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Carlyle covers up.(Look Out)(Editorial)
- Article from:
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The Nation
- Article date:
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November 15, 2004
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Copyright informationCOPYRIGHT 2004 The Nation Company L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Less than twenty-four hours after The Nation disclosed that former Secretary of State James Baker and the Carlyle Group were involved in a secret deal to profit from Iraq's debt to Kuwait, NBC was reporting that the deal was "dead." At The Nation, we started to get calls congratulating us on costing the Carlyle Group $1 billion, the sum the company would have received in an investment from the government of Kuwait in exchange for helping to extract $27 billion of unpaid debts from Iraq.
We were flattered (sort of), until we realized that Carlyle had just pulled off a major public relations coup. When the story broke, the notoriously secretive merchant bank needed to find a ...
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