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300,000 when he sold his stocks in Tom Brown before becoming governor. The investment decisions of UTIMCO were made generally in secret, though following research has uncovered some of the certain areas to that your money were directed. 10 million visited the Carlyle investment group, which has ties with the Republican Party and the Bush family close. The chairman of Carlyle is Frank Carlucci, former secretary of defense under Ronald Reagan. Also linked to Carlyle is James Baker III, previous secretary of condition under the elder Bush.

Among the other beneficiaries of Hicks’ generosity was the KKR 1996 Fund, a subsidiary of Kohlberg Kravis Roberts, the leveraged buyout company that became notorious through the 1980s for its intense acquisitions that remaining target companies almost bankrupt. 20 million in a deal relating to the Bass family, which became extraordinarily rich with the aid of Richard Rainwater, who had became a member of Bush in the Texas Rangers deal. The Basses were involved with Harken Energy also.

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After Harken received a fantastic offer granting it oil-drilling privileges off the coastline of Bahrain, it called in the Bass brothers to fund the preliminary exploration. According to a report by the guts for Public Integrity, the Bass family is George W. Bush’s largest career patron fifth. These are only a small number of the deals organized by Hicks, which by no means benefited only Bush’s friends-they benefited Hicks also. UTIMCO committed to a number of companies that had or were about to begin relations with Hicks’ own firm. When Hicks stepped in 1997 and handed over the post to Donald Evans down, the same investment design continued. 250 million, three times what Bush & company got covered it.

2 million. However, at some true point during Bush’s tenure as managing partner of the Rangers, his fellow owners increased his stake in the team significantly, cost-free. 13 million when the united team was sold. Much of this gift presumably came from the main stakeholder in the team, Rainwater, who benefited financially in various ways during Bush’s tenure as governor. 70 million loss, without allowing other investors to bid on the sale. Such was the way in which in which George W. Bush obtained his fortune-a classic exemplory case of how politics power and inside cable connections can be leveraged into personal wealth, at the expense of public assets.

The mortgage-backed securities possessed by the Fed are those that have been released and guaranteed by Fannie Mae, Freddie Mac and Ginnie Mae. Ginnie Mae is government-owned corporation operated by the U.S. Section of Urban and Housing Development. Fannie Mae and Freddie Mac are chartered congressionally, government-sponsored enterprises, that are now held in conservatorships by the government. “Fannie Mae and Freddie Mac are chartered by Congress as government-sponsored enterprises (GSEs) to provide liquidity in the mortgage market and to promote homeownership for underserved groups and locations,” the Congressional Research Service explained in a report published this August.