War Profiteering by Friends of Bush*

Connections Helped United Defense Business

August 5, 2003

Carlyle Group Inc., a private equity firm whose senior executives include former U.S. cabinet members and ex-President George H.W. Bush, has turned a $180-million 1997 investment in United Defense Industries Inc. into $1.2 billion.

Carlyle yesterday sold shares worth $270 million in United Defense, which makes the Bradley Fighting Vehicle as well as artillery, naval guns, missile launchers and munitions. Carlyle has sold almost $500 million in shares of the company in public offerings since 2001, pocketed about $350 million in dividends before the company went public, and still owns about $350 million of stock, according to Securities and Exchange Commission filings.

Carlyle acquired United Defense in October 1997, buying out previous owners FMC Corp. and Harsco Corp. Carlyle is replete with famous names. Senior advisers include former British Prime Minister John Major, former U.S. Secretary of State James Baker, former Securities and Exchange Commission chairman Arthur Levitt, and Richard Darman, budget director under the former President Bush. Frank Carlucci, defense secretary under President Ronald Reagan and chairman emeritus of Carlyle, has been a director since 1997, as has former MCI Communications Corp. Chief Financial Officer William E. Conway, one of four founders of Carlyle, who serves as United Defense's chairman.

United Defense has acknowledged Carlyle's connections helped its business. "Our board of directors consists of members who have served in senior positions within the U.S. government, such as secretary of defense, chairman of the Joint Chiefs of Staff and commander-in-chief of the United States Central Command," it said in its October 2001 prospectus. The management and board's "unique insights into the U.S. Department of Defense and allied militaries is one of our key assets." - http://www.newsday.com/business/printedition/ny-bzcarl053402885aug05,0,370296.story?coll=ny-business-print

Bush and his cronies profiteering from the war? What next, someone will tell me that they're connected to big oil?

America please wake up from your slumber,those greedy bastards are stealing everything thats thats not nailed down,and I hear they are getting a supply of crowbars to ripup whats nailed down.WAKE UP AMERICA

Since his daddy is pocketing a nice sum from Carlyle, which will be in Junior's account sooner or later.

...The shock is that our society allows it to happen...as if there is nothing wrong with starting a war and then making a 'killing' from the mayhem.