Virginia citizens have their choice of a twenty year executive of The Carlyle Group or a Carlyle limited partner for their next governor.
Carlyle sent shiploads of U.S. automotive jobs to China during Glenn Youngkin's rise within the firm. While he was co-CEO Carlyle backed out of its lead developer role for Corpus Christi's deep water oil terminal. Youngkin's team gave no reason for bailing on this public-private partnership and its co-developer sued Carlyle for damages.
Terry McAuliffe characterized his investment in The Carlyle Group as "passive". Carlyle would call him a limited partner. America's royal political families, Bush and Clinton, spoke regularly at Carlyle investors meetings, not the unit holder kind. How many did Mr. McAuliffe attend? Did he make the 2013 investor meeting after Carlyle's IPO?
Glenn Youngkin was on the agenda as Carlyle's COO.
Youngkin spoke of his desire to please investors, like McAuliffe. The opportunity was for Youngkin to get more of McAuliffe's wealth invested in Carlyle.
Youngkin put his money to work inside Carlyle and likely had his in the same pot as his now gubernatorial competitor.
Red team voters should know they are voting for a globalist. Blue team voters should know McAuliffe's former boss, President Bill Clinton, gave Carlyle an early foothold by spinning of the federal department that conducted security investigations.
Either way Virginians are voting for a politically connected private equity underwriter (PEU). One is Red and one is Blue. They both love PEU.
Update 10-7-21: The Federalist reported "McAuliffe invested at least $690,000 in Carlyle funds between December 2007 and the end of 2016.” As the report later notes, “the actual figure is likely much higher because the disclosures require candidates to acknowledge only a broad range of investment with no upper limit in some cases.” McAuliffe was once board chair for Greentech Automotive, a failed electric car maker. Greentech failed to provide promised Mississippi jobs and was due to return public funding, similar to Carlyle's failed Texas jobs promise for Vought Aircraft Aviation.
Update 10-8-21: The Red-Blue PEU match is too close to call at this point.
Update 10-9-21: The Red-Blue PEU match included a debate over how much money LP McAuliffe made on his Carlyle investment. Both candidates endorse greed and leverage.
Update 10-10-21: Youngkin and McAuliffe personally benefited from their interactions with the Government-Corporate Monstrosity. Rabobank's Michael Every put it best: of course the Fed can redistribute wealth but "that redistribution has been from the poor and middle-class to the rich, not the other way round."
Update 10-16-21: Ex-Presidents Obama and Trump came out for their respective PEU candidate.
Update 11-1-21: The Blue L.P. chose not to lever Red PEU's exporting of U.S. jobs to China, instead tying him to former President Donald Trump and accusing him of racist dog whistles. A video shows the Red PEU to be a globalist, union partnering, ESG loving, diversity and inclusion dedicated executive who monitors rush hour in Beijing.
Meanwhile, the Blue Team has given yet another tax cut to the rich and can't seem to stop fighting over how it actually plans to help common people.
"No rate increases below $10 million, no capital gains increases, no estate tax increases, no major reform of loopholes like carried interest and real estate exchanges but restoration of the state and local deduction explain it."