ZeroHedge reported on a White House dinner with Wall Street executives to be held this evening. The guest list includes private equity underwriters (PEU):
Invited guests include JPMorgan Chase CEO Jamie Dimon, Nasdaq’s Adena Friedman (formerly with The Carlyle Group), Blackstone’s Stephen Schwarzman, Morgan Stanley’s Ted Pick, BlackRock’s Larry Fink, and Goldman Sachs’ David Solomon.Bankers and investors back Trump’s pro-growth agenda but remain uneasy about his tariffs, trade volatility, and pressure on the Federal Reserve.
Current Fed Chair Jerome Powell also worked for The Carlyle Group before moving on to another PEU. Trump nominated Powell for the job in his first term as President.
Possible Fed Chair nominee to replace Powell is Kevin Hassett. Kevin also has a PEU background having worked for Affinity Partners, Jared Kushner's PEU.
Hassett received a $192,040 salary for his work with Affinity Partners. Simultaneously, Kevin worked for the Milken Institute as Managing Director with a salary of $234,312.
Founder Michael Milken branded leveraged buyout organizations (LBO), which is former name for what is now called private equity. Trump pardoned Milken, absolving the convicted Junk Bond King of his crimes.
Hassett received a salary from six other organizations, according to his financial disclosure form. Between the eight employers Hassett received $763,045 last year.
This is how the insider money funnel works. Big sums are thrown at the politically connected by multiple employers, each not expecting full time work production.
Politicians Red & Blue love PEU and their new TechGod/CryptoBro brethren. Increasingly, more are one.
