While on vacation in Hawaii, Obama tapped Jerome Powell to serve on the Federal Reserve Board of Governors.
Powel served as the undersecretary for finance under the president George H. W. Bush and was a partner of The Carlyle Group. The Carlyle Group is a massive private equity firm and one of the largest defense contractors in the world.
They’re made up of some of the most influential policymakers over the last five administrations including both Bush presidents, former Secretary of State James Baker III, former Secretary of Defense Frank Carlucci, former Clinton Chief of Staff Mack McLarty, and former SEC Chairman Arthur Levitt to name a few.
Other notable investors in The Carlyle Group include the bin Laden family and the Saudi Royal Family. Coincidentally, George H. W. Bush was meeting at the Ritz Carlton Hotel in Washington on the morning of September 11th with one of Osama Bin Laden’s brothers.
Watch the documentary below for some more background on the Carlyle Group:
This is not the first time Barack Obama has placed Bush Sr.’s minions into influential positions. In August 2010, Daniel F. Akerson, a managing director of the Carlyle Group, in what was called a “surprise move” was named the CEO of General Motors (GM), otherwise known as Government Motors.
Once again, Obama reveals that change will remain absent under his leadership, and the military-industrial complex will continue to garner powerful positions during his administration.