Joe Biden's cabinet? That very thing happened with the nomination of General Lloyd Austin for Defense Secretary. Biden already nominated Antony Blinken for Secretary of State.
Two of the top four cabinet slots are occupied by PEU boys. Chief of Staff Ron Klain is a PEU.
The greed and leverage boys prioritized interest on debt over raises and benefit improvements for the last three decades. The PEU class administered the raw deal so many American employees got while founders multiplied their billions.
The combined wealth of U.S. billionaires surpassed $1 trillion in gains since March 2020 and the beginning of the pandemic, an increase of over 34 percent.
Politicians Red and Blue love PEU.
Update 12-9-20: Yahoo Finance noted the Pine Island Capital connection as well as Biden's appointment of several BlackRock executives to key positions in his administration. A lot of Blue PEU love is going around..
Update 12-26-21: Tom's Dispatch lamented the litany of PEU generals like KKR's David Petraeus but missed Lloyd Austin's PEU pedigree.
