Carlyle Group: $16 Billion in Debt in 2008, Now Flush in Cash.
In September, 2008, the Carlyle Group went on CNBC and urged “fast approval” for W.’s multi-trillion dollar bank bailout. Their reason? So they could help taxpayers.
http://piggington.com/carlyle_group_urges_fast_approval_of_bailout_so_it_can_help_taxp
Excuse me for a second while I pick myself up off the floor where I have been laughing my ass off. The world’s biggest, baddest vulture group helping U.S. taxpayers? I think not. The only thing that Poppy Bush’s employers know how to help is themselves.
Last year, the Carlyle executives paid themselves huge bonuses. They paid their stock holders huge dividends.
http://www.guardian.co.uk/business/2012/jan/11/carlyle-founders-land-400m-payday
And yet, just a couple of years ago, Carlyle took a huge hit during the mortgage meltdown crisis. A huge hit that the mainstream media attempted to downplay as just a “egg” dropped on the kitchen floor. A $16.6 billion dropped egg.
http://www.reuters.com/article/2008/03/14/sppage012-n13616366-oisbn-idUSN1361636620080314?sp=true
That was one huge default. Lucky for Poppy Bush that his son created a massive media distraction in the form of the sacrifice of Bear Sterns at exactly the same time. For those who do not remember the Bush 1 administration, one of Poppy’s favorite ways to deal with bad news was to create a fire somewhere else and hope that the smoke kept the public from noticing his own raging inferno.
So, where did the Carlyle Group get the $16 billion that it needed to pay off its creditors? Where did they get the money to pay huge bonuses to their founders last year, when, just three years ago, they were circling the bottom of the toilet?
No one wants to say.
But plenty of people are speculating. Some think that the bailout of American International Group was an under the table bailout of the Carlyle Group.
http://www.nowpublic.com/world/feds-aig-bailout-henry-kissinger-carlyle-group-get-150billion
Where did the AIG bailout money go?
[div]”There are also undoubtedly non-bank beneficiaries to this bailout - and we’ll find out who they are eventually when they get named to the Forbes’ wealthiest people list (if the magazine is still in print) and their fortunes shadow Bill Gates and Warren Buffet combined but for the sake of maintaining this chaotic but survivable world we live in I would be indifferent to their success.”
http://santopoliti.tumblr.com/post/85240720/where-did-the-aig-bailout-money-go-what-they-dont
Yeah, that’s what I think, too.
Note that under intense pressure from the public and Congress, AIG released a partial list of where some of its bailout money went.
http://www.nytimes.com/2009/03/16/business/16rescue.html
Would love to have the complete list. Because I have a sneaking suspicion that Bush Jr. was not just setting up the world’s biggest political slush fund for the 2010 elections. He was also trying to save his Poppy’s company from shame and ruin.
Oh, and if you missed it, here is an old journal of mine from DU 2 called “The Carlyle Group is Run By Zombies That Want to Eat Your Brains”
http://journals.democraticunderground.com/McCamy%20Taylor/381
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