Friday, January 20, 2023

Santos Horns in on Rubenstein's Territory

Fraudster Congressman George Santos cited his background as a digital private equity underwriter (PEU).  Carlyle Group co-founder David Rubenstein invested in crypto play Paxos through his family office Declaration Partners.  He frequently promoted crypto as enticing.  Last summer Rubenstein interviewed his peer Sam Bankman-Fried.  Neither disclosed they both had invested in Paxos.

Santos may already be a billionaire in his mind.  He is taking a page from Rubenstein by donating his salary to charity, his entire salary.  That should make voters nervous.  If he can afford to give away his salary, who is backing Santos?  This information is important to know given his checkered credit past.  

David Rubenstein may have another new peer, George Santos digital PEU and patriotic philanthropist.  It would certainly fit with Santos' fantastical ideations.  When can the peer-to-peer interview be arranged?

Politicians Red and Blue love PEU and increasingly, more are one.  This political cancer is metastasizing with George Santos.  Citizens can see it with their naked eye.

Update:  Americans for Financial Reform had this to say about PEUs and their policy making billionaire founders:

“This long-running perversion of finance allows private equity firms to profit even as they render the companies they control less competitive due to the burden of crippling debtThe contrast is striking. Private equity barons get richer at the expense of the economy that gets fewer jobs, less investment for the future, and lower wages as companies prioritize paying down debt, not growth.”

Update 1-21-23:  The National Republican Congressional Committee gave up publishing Rep. George Santos' lying bios.   The gay Brazilian drag queen firecracker is now just a plain cracker.  It's a new generation of Insane Red Team liar-ship.

Update 1-24-23:  Santos filed a new campaign finance report showing a $500,000 loan wasn't his personal money.  The question as to who is backing Santos remains unanswered.

Update 2-6-23:   There are questions regarding Santos use of donated funds to his pet "charity."

Santos boasted of his fundraising prowess, saying he was a financial money manager with connections. In reality, he had worked for a Turkey-based hospitality technology company, eventually moving on to work at a small company that organized conferences for investors and fund managers.