Saturday, April 30, 2022

Milken, Manchin and Marks: PEUs Have Taken Over

The crowning event on the last day of the Milken Global Conference is founder Michael Milken's interview of Oaktree Capital Management co-founder Howard Marks. They will discuss six decades of financial innovation, marked by the proliferation of private equity underwriters (PEU).  "Junk Bond King" Milken is considered a PEU founding father.

PEUs proliferated since 2000 under both Red and Blue White Houses.  Victory Park Capital was founded in 2007.  Former Senator and Vice Presidential candidate Joe Lieberman joined Victory Park as Chairman of its Executive Board in January 2014.  

This evening Blue Team Senator Joe Manchin will be attending a private event in the Los Angeles home of Howard Marks, co-founder of investment fund Oaktree Capital Management.  The event is sponsored by No Labels.  

No Labels National Co-chair is Senator and PEU Joseph Lieberman.

Politicians Red and Blue love PEU and increasingly, more are one. These Joes know it well.  Joe Manchin will be richly rewarded by the greed and leverage boys when he retires from Congress.

Update 5-3-22:  The Milken crowd believes there is only one way to solve the problems of the world, by their profiting grotesquely.

Update 5-5-22:  The Lever reported "Politicians have cut secret deals funneling retirees’ savings to financial firms — but new legislation would finally let the public see the details." 

Update 7-15-22:  Manchin keeps watching billionaire backs by opposing tax increases on the super wealthy.  Manchin is a hero to the PEU boys.  Many of Trump's billionaire backers are now supporting Manchin.

Update 7-18-22:  Manchin canoodles with billionaires to raise $1 million.  Serving the people who live outside West Virginia as Manchin's state has no billionaires. 

Updated 8-28-23:  Former Sen. Joe Lieberman said Sunday the No Labels group intends to select a presidential ticket in April in Dallas.  Lieberman is the founding chair of No Labels.