Thursday, May 13, 2021

Biden's CyberSecurity Nominee Inglis is a PEU


Chris Inglis is President Biden's nominee for National Cyber Director.  He's also is a private equity underwriter for Paladin Capital.

Inglis joined Paladin Capital in 2014 and had six years to invest alongside Paladin's limited partners.  Those investments are private and difficult to shed.  

Inglis serves on two private boards, Blackpoint and Securonix, as well as two public companies, FedEx and Huntington Bankshares.

Biden's cabinet is chock full of PEUs.  The greed and leverage boys identified political connections as a way to make big money.

President Obama's health reformer, Nancy-Ann DeParle, came from the PEU world and returned to it afterwards.  Her financial disclosure omitted any residual PEU investments, yet a payout from MedQuest, appeared years into her public service.  

If approved as National Cyber Director how will Inglis divest himself of difficult to flip private equity holdings. Will he be paid for residual stakes years into his public service like Obama's health reformer?

Politicians Red and Blue love PEU.  And PEUs love what politicians can do for them. Uncle Sam's wallet is good for spending.  However, the greed and leverage boys are loathe to fill it with a slice of their massive profits.