San Diego Housing Market News and Analysis
Carlyle group urges fast approval of bailout so it can help taxpayers
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Submitted by equalizer on September 23, 2008 - 10:24pm
"Carlyle Group CYL.UL co-founder David Rubenstein said the private equity firm may be interested in buying some assets that could be acquired by the U.S. government as part of the $700 billion financial crisis bailout effort.
Speaking on CNBC, Rubenstein said Carlyle may be interested in acquiring some mortgage-backed securities and other assets, but he did not cite specific companies."
"Private equity can help by buying these assets," Rubenstein said. "Private equity can be among the most significant buyers of assets."
Uhm, why cant Private Equity just buy those assets now? Mr Rube said that Govt will make money and PE will make money. If so, then why doesnt PE just make more money buying direct?? Do you smell SCAM?
He said he hoped Congress would move quickly to approve the package and that President George W. Bush would directly discuss the issue with the American public.
"Clearly, we needed something," Rubenstein said.
Something, so he can steal from the taxpayers.
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