Recruiting Former Government Leaders
Often the target of public scrutiny and anger politicians have earned their lowest approval rating in a decade. Senator Harry Reid’s latest numbers for approval are at a paltry 19%. In contrast, for all the bad press, bad moves and just plain bad results, the President’s approval rating is nearly twice that. In the last month Congress’ overall approval rating also fell below the Presidential approval rating. We may be spending too much time looking at current members of Congress and a sitting President. What about the others? Those who have left public office but still have their fingers in the pie in a subtle way. At least subtle in terms of public scrutiny. The effects of their involvement and the ethics and legality may not be so subtle.
The public perception of organizations like the Carlisle Group, Blackstone Group or SAC Capital Advisors and former world leaders associated with them may be nearly non-existent. It is not in the best interest of these businesses to maintain a high profile in the public sphere. Power brokers on a global scale rarely seek publicity.
The report below features some well known former leaders in the ‘private equity’ and hedge fund business. Among them is none other than Madeleine Albright. Her activities and influence involve more than simple investments.
Show me the money: Ex US officials swell hedge funds’ ranks
by Justin Cole Sat Jun 9, 11:42 PM ET
WASHINGTON (AFP) - What do three former US Treasury secretaries, one time secretary of state
Madeleine Albright, a former US ambassador to the United Nations and ex Spanish prime minister Jose Maria Aznar have in common?They have all been recruited by powerful hedge funds or private equity firms since departing government, while Albright has opened her own hedge fund: Albright Capital Management.
The secrecy surrounding such investment firms and media headlines about the vast riches generated by SAC Capital Advisors, the Blackstone Group and the Carlyle Group among others have only added to their mystique.
The almost cloak and dagger secrecy of former leaders and their association in questionable practices is just a continuation of what normally goes on in Washington. However, the impact of wheeling and dealing in business and political situations on a global scale may have sinister implications on the motives and end game pursued by these individuals and groups. There activities certainly would not exclude influence on current government leaders as indicated below. Perhaps the public should pay more attention. Which raises the question of whether the MSM is largely ignoring these stories or the public is simply not interested.
The ex-presidents’ club The Guardian
Oliver Burkeman and Julian Borger Wednesday October 31, 2001
It is hard to imagine an address closer to the heart of American power. The offices of the Carlyle Group are on Pennsylvania Avenue in Washington DC, midway between the White House and the Capitol building, and within a stone’s throw of the headquarters of the FBI and numerous government departments. The address reflects Carlyle’s position at the very center of the Washington establishment, but amid the frenetic politicking that has occupied the higher reaches of that world in recent weeks, few have paid it much attention. Elsewhere, few have even heard of it…
Here are a few more related ’snippets’ of information pointing to the wide variety of former leaders extending their influence beyond what was done in public office. It is useful to note that the ‘investment’ firms mentioned above are opposed to legislation and oversight regulating their activities. So far no one in Congress has successfully addressed this issue. Why would anyone in public office want to interfere with their next career move? The popular career move for politicians after public office is either typical lobbyist employment or as an ‘advisor’ to one of the groups mentioned above or starting their own like-minded firm as did Madeleine Albright and probably others.
Stanford Matthews
MoreWhat.com
Madeleine Korbel Albright and the Albright Group:
We are a unique team of international negotiators and seasoned diplomats, including two former Presidential Cabinet members. We have decades of combined experience managing multi-million dollar organizations with tens of thousands of employees. We are a unique team of international negotiators and seasoned diplomats, including two former Presidential Cabinet members. We have decades of combined experience managing multi-million dollar organizations with tens of thousands of employees.
Our Principals are Madeleine K. Albright, Carol M. Browner, James C. O’Brien, and Wendy R. Sherman. Additionally, we have a world-wide network of experts, supported by an in-house team.
BUSINESS/FINANCIAL DESK
O’Neill Joins Blackstone
Paul H. O’Neill, the former Treasury secretary, who resigned from the Bush administration last December, was named special adviser to the Blackstone Group.
March 11, 2003
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