Retired General and Brookings Institute Chief John R. Allen is under investigation for actions private equity founders conduct as regular course of business.
Allen allegedly lobbied U.S. officials to help Qatar in 2017 amid a diplomatic crisis between the monarchy and its neighbors while “simultaneously pursuing multi-million dollar business deals with the government of Qatar,” violating the Foreign Agents Registration Act [FARA].
Carlyle Group co-founder and nonlobbyist David Rubenstein hosts regular meetings with elected officials in Washington, D.C. Every U.S. President since Ronald Regan met personally with Rubenstein and many received huge fees from speaking at Carlyle's annual investor meeting.
Rubenstein said this about the World Economic Forum meeting, attended by giants of commerce and government officials from around the globe.
Davos is relevant because people are still coming....people are coming because when you can go and in one place see the CEOs and heads of state of so many different places it's a good thing. It's very convenient. So if I wanted to see some of the people here I would have to go spend six months going around and meeting all these people. Now I can meet them in a couple days here. So it's very relevant.
Rubenstein is there to do billion dollar deals and influence government policy. As a nonlobbyist Rubenstein descended multiple times on Capital Hill to save private equity's preferred "carried interest" taxation. Legend has Rubenstein getting a phone call from a U.S. Senator saying the tax dodge was safe once again.
I'm not saying General Allen did not do something bad or criminal. I am saying it's a regular course of business within Larry Summers' insider class of billionaire policy makers. It's American Leadership in the 21st Century.
Update 9-17-23: Prosecutors dropped the investigation into John Allen's influence peddling on behalf of Qatar, however Richard G. Olson was "sentenced to three years of probation and ordered to pay a $93,350 fine
Friday for improperly helping a wealthy Persian Gulf country influence
U.S. policy and for not disclosing gifts he received from a disgraced
political fundraiser." Another PEU who helped push the Qatari narrative is PEU General Wesley Clark.
