LQD The Other Snarkozy

by Sven Triloqvist
Thu Mar 13th, 2008 at 12:45:05 PM EST

I was reading about the the crash of the 27 billion dollar fund Carlyle Capital. I couldn't remember who was involved with the infamous Carlyle Group - but did remember Bushes snr and jnr, Frank Carlucci and John Major. But looking through the list below, a name jumped out of some interest to ET: Oliver Sarkozy, half-brother of the French Prezzie.


Read the story of the crash, then check out these names:


Notable current and former employees and affiliated persons

Business

    * G. Allen Andreas - Chairman of the Archer Daniels Midland Company
    * Daniel Akerson - company director
    * Joaquin Avila - investment banker
    * Laurent Beaudoin - CEO of Bombardier (1979-)
    * Paul Desmarais - Chairman of the Power Corporation of Canada
    * Arthur Levitt - former Chairman of the U.S. Securities and Exchange Commission
    * Karl Otto Pöhl - former President of the Bundesbank
    * Olivier Sarkozy (half-brother of Nicolas Sarkozy, President of France) - co-head and managing director of its recently launched global financial services division, since March 2008 [21].

Politics and public service

    * James Baker III, former United States Secretary of State under George H. W. Bush, Staff member under Ronald Reagan and George W. Bush, Carlyle Senior Counselor, served in this capacity from 1993 to 2005.
    * George H. W. Bush, former U.S. President, Senior Advisor to the Carlyle Asia Advisory Board from April 1998 to October 2003.
    * George W. Bush, current U.S. President. Was appointed in 1990 to the Board of Directors of one of Carlyle's first acquisitions, an airline food business called Caterair, which Carlyle eventually sold at a loss. Bush left the board in 1992 to run for Governor of Texas.
    * Frank C. Carlucci, former United States Secretary of Defense from 1987 to 1989; Also, former Princeton wrestling partner of former US Secretary of Defense, Donald Rumsfeld. Carlyle Chairman and Chairman Emeritus from 1989 to 2005.
    * Richard Darman, former Director of the U.S. Office of Management and Budget under George H. W. Bush, Senior Advisor and Managing Director of The Carlyle Group from 1993 to the present
    * Allan Gotlieb, Canadian ambassador to the United States (1981-89) and member of Carlyle's Canadian advisory board.
    * Liu Hong-Ru, former chairman of China's Securities Regulatory Commission
    * William Kennard, Chairman of the U.S. Federal Communications Commission (FCC) under President Bill Clinton, Carlyle's Managing Director in the Telecommunications & Media Group from 2001 to the present.
    * Arthur Levitt, Chairman of the U.S. Securities and Exchange Commission (SEC) under President Bill Clinton, Carlyle Senior Advisor from 2001 to the present
    * Peter Lougheed - Premier of Alberta (1971-85)
    * John Major, former British Prime Minister, Chairman, Carlyle Europe from 2002 until 2005
    * Frank McKenna, Canadian ambassador to the United States and former member of Carlyle's Canadian advisory board
    * Mack McLarty, White House Chief of Staff under President Bill Clinton, President of Kissinger McLarty Associates, Carlyle Senior Advisor from 2003 to the present
    * Anand Panyarachun, former Prime Minister of Thailand (twice), former member of the Carlyle Asia Advisory Board until the board was disbanded in 2004
    * Randal K. Quarles, former Under Secretary of the U.S. Treasury under President George W. Bush, now a Carlyle managing director
    * Fidel V. Ramos, former president of the Philippines, Carlyle Asia Advisor Board Member until the board was disbanded in 2004
    * Dan Senor - political consultant
    * Thaksin Shinawatra, deposed Prime Minister of Thailand, former member of board, who resigned on taking office in 2001
    * Luis Téllez Kuenzler, Mexican economist, current Secretary of Communications and Transportation under the Calderon administration and former Secretary of Energy under the Zedillo administration.

