First things first: Jared Kushner and Ivanka Trump should never have been allowed to work in the White House. Anti-nepotism rules exist for a reason, namely so that unqualified relatives of the president are not given jobs in the most important office in the world.
Kushner, the son of a now-pardoned felon and real estate magnate, came to the White House from his previous position as an executive in the family business, often playing the role of slumlord. Yet, he was tasked with solving everything from the opioid crisis to modernizing the federal government to criminal justice reform to Middle East peace to the coronavirus pandemic. He solved almost nothing, but he did reportedly help secure a pardon for his father.
Agreed, no nepotism.
ReplyDeletehttps://www.msnbc.com/rachel-maddow-show/maddowblog/jared-kushners-saudi-arabian-money-impossible-defend-rcna24102
ReplyDeletehere, the amateurish woman is saying these payments were "for services rendered" - but she misunderstands what these investment funds are.
Let's say KA sets up an investment fund in London, and I shmooze the people at Ponovezh with my knowledge of Rambam (an unlikely scenario).
They want to then invest $100M in real estate in London with my company. The company buys eg a big shoppng mall with rental income. Now that Mall does not belong to KA enterprises - it belongs, legally, to Ponovezh. it is just that i get my staff to do the donkey work, collecting rent from shops and franchises etc. I get a management fee, and maybe a dividend. At the end of the day, the asset belongs to Ponovezh.
Now that is exactly what Kushner is doing - it is not a payment for services rendered. He might buy a skyscraper in Tel Aviv or new york, and this asset is ultimately belonging to Saudi, not to him. he has to manage it, and make sure there is income, the leases are in order etc. It is not something the Arabs can do sitting in their air conditioned palaces in Riyadh.
you missed the part about fees
ReplyDeleteFees for managing the investment.
ReplyDeleteSo if some other company does it, they get the fees instead.
you clearly didn't read the article!
ReplyDeleteNeither article mentions or measures fees on the investment.
ReplyDeleteAnd if that doesn’t strike you as shady enough, know that not only did the Saudi fund overcome its hesitations and write a very large check to Kushner, it also invested, per The Times, “twice as much and on more generous terms…than it did at about the same time with former Treasury Secretary Steven Mnuchin—who was also starting a new fund—even though Mr. Mnuchin had a record as a successful investor before entering government.” Documents viewed by The Times show the Saudis “agreed to pay Mr. Mnuchin’s firm only a 1 percent asset management fee, compared to 1.25 percent for Mr. Kushner’s,” meaning that on a $2 billion investment, Kushner’s Affinity would be paid at least $25 million a year regardless of profits.
ReplyDeletehttps://www.vanityfair.com/news/2022/04/jared-kushner-saudi-arabia-2-billion-investment
I see.
ReplyDeleteIt's a good business to be in, isn't it?
some people earn even more
ReplyDeleteStaveley's firm, PCP Capital Partners, acted for Sheikh Mansour Bin Zayed Al Nahyan of the Abu Dhabi royal family, who invested £3.5 billion to control 16 percent of the bank. The deal was reported to have earned PCP Capital Partners a commission of £110 million, which, after paying advisers, represented a profit of £40 million.[2][3] Staveley was also involved in Mansour's high-profile purchase of Manchester City F.C. in September 2008.
obviously kushner deserves to earn more than menuchin because he is frum?!
ReplyDeleteHe negotiated a good deal. If you have evidence of anything not kosher, please provide. I'm not vouching for either of them.
ReplyDeletehow?
ReplyDeleteThere is no standard rate for fees. Perhaps mbs likes him more than mnuchin. Oil rich Arabs have a lot magnanimity if they like you. I gave the example of Amanda stavely in England, she got 3x the fee of Kushner. Rachmana and Refuah for her, she has a terrible inherited disease.
ReplyDeleteMaybe Mohammed b. Saw mnuchin munching on chazir, but Kushner kept kosher. These little things make a difference.
ReplyDeleteMaybe he saw money when he saw Kushner but all he saw in nwnuchin was competence
ReplyDeleteso why have you taken dislike to Kushner, more than anyone else? Becaus eof his mechuten?
ReplyDeletedo you have hard evidence that Kushner did something illegal while he was in the Trump administration?
ReplyDeleteMnuchin's eshes yefat toar
ReplyDeletehttps://www.nbcnews.com/politics/politics-news/louise-linton-steve-mnuchin-s-wife-deletes-tweet-support-greta-n1123151
obviously he is just being attacked because of trump if biden or harris did something comparable no republican would say anything?!
ReplyDeletehttps://www.telegraph.co.uk/world-news/2022/04/15/joe-biden-mocked-shaking-hands-thin-air-speech/
ReplyDelete