Sunday, August 7, 2022

Biden Nominates Infrastructure DOE PEU


President Biden nominated David Crane, an operating executive with Pegasus Capital Advisors since April 2016.  Crane's White House bio omits this key position while the Yale Center for Business and the Environment highlights Crane's role as a private equity underwriter.

Not disclosing private equity conflicts is a longstanding practice of Red and Blue White Houses.

Also not mentioned by the Biden White House:

Mr. Crane also serves on the board of directors of the Saudi Electricity Company, the national electricity company of Saudi Arabia.

The general public may or may not be interested in The White House appointment of a private equity executive connected enough to the thuggish Saudi government to garner a board appointment. 

However, they should have an inkling something is not right as the greed and leverage boys have kept their preferred "carried interest" taxation for the last fifteen years in direct opposition to public will.

Politicians Red and Blue love PEU and increasingly, more are one.

Update 8-8-22:  Robert Reich believes Biden's big vision (yet to be revealed) could cast aside the Blue Team's sellout to high dollar donors. It's hard to swallow given the Biden team's reliance on PEUs.