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Lutnick reviews Pentagon deals with Cerberus amid conflict-of-interest concerns
The U.S. Department of Defense has selected Commerce Secretary Howard Lutnick to oversee the review of any transactions between the Pentagon and companies linked to Cerberus Capital Management, according to Bloomberg, citing a U.S. official.
Cerberus, the private-equity firm founded by Deputy Defense Secretary Stephen Feinberg, holds extensive national-security interests, including companies that won contracts with the Defense Department during his tenure. Lutnick's role places on him the responsibility of scrutinizing transactions involving a firm that deals with the investment bank he once led before joining the Trump administration last year.
Feinberg brought four former company executives into the Pentagon. Two of them oversee the Office of Strategic Capital and the Economic Defense Unit, which are tasked with strengthening supply chains for critical resources. Under Feinberg, the Pentagon has begun, in addition to issuing loans, taking equity stakes in companies it considers essential to national security.#ZECHitsANewAllTimeHigh #BitcoinETFsBiggestDailyInflowSinceJanuary #USAugustJobGrowthNearlyTriplesForecast #USAugustAvgHourlyEarningsRise3.1% #USAugustNonfarmPayrollsDueToday
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$XAU
Lutnick reviews Pentagon deals with Cerberus amid conflict-of-interest concerns
The U.S. Department of Defense has selected Commerce Secretary Howard Lutnick to oversee the review of any transactions between the Pentagon and companies linked to Cerberus Capital Management, according to Bloomberg, citing a U.S. official.
Cerberus, the private-equity firm founded by Deputy Defense Secretary Stephen Feinberg, holds extensive national-security interests, including companies that won contracts with the Defense Department during his tenure. Lutnick's role places on him the responsibility of scrutinizing transactions involving a firm that deals with the investment bank he once led before joining the Trump administration last year.
Feinberg brought four former company executives into the Pentagon. Two of them oversee the Office of Strategic Capital and the Economic Defense Unit, which are tasked with strengthening supply chains for critical resources. Under Feinberg, the Pentagon has begun, in addition to issuing loans, taking equity stakes in companies it considers essential to national security.#ZECHitsANewAllTimeHigh #BitcoinETFsBiggestDailyInflowSinceJanuary #USAugustJobGrowthNearlyTriplesForecast #USAugustAvgHourlyEarningsRise3.1% #USAugustNonfarmPayrollsDueToday
