What A Billionaire Thinks Of Bernanke

'Ben Bernanke has been a hero.'

How the top .0001% think - courtesy of David Rubenstein.

(Bloomberg) -- David Rubenstein, co-founder of The Carlyle Group talks about the Fed, economy, interest rates, QE and more.

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Rubenstein and Carlyle are perfect examples of billionaire bondholders who were bailed out by TARP and the Fed's ongoing Wall Street triage when insolvent financial institutions were not allowed to fail and institutional investors who owned the bonds of Wall Street's walking dead were made whole.

Daniel Hannan explains how it happened quite brilliantly.

Comments

[Josie]

To LBO/financiers like Rubenstein, The Bernank is not just a hero, he's The Messiah. It makes me sick to admit that Rubenstein is a fellow Dukie. He gave Duke $25mil (so far) and they made him a Trustee. He also purchased the Magna Carta for $20+ mil. Classy guy...no, really (laughter)...

[DailyBail]

Yes...private equity does LOVE cheap money. These guys have been borrowing at ridiculously low rates for almost 5 years now, all thanks to the Fed.

[DailyBail]

Josie

Have you seen this ESPN documentary about a Kansas fan who fights to win the original rules of basketball (James Naismith) at auction.

http://www.youtube.com/watch?v=plhnc0fTqoo

David Rubenstein is the other big bidder (trying to win the rules and give them to Duke) and pushes the price over $3 million.

[DailyBail]

Here's more.

http://www.kansascity.com/2012/08/23/3775545/a-look-at-the-new-documentary.html

[Josie]

Thanks, DB. Did not see that. Good show to the Booth family (and Suzanne Deal Booth who seemed to want it more than David)! Glad KU has the rules. They belong there, no doubt. I did chuckle at Dr. Allen's wife when told that Dukies were going to bid: "Oh, God! But I believe it."

Coulda done without his trip to Cameron and related commentary, however...

[Josie]

...and Josh needs therapy....

[DailyBail]

Coulda done without his trip to Cameron and related commentary, however...

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I missed that part. I must have been taking a snack break. Will be interesting to see if IU, Duke or Kansas can win it this year.

[SKINFLINT]

I missed that part. I must have been taking a snack break. Will be interesting to see if IU, Duke or Kansas can win it this year. Pfft. Surely you jest sir. Maryland. Turgeon will have them peaking at the right time.

[john]

Marketvisual map of Rubenstein.

http://www.marketvisual.com/Profile/MapFull?eid=10361742-43e7-434b-8e76-735b402a35e4

[Josie]

DB-Rubenstein is at it again. Just donated $10mil to fix TJ's house...feel better about him? A Dukie helps a WaHoo...man, Rubenstein is dropping cash all over the place. Wonder if he's buying gold???

[DailyBail]

Hadn't seen that, thx. Here's a link.

http://abcnews.go.com/US/wireStory/10m-gift-spurs-restoration-jeffersons-estate-19005152#.UXLoY6I3uSo