Posted on 03/03/2006 8:06:35 AM PST by Dr. Thorne
Is Carlyle Group at heart of DPW deal?
Posted: March 3, 2006
1:00 a.m. Eastern
© 2006 WorldNetDaily.com
What does Dubai Ports World have in common with CSX, Treasury Secretary John Snow, and the Bush Family? The Carlyle Group is the answer currently gaining ground on the Internet.
What once seemed the propaganda ramblings of none other than "Fahrenheit 911's" Michael Moore may end up becoming the subject of the Senate's upcoming investigation into what Washington insiders are beginning to call the "Dubai Debacle." As reported in the Guardian as early as 2001, Bush '41 and '43 have been connected to the Carlyle Group in various ways resulting in substantial compensation to the Bush family from Carlyle Group investments.
Widely discussed is that CSX – the rail and ocean carrier container company – was sold to DP World in 2004 after Treasury Secretary John Snow was no longer CSX's chief executive officer. What has received far less attention is the transaction announced in December 2002, in which the Carlyle Group acquired a majority stake in CSX for $300 million.
John Snow was sworn-in as secretary of Treasury on Feb. 7, 2003. Then we see that David Sanborn, the U.S. Merchant Maritime Academy graduate who President Bush just nominated to be maritime administrator under Transportation Secretary Mineta was an executive with CSX before he served as DP World's director of Operations for Europe and Latin America.
Then we find that Dubai International Capital, a private equity investment capital firm that is a wholly owned subsidiary of Dubai Holdings commonly participates in co-investments with the Carlyle Group. Dubai Holdings, like DP World, ends up being owned by the United Arab Emirates government, with ultimate ties to Sheikh Mohammed bin Rashid Al Maktoum, the successor currently at the head of Dubai's royal family.
Even Republican senators are scratching their heads wondering why President Bush has dug in his heals with determination that the DP Worlds deal will go through, even if the first presidential veto of the Bush administration needs to be invoked.
Yet, is the Bush administration really willing to vet before Congress a full "follow the money" investigation that leads ultimately to examination of the Carlyle Group's many co-mingled investments with Dubai investment entities that are nothing more than business-front entities for the UAE government? Does the Bush administration really want to go down this trail?
From the sound of recent polls, the American public may demand a full examination. To the average American, the deal still looks like the Bush administration is willing to turn over the operations in 22 U.S. ports stretching from Maine to Florida, and across the Gulf to Texas to a foreign government with proven past ties to terrorists.
Already the conservative wing of the Republican Party is beginning to wonder who George Bush really is. Maybe President Bush is really a "globalist" who truly does value "new world order" international interests over U.S. national security. This perspective is going to add new worry to those of us concerned that the Bush administration has left our southern border with Mexico wide open to illegal immigrants, criminal gangs drugs, and terrorists.
What really is behind the "guest worker" proposal? Could it be that President Bush – despite all his talk about a War on Terrorism to protect America – always had in mind a definition of "America" that stretched from the Arctic Circle to the tip of Argentina? If so, maybe President Bush should have campaigned on that agenda when running for president in 2004. If he had done so, we very much doubt President Bush could possibly have carried Ohio.
Jerome R. Corsi received a Ph.D. from Harvard University in political science in 1972 and has written many books and articles, including co-authoring with John O'Neill the No. 1 New York Times best-seller, "Unfit for Command: Swift Boat Veterans Speak Out Against John Kerry." Dr. Corsi's most recent books include "Black Gold Stranglehold: The Myth of Scarcity and the Politics of Oil," which he co-authored with WND columnist Craig. R. Smith, and "Atomic Iran: How the Terrorist Regime Bought the Bomb and American Politicians."
Here they come now.
To paraphrase Patton - ''That's what happens when you stop being an American and start being a globalist.''
Had Bush and the *current* GOP leadership been sensible in the first place, there never would have been an issue or anything for the Left to demogogue. When will we stop handing issues and PR disasters to the Left for them to take and run with? LAME! LAME! and LAMER!
Do they also invest in coca-cola? maybe we need to investigate?
I'm interested to see if the ties are really there. As far as I know Bush senior is an adviser to the Carlyle group, not a member although that's a very fine distinction. The Bush family has certainly profited from ties to Carlyle. I didn't see much factual info in this article though, just some suppositions.
Bush is making a big mistake pushing this, IMHO.
ping
No one is mentioning Kevin Bacon yet.
If DPW is asked to bow out just wait until Haliburton steps up to the plate.
Haliburton and Bechtle are only two companies that could sustain the operations and absorp the legacy of the Longshoreman union or we could just Nationalize the ports.
Does Coca-Cola have terrorist ties? Do they boycott Israel?
The ports deal has been completely demagouged, but the pretend conservatives who called opponents of the deal "Islamophobic" are even worse than the demagogues.
Agreed
I thought this was about security?
"When will we stop handing issues"
When will the Right stop buying into them?
This should be good. What's the over/under on it hitting 1000 posts?
More likely mean ole WalMart. Trying to get cheaper imports.
Security involves trust. I wouldn't trust a government who wants Israel destroyed.
You'd ask American companies, able to do the job, to do them..as in supplying our troops overseas? .....LOL...
Politicians affiliated with Carlyle
Alice Albright, daughter of ex-Secretary of State Madeleine Albright
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
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 later become Governor of Texas, where he was responsible for appointing several members of the board which controlled the investment of Texas teachers' pension funds. A few years later, the board decided to invest $100m of public money in the Carlyle Group.
