HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Main » General Discussion (Forum) » Is David Petraeus Dirty? ... » Reply #58
Introducing Discussionist: A new forum by the creators of DU

Response to AzDar (Reply #7)

Sat Nov 10, 2012, 12:40 PM

58. How War Made the Bush Family Rich

The original title above at TheInternationalCoalition blogspot was in all-caps:

EXCERPT...

Baker & Carlyle Hard At It

Baker and Carlyle have been hard at it behind the scenes, profiting in ways so blatant that a secret deal revealed by The Nation magazine (and since reported in most major newspapers) gives a whole new meaning to the term war profiteering.

SNIP...

Well that was then and this now. According to confidential documents obtained by The Nation, including a 65-page proposal to the Kuwaiti government, Carlyle has sought to secure a $1 billion investment from Kuwait using Baker's influence as debt envoy. The secret deal involved a plan to transfer ownership of up to $57 billion in unpaid Iraqi debts owed to Kuwait.

The debts would be assigned to a foundation created by a consortium in which the key players are the Carlyle Group and the Albright Group, headed by former secretary of state Madeline Albright, along with several other well-connected firms.

So it boils down to this, the Carlyle Group was engaged in lobbying to secure Iraq's debt at the same time that Baker was asking the world to forgive those debts. Under the deal, Kuwait would give the consortium $2 billion up front to invest in a private equity fund, with half of it going to Carlyle.

The Nation showed the documents to Jerome Levinson, an international lawyer and expert on political and corporate corruption at American University. He called it "one of the greatest cons of all time. The consortium is saying to the Kuwaiti government, 'Through us, you have the only chance to realize a substantial part of the debt. Why? Because of who we are and who we know.' It's influence peddling of the crassest kind."

Kathleen Clark, a law professor at Washington University and a leading expert on government ethics and regulations, told The Nation, that this means Baker is in a "classic conflict of interest. Baker is on two sides of this transaction: He is supposed to be representing the interests of the United States, but he is also a senior counselor at Carlyle, and Carlyle wants to get paid to help Kuwait recover its debts from Iraq." She said, "Carlyle and the other companies are exploiting Baker's current position to try to land a deal with Kuwait that would undermine the interests of the US government."

Just listen how they described The Carlyle Group, "a private equity team, has earned its reputation by successfully consummating deals at the intersection of politics and finance, with its roster of political stars, including, among others, former US Secretary of Defense Frank Carlucci, former British Prime Minister John Major, and until recently, former US President George Bush."

I like that "stars." Is that kind of like Hollywood stars except they are from Washington?

The document goes on to state: "The extent to which these individuals can plan an instrumental rule in fashioning strategies is now more limited ... due to the recent appointment of Secretary Baker as the President's envoy on international debt, and the need to avoid an apparent conflict of interest." Yet it goes on to say that this will soon change: "We believe that with Secretary Baker's retirement from his temporary position, that Carlyle and those leading individuals associated with Carlyle will then once again be free to play a more decisive role..." according to The Nation.

CONTINUED...

http://theinternationalcoalition.blogspot.com/2011/06/how-war-made-bush-family-rich.html

As you know, AzDar, the Carlyle Group was an investor in USIS, United States Investigations Services, the contractor with which Col. Westhusing had "problems." Thank you for standing up to them, my Friend.

Reply to this post

Back to OP Alert abuse Link to post in-thread

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 79 replies Author Time Post
Octafish Nov 2012 OP
silvershadow Nov 2012 #1
Octafish Nov 2012 #5
sabrina 1 Nov 2012 #13
Octafish Nov 2012 #54
reusrename Nov 2012 #57
Octafish Nov 2012 #73
ailsagirl Nov 2012 #32
riderinthestorm Nov 2012 #40
ailsagirl Nov 2012 #45
Octafish Nov 2012 #75
ailsagirl Nov 2012 #76
patrice Nov 2012 #66
patrice Nov 2012 #67
msanthrope Nov 2012 #9
hootinholler Nov 2012 #2
Octafish Nov 2012 #10
HangOnKids Nov 2012 #23
hootinholler Nov 2012 #41
hootinholler Nov 2012 #44
riderinthestorm Nov 2012 #17
TBF Nov 2012 #38
hootinholler Nov 2012 #42
TBF Nov 2012 #46
flamingdem Nov 2012 #3
Octafish Nov 2012 #15
Judi Lynn Nov 2012 #4
Octafish Nov 2012 #47
Hydra Nov 2012 #6
Octafish Nov 2012 #74
AzDar Nov 2012 #7
LineLineReply How War Made the Bush Family Rich
Octafish Nov 2012 #58
snagglepuss Nov 2012 #8
malaise Nov 2012 #11
WinkyDink Nov 2012 #12
riderinthestorm Nov 2012 #16
sibelian Nov 2012 #56
glinda Nov 2012 #14
riderinthestorm Nov 2012 #18
LongTomH Nov 2012 #19
ciking724 Nov 2012 #28
Octafish Nov 2012 #50
marlakay Nov 2012 #60
Autumn Nov 2012 #20
GeorgeGist Nov 2012 #25
Autumn Nov 2012 #26
Spitfire of ATJ Nov 2012 #21
PowerToThePeople Nov 2012 #22
nashville_brook Nov 2012 #24
patrice Nov 2012 #27
nashville_brook Nov 2012 #55
patrice Nov 2012 #59
marlakay Nov 2012 #62
patrice Nov 2012 #64
amborin Nov 2012 #29
99th_Monkey Nov 2012 #30
OnyxCollie Nov 2012 #31
2on2u Nov 2012 #33
Ikonoklast Nov 2012 #34
Samantha Nov 2012 #35
Missn-Hitch Nov 2012 #36
Cracklin Charlie Nov 2012 #37
NuttyFluffers Nov 2012 #39
dixiegrrrrl Nov 2012 #43
Ichingcarpenter Nov 2012 #48
ancianita Nov 2012 #49
OldDem2012 Nov 2012 #51
UTUSN Nov 2012 #52
raouldukelives Nov 2012 #53
tabasco Nov 2012 #61
reusrename Nov 2012 #63
patrice Nov 2012 #65
patrice Nov 2012 #68
proverbialwisdom Nov 2012 #69
Octafish Nov 2012 #72
Mojorabbit Nov 2012 #70
MinM Nov 2012 #71
Hey There2 Jan 2014 #77
Hey There2 Jan 2014 #78
Octafish Jan 2014 #79
Please login to view edit histories.