Monday, July 12, 2010

Erskine Bowles Between Fortunes

Governor Bev Perdue introduced Erskine Bowles at the National Governors Association meeting. Closing her effusive praise for Mr. Bowles, Perdue shared Erskine's advice:

"You know Bev, when your introduce me, just tell them ...actually I'm between fortunes. I've lost one and need to make another one, so that's what my goal is."

Those are ominous words from a man co-chairing a Deficit Commission. His recommendations will determine taxes on fortune makers. The man revealed his conflicts without truly declaring them.

As for fortunes lost, the average American should be so lucky. Erskine and wife Crandall received over $1 million for their 2009 board service and together their public holdings are $4.1 million. That does not include Bowles pay from the University of North Carolina or his compensation from Carousel Capital, where Bowles serves as Senior Advisor.

Erskine Bowles is paid to represent private equity underwriters (PEU's) and Wall Street giants. His goal is to make gobs and gobs of money. How will that express in his volunteer work? Bowles pointed at America's Government Corporate Monstrosity with his advice for his co-chair:

"Always be introduced by someone you contribute to."

Spoken like a true PEU. They run in packs. (Bowles cited Britain's effort, headed by PEU Lord John Browne, former BP CEO). It's a shameless bunch.

Update 12-14-11:  Gov. Bev Perdue's campaign finance chief got 24 months unsupervised probation and a $25,000 fine for unscrupulous handling of donations.  The miscreant also raised big money for Erskine Bowles.

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