Friday, September 3, 2021

Carlyle's Rubenstein Hosts Elected Officials, Finds Cryptocurrencies Enjoyable

Carlyle Group co-founder David Rubenstein said he hosted members of Congress on a monthly basis prior to COVID-19 and hopes to restart that practice.  Rubenstein said elected leaders express relief at being able to talk and meet with members of the other party in a private setting.  

This is how a billionaire private equity underwriter (PEU) kept preferred carried interest taxation for over a decade.  It's also how Rubenstein influences government policy to benefit Carlyle and his family office, Declaration Partners.  It's PEU practice within the American experiment.

Rubenstein said he'd most like to have dinner with Thomas Jefferson, the man who pioneered using slaves as collateral for a loan.  Jefferson refused an inheritance that could have freed his slaves.  At Carlyle Rubenstein followed Jefferson's innovative use of debt. as a private equity underwriter.  On cryptocurrencies he said:

"I have not invested in cryptocurrencies myself.  I have invested in companies that service the industry."

Rubenstein believes people can take one, two or three percent of their portfolio and put it in cryptocurrencies.  "It's not harmful and you'll probably have an enjoyable time." (like Vegas).

He lamented American leaders not working together to solve problems as quickly as they could be tackled.  Mr. Rubenstein believes elected officials will soon work together to tackle a crisis.  He is in a position to know as one of America's premiere policy making billionaires.

Let me guess:  Congress will provide safe space for Rubenstein's cryptocurrency investment and he will keep his preferred taxation.  

Update 9-9-21:  A wealthy Virginian freed his slaves in 1791.   Jefferson refused the inheritance that could have freed his slaves in 1819.