The White House and Congress recently allowed Chevron to continue funneling millions in funds to the Burmese military junta. But an even greater indication of the Bush freedom sell out, now sits on the table. The Carlyle Group announced the $3.5 billion sale of John Maneely Co. to a Russian steelmaker. The deal is expected to close in the fourth quarter.
Bush has a history of covering for his friends down Pennsylvania Avenue. CFIUS subtly approved Carlyle's sale of over 50 U.S. airport operations to Dubai Aerospace. He conveniently ommitted the hospital with highest patient death toll after Hurricane Katrina from his White House Lessons Learned report. Carlyle affiliate LifeCare's 24 patient deaths warranted not one mention in the 300 page tome.
George W. has one more chance to help Carlyle make yachtloads of money. Will his administration approve the sale of a key American steel manufacturer to a Russian firm, operating from a "dictatorial" country? Will Carlyle's potential 500% two year return outwiegh international security considerations? If the past is any indication of the future, Carlyle will get their way, and Bush will pave it.
