Bush and Clinton’s secret billions of dollars in trouble as Carlyle Capital Corp could go bankrupt unless its private equity founder injects more money – financial meltdown continues
Harry Patil
Mar. 8, 2008

Carlyle Group, walking a narrow path is in the art of doing business at the murky intersection of Washington politics, national security, and private capital; mastering it, has enabled the group to amass $12 billion in funds under management.

For 14 years now, with almost no publicity, the company has been signing up an impressive list of former politicians - including White House Budget Advisor, Bush/Clinton Administrations, Darman, the first President Bush and his secretary of state, James Baker; British former PM John Major; one-time World Bank treasurer Afsaneh Masheyekhi, Former Secretary of Defense and Deputy Director of the CIA, Carlucci, and several south-east Asian powerbrokers - and using their contacts and influence to promote the group. Among the companies Carlyle owns are those which make equipment, vehicles and munitions for the US military, and its celebrity employees have long served an ingenious dual purpose, helping encourage investments from the very wealthy while also smoothing the path for Carlyle's defence firms.

It is now clear that the credit crisis is striking at the very epicenter of business and governmental power in America, and potentially threatening the fortune of the Bush and Clinton families.

The Clintons are also linked indirectly.

Bush Clinton fortunes are in trouble as Carlyle Capital Corp (CCC) could go bankrupt unless its private equity founder injects more money.

As analysts forecast that Carlyle Capital Corp could go bankrupt unless its private equity founder injects more money, bankers said the situation was likely to leave a stain on the reputation of one of the world’s biggest buy-out firms. CCC said its lenders had started to liquidate its portfolio of residential mortgage-backed securities, which was worth $21.7bn at the end of February, after it had failed to meet a number of margin calls in the past week.

The confrontation between the Carlyle Group and its bankers intensified on Friday as the private equity group’s Amsterdam-listed fund teetered on the brink of collapse after receiving margin calls and default notices from lenders.

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