The fund's website has a marvellous slogan: "Quality diversified assets, steady current income"

Carlyle Capital Corporation Limited ("CCC") is a closed-end investment fund domiciled and registered as a limited company under the laws of Guernsey, Channel Islands. CCC invests in a diversified portfolio of fixed income assets including high-grade mortgages and credit products. CCC's day-to-day activities and investment portfolio are managed by Carlyle Investment Management L.L.C., whose investment professionals have extensive experience in the areas of mortgage finance, leveraged finance, capital markets transaction structuring and risk/portfolio management.

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Carlyle Group sold 85% of CCC on the stock market in July 2007, at $19 a share. These shares were worth$6 on Monday, and $0.18 today.

It's not Carlyle Group that lost money.

In the long run, we're all dead. John Maynard Keynes

by Jerome a Paris (jeromeguillet@yahoo.fr) on Thu Mar 13th, 2008 at 01:17:45 PM EST
Surely not! But I am sure the rosy picture painted for that sale was not the distinctly unrosy picture discussed in the boardroom.

I'd class it along with selling TB-infected blankets to the North Anerican Indians in the annals of heinous crimes.

You can't be me, I'm taken

by Sven Triloqvist on Thu Mar 13th, 2008 at 01:24:12 PM EST
[ Parent ]
Come on. TB blankets?

Carlyle sold a turd on its "good" name. One has to be be very greedy and stupid to trust Carlyle's "good" name and keep your shirt on.

Big sharks luring and eating smaller sharks. That's all it is.

Facts, selfish little bastards. They don't even care about your feelings.

by Francois in Paris on Thu Mar 13th, 2008 at 01:58:42 PM EST
[ Parent ]
As it was on the North American frontier prior to 1840.

You can't be me, I'm taken
by Sven Triloqvist on Thu Mar 13th, 2008 at 02:09:45 PM EST
[ Parent ]
Ehh????

It was between aboriginal populations and colonists, not between one group of colonists and another meaner group of colonists.


Facts, selfish little bastards. They don't even care about your feelings.

by Francois in Paris on Thu Mar 13th, 2008 at 03:21:51 PM EST
[ Parent ]
Mere hermeneutics ;-)

You can't be me, I'm taken
by Sven Triloqvist on Thu Mar 13th, 2008 at 03:56:31 PM EST
[ Parent ]
Not in a mood for hermeneutics.

Very bad day. Not for me but for people I appreciate and respect.

Interestingly enough, Carlyle is involved.


Facts, selfish little bastards. They don't even care about your feelings.

by Francois in Paris on Thu Mar 13th, 2008 at 04:49:02 PM EST
[ Parent ]
deserved some sympathy? Or were they tuna?

paul spencer
by paul spencer (spencerinthegorge AT yahoo DOT com) on Thu Mar 13th, 2008 at 05:25:39 PM EST
[ Parent ]
Sardines

Facts, selfish little bastards. They don't even care about your feelings.
by Francois in Paris on Thu Mar 13th, 2008 at 05:30:41 PM EST
[ Parent ]
heh, i was reading through the distinguished members, thinking whaaa?

these guys can't be losing money, they're in on the darkest scams on the planet. then i thought, i bet they skipped dodge and left the suckers who were baited in with the illustrious names, then i read jerome's comment about the stock sale...

nothing if not predictable, these guys...like francois said...big predators eating little ones.

and snarkozy, that reminds me of the business jeb bush started with pope benedict-to-be...

such a cosy little club, our lords and masters...

There are no blank spots on the map any more, anywhere on earth. You want a blank spot on the map, you gotta leave the map behind. Jon Krakauer

by melo (melometa4(at)gmail.com) on Thu Mar 13th, 2008 at 05:08:04 PM EST
Carlyle's business model had the merit of clarity : untrammeled influence peddling.

In a sense, they've gone back to the most archaic form of capitalism : letters patent bought out from the local potentates.

Facts, selfish little bastards. They don't even care about your feelings.

by Francois in Paris on Thu Mar 13th, 2008 at 05:41:26 PM EST
[ Parent ]
Too right.

You can't be me, I'm taken
by Sven Triloqvist on Thu Mar 13th, 2008 at 05:46:15 PM EST
[ Parent ]


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