LOBBYING THE SENATE FINANCE COMMITTEE

“During the same period [2007], Bruce Rosenblum, a managing director at the Carlyle [Group] who was then the chairman of the Private Equity Council, appeared before several congressional committees. He argued, among other things, that the industry served the economy by streamlining companies and producing investment gains for pension funds, and that raising taxes on private equity might prompt some firms to move abroad. Speaking before the Senate Finance Committee in July [2007], he challenged the notion that private-equity partners were not true entrepreneurs: ‘Is creating the next Google more important than an investment to strengthen iconic American brands such as Dunkin’ Donuts and Burger King?’”

Alec MacGillis, “The Billionaires’ Loophole,” New Yorker, March 14, 2016, pp: 64-73.