"Speak of the devil". My last post concerned the Carlyle Group's new venture into launching it's own hedge fund. Today the Group anounced a textbook example of how the military-industrial complex works and thrives on war. Carlyle is near completion of a sale of it's 70% stake in the Italian aeropspace firm Avio SpA. Avio now supplies U.S. fighter jets with components. If completed Carlyle would receive $ 3.33 billion for it's original $ 1.1 billion investment in 2003. It acquired Avio from Fiat.
Consider this. Do you think Fiat would have sold Avio if it knew that the U.S. was about to invade Iraq and the greater Middle East ? Or, do you think Avio would have gotten contracts for American jet fighter components if it still belonged to Fiat ?
That's an example of how the military-industrial complex should be better described as the militar-industrial- congressional-executive complex.
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