From 1997 to 2005, Jerome Powell was a partner at the Carlyle Group, a group shrouded by controversy and secrecy.
For example, Michael Moore made a documentary ‘Fahrenheight 9/11’ that examined the relationship between the Carlyle Group and its ownership of defense contractor United Defense.
In The World According to Bush, William Karel interviewed Frank Carlucci to discuss the presence of Shafiq bin Laden, Osama bin Laden’s estranged brother, at Carlyle’s annual investor conference while the September 11 attacks were occurring.
It’s unclear what Jerome Powell’s relationship with the Carlyle Group was, but the Carlyle Group’s influence on Washington policy makers as well as its role in the 2008 financial crisis and the fact that Shafiq Bin Ladin, a member of the Bin Ladin Family, had been a ‘guest of honor’ and invited to participate in Carlyle’s managed funds was too strange for us to ignore.
It’s rumored that Jerome Powell’s wealth mainly came from his time with the Carlyle Group.