Just over a year ago Providence Journal reported:
Rhode Island remains unable to extricate itself from the private equity firm co-founded by Gov. Gina Raimondo before she entered politics, even though the state’s initial $5-million, 10-year commitment to Point Judith Capital expired years ago.
And, once again, the state appears to have no say in the matter.
The firm lists Governor Raimondo as General Partner Emerita. Biden's cabinet adds another private equity underwriter (PEU). President Elect Joe Biden's may be diverse but it has a PEU odor from the greed and leverage boys.
Politicians Red and Blue love PEU.
Update 1-8-21: President Elect Biden said Raimondo took on financial predators. Funny, she founded one.
Update 10-23-21: Biden's Commerce Chief entered the bowels of greed and leverage at The Milken Global Institute and said the following:
The opposition among some lawmakers – all Republicans as well as some moderate Democrats – to raising taxes on wealthy individuals is "almost religious fervor," said Secretary of Commerce Gina Raimondo at the 2021 Milken Institute Global Conference this week.
Milken, Rubenstein, Schwarzman et al created the PEU religion. They created the greed and leverage fueled fever. Raimondo should know given her PEU background.
Update 2-17-22: Matt Stoller@matthewstoller wrote·
Whoops looks like Commerce Secretary Gina Raimondo slipped on a banana peel and accidentally forgot to disclose $150k payment from the pharmaceutical industry.TweetSara Sirota@SaraLSirota · 1hPer newly available doc, Commerce Sec Gina Raimondo exercised $65 - $150K in stock at her husband's Big Pharma-backed biotech startup PathAI. Her initial financial disclosure form signed Jan '21 only mentioned his salary there, no options.
Private company equity stakes have long been a problem in federal financial filings.
The Red Team's custom news outlet spun this ethics lapse as a China conflict. Remember politicians Red and Blue love PEU. It's them they serve, not us.
Update 7-10-22: On Meet the Press Raimondo called the public "cranky" for giving feedback on the impact of inflation to elected leaders. It brought to mind Jared Kushner calling White House attorney resignation threats "whining." Both Raimondo and Kusher are PEUs, one Red, one Blue.
Update 1-4-23: Raimondo has been mentioned as a future Treasury Secretary should Janet Yellen move on.
Update 3-1-23: Bloomberg said Raimondo is the center of Biden's China policy.
Update 10-31-23: Forbes asked one contributor covering Raimondo to back off before stopping his articles altogether.