Frank C. Carlucci, former United States Secretary of Defense from 1987 to 1989, chairman emeritus and currently strategic business advisor. Also, former Princeton roommate and wrestling partner of present US Secretary of Defense, Donald Rumsfeld.
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
William Kennard, Chairman of the U.S. Federal Communications Commission (FCC) under President Bill Clinton, Carlyle's Managing Director in the Telecommunications & Media Group
Arthur Levitt, Chairman of the U.S. Securities and Exchange Commission (SEC) under President Bill Clinton, Carlyle Senior Advisor
John Major, former British Prime Minister, Chairman, Carlyle Europe until May 2004, and other posts to the present
Frank McKenna, former 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
Anand Panyarachun, former premier of Thailand
Colin Powell, former United States Secretary of State
Fidel Ramos, former president of the Philippines, Carlyle Asia Advisor Board Member until the board was disbanded in February 2004
Park Tae Joon, former prime minister of South Korea
Robert Zoellick, former United States Trade Representative and current Deputy Secretary of State
The Saudi Arabian relatives of Osama bin Laden (not Osama bin Laden himself) were also minor investors in Carlyle until October 2001 when the family sold its $2.02 million investment back to the firm in light of the public controversy surrounding the bin Laden family after September 11.
Hmm, maybe we should tell our several hundred ships to pickup anchor and sail away ASAP? And for our airman to get the heck out.
The Carlyle group didn't review the deal. A wide variety of governmental agencies working with the Treasury department reviewed the deal.
This wasn't some secret deal that the President approved on his own and hid from everyone.
But by all means, dredge up some more conspiracy theories that are absent of facts as to why this deal should be prohibited, and then call anyone who points out that it's just a half baked theory based on loose associations names like yes men.
I agree - it would be the wise thing to do.
The Carlyle Group= The Left Wing Wackos answer to the Right Wing Wackjobs Black Helicopters
Uh, I believe the review process itself is secret.
Since Haliburton and Bechtel are construction firms I'm not sure they're equipped to run ports. Nationalization is where this is headed and the ports will become a beaurocratic nightmare. However, that's what everyone seems to want including a lot of conservatives. But we'll all be so much safer dontcha know.
I'll take over for $20.
Gee.. I don't know.
But I once knew a guy who had a drink with a guy whose 3rd cousin once dated someone who said they knew a person that .... blah, blah, blah who had investments in the Carlyle Group.
Jerome Corsi just 'jumped the shark' with this moonbat conspiracy crap.
BTW 'Jerry', what's next? The old Bush-Nazi sh*t.
No bet. I think your right. I have to go play golf. Think it will be over 300 by the time I get back in about 5 hours?
No he said he didn't trust the UAE, if he doesn't trust them maybe we should get our boys the hell out of there! :)
There you go, injecting that old devil logic into the debate. Sure, all we needed to do was award a no-bid contract for this to Haliburton, then there would have been no outcry. But conspiracy theories are at least an entertaining diversion, and have made the world go round for years and years.
I think that Echo Talon's response referred to the fact that we have Naval and Air stations in some of the same foreign countries who wouldn't mind seeing Israel destroyed (Bahrain, UAE, etc.). Do you trust them enough to allow our troops to be there?
Sorry for explaining your own view to jdm in my post!
thanks for clearing that up, and yes you have it in the correct context.
Well, whats to say if we cancel this deal that they wont tell us to get the F-out? Then where would we go?
LOL.
CSX is one of only six major Class I railroads in North America, and one of the four railroads in the Dow Jones Transportation Index. It had a total market capitalization in excess of $8.5 billion back in 2002, so anyone who thinks the Carlyle Group acquired a "majority stake" in the company for $300 million is freaking delusional.
Jerry Corsi asks some questions that need to be answered...unless you are a Dubai Yes Man and don't want answers.
Jerry Corsi basically disqualifies himself as a legitimate voice of concern on this issue -- even on matters when he could be right -- by getting simple facts like this so laughably wrong.
Some of us conservatives have always wondered who GWBush really is. The Bush43 Presidency sometimes looks like a "jekyll-hyde" effort.
Oh, and one more thing . . . the notion that CSX was sold to DP World in 2004 is going to shock a lot of people who still own, buy and sell publicly-traded CSX stock to this day.
"But by all means, dredge up some more conspiracy theories that are absent of facts as to why this deal should be prohibited, and then call anyone who points out that it's just a half baked theory based on loose associations names like yes men."
That's what they do. Cry at being called "Islamo-phobic" but don't hesitate to label people as shills, Bush-bots, appeasers, and yes-men.
If this hadn't been in a lie-filled DNC press release people wouldn't even now about it. First it's about security. Well that got disproven. Then it was about 9-11 connections. There were none. The it was about a boycott of Israel. The old goal-posts just keep moving on this one, don't they? Tends to make me think the reason those so feverntly against this are against it for their own reasons and to use "security" and Israel as a cover for that is pretty disgusting. When those hypocrites stop using petroleum from countries that boycott Israel, maybe I'll take them seriously.
"Some of us conservatives have always wondered who GWBush really is."
Some of us in NC got our eyes opened with the eleventh hour arm twisting, rules bending and veiled threats, in order to get CAFTA passed.
DP World, bought CSX's overseas shipping stuff. NOT CSX RAILROAD STUFFS
Yes, I know that. Jerry Corsi apparently doesn't.
You could be right...but Jerome Corsi penned the article, and that's what drew my attentiion.
The Carlyle Group: people using their network of connections to make profitable deals. I'm doing that right now as a private citizen...
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.