Saturday, January 17, 2009

Bush Economy Summed by Carlyle Group's Growth

President George W. Bush leaves office in three days. While many seek to polish his crude, violent, and heavy-handed record, I offer one measure, the Carlyle Group's funds under management:

February 2001--$12.5 billion (MarketWatch)
January 2009--$91.5 billion (Kellogg School of Management)

The private equity underwriter (PEU) garnered an additional $79 billion. How many Americans experienced similar financial growth? Who had their assets grow over six and one-half times during the go-go Bush years? Carlyle takes an management fee and a big chunk of the profits. Whose income soared 658% under George W.'s rule? Very few, my friends. Bush loves corporations and he corporafornicated to the very end. PEU.

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