Carlyle Profits Soar Since 2001

This is an interesting coincidence, because I was just remarking in a seminar the other day at school about James Baker's role in the Carlyle group, and how one time (this was a year or two ago) I was toodling around on the Internet and looked into the Carlyle group. When I pointed my browswer toward the Carlyle website, it behaved very strangely. My whole system locked up for 30 seconds or so, I was unable to "force quit" my browser application. So this article piqued my interest:
The Carlyle White House
By William Rivers Pitt
t r u t h o u t | Columnist

Tuesday 14 November 2006

It was bad enough when the Carlyle Group bought Dunkin' Donuts last year, forcing millions of conscientious caffeine addicts to look elsewhere for their daily fix. Now, it appears that Carlyle has added 1600 Pennsylvania Avenue to its formidable portfolio of acquisitions.

The Carlyle Group achieved national attention in the early days of the Iraq occupation, especially after Michael Moore's "Fahrenheit 9/11" exposed the firm's umbilical ties to the Bush family and the House of Saud. For the uninitiated, Carlyle is a privately-owned equity firm organized and run by former members of the Reagan and Bush Sr. administrations.

Currently, Carlyle manages more than $44 billion in 42 different investment funds, which is an interesting fact in and of itself: Carlyle could lay claim to only a meager $12 billion in funds in December of 2001. Thanks to their ownership of United Defense Industries, a major military contractor that sells a whole galaxy of weapons systems to the Pentagon, Carlyle's profits skyrocketed after the invasion and occupation of Iraq.

Some notable present and former employees of Carlyle include former president George H.W. Bush, who resigned in 2003; James Baker III, Bush Sr.'s secretary of state and king fixer; and George W. Bush, who served on Carlyle's board of directors until his run for the Texas governorship. One notable former client of Carlyle was the Saudi BinLaden Group, which sold its investment back to the firm a month after the September 11 attacks. Until the October 2001 sellout, Osama bin Laden himself had a financial interest in the same firm that employed the two presidents Bush.

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