Monday, March 20, 2023

Rubenstein Honors Adam Sandler

Carlyle Group co-founder David Rubenstein honored comedian Adam Sandler with the Kennedy Center's Mark Twain Prize.  

Sandler reflected on playing unlucky characters – a common theme in movies.  "Oh man, I always liked them growing up," said Sandler."I liked pulling for somebody who needed something. I relate to all different types of people, but I enjoy playing these guys who are struggling. I like that."

Kennedy Center Chairman Rubenstein has been unlucky of late.  Cryptocurrency play Paxos had a rough time after FTX's failure. Add Carlyle's executive turnover hurt fundraising.

Rest assured Mr. Rubenstein is using his legendary political connections for a better Paxos future to bolster his family office investment.  

As for Mark Twain he had a few things to say about the wealthy:

How unfortunate and how narrowing a thing it is for a man to have wealth who makes a god of it instead of a servant.

What is the chief end of man?--to get rich. In what way?--dishonestly if we can; honestly if we must. Who is God, the one only and true? Money is God. God and Greenbacks and Stock--father, son, and the ghost of same--three persons in one; these are the true and only God, mighty and supreme...

Private equity underwriting (PEU) with its excessive greed and leverage is the answer to all of societal ills.  That alone should be comical.  Politicians Red and Blue love PEU and increasingly, more are one.  The comedy grows ever darker.