From a Sacremento paper:
Family of Osama bin Laden cutting ties with Carlyle Group
>>
>> By MARCY GORDON, Associated Press
>>
>> WASHINGTON (AP) - Osama bin Laden's wealthy family in Saudi Arabia is
>> severing its financial ties with the Carlyle Group, a
>> politically-connected U.S. private investment firm, by mutual agreement, a
>> source familiar with the relationship said Friday.
>>
>> The bin Laden family decided to sell its investment worth $2.02 million
>> back to the firm mainly because of public controversy over its stake in a
>> Carlyle fund that invests in buyouts of military and aerospace companies,
>> said the source, who spoke on condition of anonymity. The source was
>> confirming a report in Friday's editions of The New York Times.
>>
>> There had been criticism in Saudi Arabia after the Sept. 11 terror
>> attacks that the family, which disowned exiled Islamic militant Osama bin
>> Laden years ago, might profit from increased military spending in the U.S.
>> war against terrorism. The family, whose construction company is one of
>> the largest in the Middle East, also has invested with a number of other
>> investment funds and financial institutions around the world, reportedly
>> including U.S. financial services giant Citigroup, Deutsche Bank of
>> Germany and the Dutch bank ABN Amro.
>>
>> Carlyle has some $14 billion in assets under management. Its chairman is
>> Frank Carlucci, a former U.S. defense secretary. Former President George
>> Bush, former secretary of state James Baker and Arthur Levitt, who had
>> been chairman of the Securities and Exchange Commission through most of
>> the Clinton administration, are senior advisers to the firm.
Bush/Bin Laden Family Cut Ties
