The Carlyle Group is one of the largest investment banks in the world. Based in Washington, it has accumulated its wealth mainly by investments in defence — a lucrative market in the continued tradition of American war, imperialism and militarism. A strange coincidence? The payroll features people such as George Bush, John Major (former British Prime Minister), Lou Gerstner (former chairman of IBM), James Baker III and Fidel Ramos (former Prime Minister of the Philipines). The group invests in areas that are closely tied to government policy: Aero-space and defence, telecommunications, real estate, health care and banking. With 16 billion dollar under management they have the reputation of being the best-connected company in the world. Their list of private investors include George Soros, the Saudi Royal Family and the Bin Laden Family. * * * Financial Coup d’Etat ...The contractor who was blamed for HUD’s missing money was AMS, a financial software company. AMS board member Walker Lewis was affiliated with Dillon Read, the investment bank behind the Cornell Corrections private prison debacle. Lewis was also chairman of Devon Value Advisors, a consulting partner to the infamous Pug Winokur and Capricorn Holdings. With $17 billion and $59 billion missing from HUD, secretary Andrew Cuomo never fired AMS or seized their money. Instead, AMS chairman Charles Rossotti was appointed IRS commissioner and given a special waiver to keep his AMS stock. He profited personally when HUD kept AMS on its payroll and new contracts were awarded to AMS by the IRS. Rossotti oversaw the IRS criminal investigation division that was supposed to take a leading role in money laundering enforcement as $4 trillion went missing from the federal coffers. When Rossotti left government service, he joined Lou Gerstner at the Carlyle Group. If $17 billion went missing at HUD in 1998 – that’s $1.4 billion a month, $7.9 million per working hour missing from HUD alone, not counting other agencies. And that’s the small number. What about the other $59 billion (not to mention the $4 trillion)? Where did it all go? Was it financed with securities fraud using GNMA or fraudulently issued US treasury securities? These are important questions. Meanwhile, some of the most powerful firms with WDC ties were having remarkably good luck raising capital. The period of missing money coincided with a “pump and dump” of the US stock market and a massive flow of money into big private investors’ hands. The financial fraud known as “pump and dump” involves artificially inflating the price of a stock or other security through promotion, in order to sell at the inflated price. This is illegal under securities law, yet it’s quite common. Cornell Corrections, Dillon Read, KKR, RJR: all shameful examples of the real corporate business model prevailing in the US and globally. In summer 1998, the Carlyle Group announced that it had closed its European fund with $1.1 billion. By 1999, Carlyle had 14 funds with $10 billion under management. Meanwhile, Enron was enjoying a rush of good luck with offshore partnerships and growing revenues from “the new economy”. Enron’s leaders included a “who’s who” of government contracting. Pug Winokur was chairman of the Enron finance committee. Pug was also an investor and board member in DynCorp, which was running critical and highly sensitive information systems for the DOJ, HUD and the SEC. Arthur Anderson (Enron, DynCorp and Cornell Corrections’ auditor) was a major contractor at HUD. Frank Savage, a board member of Lockheed Martin, was also on Enron’s board and finance committee. Lockheed Martin is the largest defense contractor, and was paid over $150 million a year to run the HUD information systems. Enron and HUD shared all the same big banks – Citibank, JP Morgan-Chase – and Wall Street firms. Pug Winokur was on the board and invested with the Harvard endowment, a large investor in Enron. The attorney representing his firm on SEC documents, O’Melveny and Myers, a prominent L.A. firm, was reported to be the lead firm helping Al Gore in the 2000 election. Harvard University was a HUD contractor and major source of HUD, treasury and White House officials. The Harvard Endowment was a major investor in HUD real estate and mortgage operations, along with Pug Winokur and his investment company. Harvard employees were one of the largest groups of lifetime contributors to Bill Clinton. Harvard was also a source of appointees for the SEC, DOJ, DOD, OMB, and other agencies throughout the government. During the Clinton administration, the Harvard Endowment rose from approximately $4 billion to almost $20 billion, an astounding performance. My description of a chart in the source document…Pug Winokur is a central figure. He was a top man at Enron, DynCorp and the Harvard Endowment. Enron then had over 700 subsidiaries in the Cayman Islands, each with its own story. Meanwhile, DynCorp is working closely with the FBI, the US attorneys, SEC, DOJ, PROMIS, the asset forfeiture fund, and especially HUD. Enron and Winokur were making political contributions to their republican allies, and to the democrats who were investigating Enron. And wouldn’t you know, Winokur got off scot-free. He’s a private sector man whose shady dealings are to the benefit of his government friends. Winokur’s DynCorp and Lockheed Martin were both top contractors for HUD. Frank Savage was a board member of both Lockheed Martin and Enron. Pug Winokur was chairman of Enron’s finance committee... forresthemp.wordpress/2010/12/14/financial-coup-d%E2%80%99etat/ thoughtmaybe/the-iron-triangle-the-carlyle-group-exposed/
Posted on: Wed, 11 Sep 2013 02:07:29 +0000
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