Carlyle Group, other economic problems in the USA

In this video from the USA

SOR (Summer of Resistance) youth present the Carlyle Group with an award for excellence in war-mongering.

By Barry Grey:

Gold and oil prices soar, dollar slumps, Carlyle Group fund collapses

14 March 2008

Just two days after the Federal Reserve Board announced an emergency $200 billion debt-relief plan for distressed Wall Street finance houses, markets in the US and internationally were shaken by the collapse of Carlyle Capital Corporation (CCC), a publicly traded investment fund established by the Carlyle Group private equity fund.

The Carlyle debacle was accompanied by other developments pointing to both recession and rising inflation. Crude oil prices hit a new record of $111, gold futures breached the $1,000-an-ounce mark, and the dollar fell to record lows versus the Japanese yen, the euro and the Swiss franc.

“It’s very strongly the deterioration in the dollar, which is a function of the credit crisis,” said Jim Steel, senior vice president and metals analyst with HSBC. “The dollar is under siege right now.” …

The Carlyle Group is a Washington-based investment company with close ties to the Washington establishment, including the Bush family. At various times, former president George H. W. Bush and his secretary of state, James Baker, have served as advisers to Carlyle.

Not just the Bush family, but also the Bin Laden family is linked to the Carlyle Group. As discussed in Michael Moore’s film Fahrenheit 9/11 and elsewhere.

In a particularly crass example of the revolving door between high office in Washington and high finance, the outgoing chairman of the Federal Communications Commission, Julius Genachowski, has taken a top position with the multi-billion dollar Carlyle Group, the third-largest private equity firm in the United States: here.

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5 thoughts on “Carlyle Group, other economic problems in the USA

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