Thursday, August 18, 2005

Truth about WAR!!!

Well some say that war is bad but but but for a company named The Carlyle Group in US, it been very bright days and it sees brighter days ahead because United States now has plans to invade Iran, Syria, Egypt, North Korea, etc etc etc.
Established in 1987 the Carlyle Group was founded by David Rubenstein, a former staff member in the Jimmy Carter White House, and his two partners, Dan D'Aniello and Bill Conway. Today there are 18 partners in the firm and one outside investor. The Washington Post has described Carlyle as a "merchant banking firm" set up "to serve corporations and wealthy families." From the beginning the founders of Carlyle have recruited former politicians as consultants: former President George H. W. Bush is among them-along with a host of other Bush family cronies.
Now that the United States is bombing Afghanistan and allocating huge sums of money for defence, including $40 billion for the "war on terrorism" and more than $200 billion [1994 dollars] for the Joint Strike Fighter (JSF). Carlyle owns many of the companies that will share in the $200 billion JSF deal.
The Carlyle Group, which claims to be the largest U.S. private-equity fund with some $14 billion in assets, makes money by investing in undervalued companies and reselling them at a profit, employing a host of former top-level government officials from the Bush and Reagan administrations, including former President Bush, in a global "money machine."
The success of the relatively young Carlyle Group is hardly surprising given that it primarily buys companies that are regulated by government. Nearly two-thirds of its investments are in defence and telecommunications companies, which are affected by shifts in government spending and policy. Financial experts say the Carlyle Group's most profitable niche is buying military and aerospace supplies at discount prices and selling them for a lot more.
With Carlucci as chairman, it's no surprise that Carlyle is drawn to defence firms. Carlyle owns numerous defence and aerospace firms such as United Defence Industries, which makes tanks, guided missiles, space vehicles, and weapons delivery systems. United States Marine Repair (USMR) is America's largest non-nuclear ship repair, modernisation and conversion company and is another Carlyle company. Carlucci's knowledge of the Pentagon's inner workings gives Carlyle an advantage when buying defence companies that have fallen in market value. Carlucci, who is seen as largely responsible for Carlyle's success, said he met in February with his old college classmate, Donald Rumsfeld, the new secretary of defence. He also met with Vice President Dick Cheney, himself a defence secretary under former President Bush, to talk about military matters-at a time when Carlyle has several billion-dollar defence projects under consideration.
Although the Carlyle Group is a "private equity fund" it has enriched itself using public and state pension funds from California, Texas and Connecticut. The California Public Employees' Retirement System (CAL PERS) has invested hundreds of millions with Carlyle and has at least a 5 percent stake in the firm.
The Texas teachers' pension fund-whose board was appointed when George W. Bush was governor-gave Carlyle $100 million to invest. In Connecticut, a scandal resulted when Wayne Berman, a Washington consultant and fund-raiser for George W. Bush's presidential campaign, received "a kickback" of more than $900,000 after the state treasurer, Paul J. Silvester, steered tens of millions of state pension fund dollars into a Carlyle Group investment fund.
So there is war, Carlyle gets all the orders to make weapons and who owns Carlyle? George Bush and family and friends, and so who makes money out of war? Bush and friends. Isnt that great??
All this is taken from the Internet and is was an eye opener for me. So sharing it with all. There is more coming soon.
PS: I am missing India lots today and I want to come back as soon as possible. Main bahut dukhi hoon. :-(


  © Free Blogger Templates Blogger Theme by 2008

Back to TOP