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Posted on 07/08/2003 7:48:00 PM PDT by Willie Green
For education and discussion only. Not for commercial use.
Carlyle Group, the powerful investment house with close links to the Bush family, is facing acute embarrassment after the emergence of sardonic remarks the company founder made about the president.
In a talk to investors, David Rubenstein said George W Bush did little but tell dirty jokes while on the board of a company owned by Carlyle, and that he wouldn't have appeared in the top 25m people he would have suggested for president of the US.
Carlyle employs the first President Bush and a host of other luminaries including John Major and former US defence secretary Frank Carlucci. It has been the target of conspiracy theorists for its high-level political connections and its work as a defence contractor.
Mr Rubenstein said Mr Bush was hired to be a non-executive director of Caterair, the world's largest airline food business that Wall Street dubbed Craterair, in the early 1990s.
"Somebody came to me and said: 'Look there is a guy who would like to be on the board. He's kind of down on his luck a bit. Needs a job… could you put him on the board? Pay him a salary and he'll be a good board member and be a loyal vote for the management and so forth,'" he said in a speech to a Los Angeles pension fund.
Of Mr Bush's performance, he added: "He … came to all the meetings. Told a lot of jokes. Not that many clean ones. And after a while I said to him, after about three years: 'You know, I'm not sure this is really for you… because I don't think you're adding that much value. You don't know that much about the company.'"
Carlyle yesterday characterised the comments as "tongue in cheek". A spokesman said: "Carlyle was very happy to have Mr Bush on the board and he left to run for governor of Texas."
The remarks were made several months ago. A transcript appeared on several websites this week. Mr Rubenstein, a former adviser to President Carter, has built Carlyle into one of the largest private equity firms with assets of $16 billion.
He did not think Mr Bush would go far in politics, saying: "If you said to me, name 25m people who would maybe be president of the United States, he wouldn't have been in that category. So you never know. Anyway, I haven't been invited to the White House for any things."
Mr Bush's business background is somewhat controversial. He was investigated in the early 1990s for insider trading in Harken Energy shares by the Securities & Exchange Commission, but was not charged.
Carlyle hit the headlines after the terror attacks of September 11, 2001, when it emerged the estranged family of Osama bin Laden invested with the company. The family has since sold its small stake.
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FreeRepublic , LLC PO BOX 9771 FRESNO, CA 93794
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It is in the breaking news sidebar! |
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Hired...after he worked his way up through the ranks of the company. This is both halarious and tragic.
What else has to be said?
[snip]
Mr Rubenstein, a former adviser to President Carter...
Why is it newsworthy that a democrat who used to be an adviser to Carter would not have suggested a Republican for president of the US?
...and he wouldn't have included W in the top 25M candidates for President. It's possible that he lied about W, but it's doubtful he lied about his own actions...he just admitted that he breached his fiduciary duty in naming directors, and a guy he considered totally unqialified is serving as President, and doing a good job. His comments reflect more poorly on himself than W.
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Bush has been on a social program most of his life. It is a social program among the useless elite to support and patronize each other.
Well maybe, maybe not...
But please do me a favor and review the following thread: Aerospace Suppliers Object to 'Buy American' Provision in Visit to Hill, keeping in mind that Vought Aircraft is owned by The Carlyle Group.
Sure. I publicly slander people all the time but it's only "tongue in cheek."
| this has "CRAP" written all over it.
I can't imagine the chairman of a company with defense contracting interests around the world insulting the President of the United States. I can't imagine the chairman of a company which has Bush-41 on its board insulting the man's son in public. I can't imagine the chairman of a company that deals in political clout pissing off a family that has two Presidents and a Governor in it. None of this makes any sense; it is not behavior that I can see anyone in his position engaging in. |
[Sorry WG. I just couldn't resist a small dig :^) ]
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It is certainly bizarre. I'm almost inclined to believe the story that it was tongue-in-cheek... that he intended for the audience to laugh at this, like it was a 'roast.' The last line seems to suggest that.