Tuesday, March 28, 2017

Rubenstein to Hold Up PEU Lantern

North End Waterfront.com reported Carlyle Group co-founder David Rubenstein will keynote an event commemorating the kickoff of the Revolutionary War:

On April 18, 1775, two lanterns were hung from the steeple of the Old North Church, launching what would become the American Revolutionary War. Signaling the departure of British regulars “by sea,” the two lanterns have come to represent the resolve and ingenuity of the American spirit.

Every year, Old North commemorates the hanging of the lanterns with an evening of history and an inspiring address from the year's keynote speaker, David Rubenstein, co-founder and co-CEO of Carlyle Group.

Join us Sunday, April 16 2017 at Old North Church to celebrate this day.
Some may find it odd for a private equity underwriter (PEU) to speak given greed's role in decimating the resolve of American workers and the size of America's middle class.  PEU ingenuity via financial machinations informs workers that rewards go to owners and managers.  They do not trickle down.

The corporate ruling class can help sponsor the event.

For sponsors, a reception in the Washington Garden and Courtyard will begin at 6:30 p.m. and the Lantern Ceremony will start at 8:00 p.m.

Steeple Climber - $25,000 (10 guests/2 pews/$24,150 is tax deductible)
Lantern Lighter - $10,000 (8 guests/2 pews/$9,320 is tax deductible)
Bell Ringer - $5,000 (5 guests/ 1 pew/ $4,575 is tax deductible)
Pew Owner - $2,500 (4 guests/ 1 pew/$2,160 is tax deductible)
It took time but I found Rubenstein has more in common with aged revolutionaries than those waging war against the crown.  Both David Rubenstein and Thomas Jefferson displayed youthful idealism, which waned as money rose in importance.   

The Smithsonian reported Thomas Jefferson's turn to the dark side:

It had long been accepted that slaves could be seized for debt, but Jefferson turned this around when he used slaves as collateral for a very large loan taken out in 1796 from a Dutch banking house in order to rebuild Monticello.  He pioneered the monetizing of slaves, just as he pioneered the industrialization and diversification of slavery. 
Rubenstein pioneered the marriage of political and business connections, the long term use of preferred PEU taxation via carried interest, financial machinations that suck cash out of affiliates while enriching the PEU sponsor and much more.

The Lantern Ceremony with David Rubenstein sheds light on the shift from our country's founding ideals to a shadow side with its staggering emphasis on power and greed.