David Corn: Why the Hell Isn't Jared Kushner's $2 Billion Saudi Payment a Big Scandal? [View all]

[babylonsister]

https://www.motherjones.com/politics/2022/04/why-the-hell-isnt-jared-kushners-2-billion-saudi-payment-a-big-scandal/

2 hours ago
Why the Hell Isn’t Jared Kushner’s $2 Billion Saudi Payment a Big Scandal?
Anyone remember Billygate?
David Corn


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Billygate is a good point of reference when assessing what could be called Jaredgate. On April 10, the New York Times revealed that Jared Kushner, son-in-law and adviser of the 45th president, secured a $2 billion investment for his new private equity firm, Affinity Partners, from a fund controlled by the Saudi crown prince—even after advisers to the Saudi fund raised serious objections to the investment. The screening panel for the Saudi fund had cited “the inexperience of the Affinity Fund management”; an “unsatisfactory in all aspects” due diligence report; a proposed asset management fee that seemed “excessive”; and “public relations risks.” Yet the panel was overruled by the fund’s board, which is headed by Crown Prince Mohammed bin Salman, Saudi Arabia’s autocratic de facto leader, who, according to US intelligence, green-lit the operation that resulted in the assassination of journalist Jamal Khashoggi.

It’s damn hard to not see the $2 billion investment as either a payoff for past services rendered or a preemptive bribe should Trump manage to regain the White House. And it could be both. It’s a wonder that the disclosure of this deal hasn’t created more of a fuss and prompted congressional investigations. (Imagine what Republicans and Fox News would be doing if Hunter Biden received $2 billion from a Ukrainian government leader who was responsible for the gruesome murder of an American resident.) A 10-figure payment to a relative of a former president who is essentially the current (though undeclared) GOP frontrunner in the 2024 contest and possibly the next inhabitant of the White House is a major scandal.

Or it should be.

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Whatever the past or future quid pro quos, if any, this deal stinks and demands congressional scrutiny. Allowing foreign authoritarians to shower billions of dollars upon family members of past, present, or future presidents is ethically wrong but carries a greater threat. As Ali Al-Ahmed, the director of the Institute for Gulf Affairs, wrote in the Washington Post, “The prospect of a dictator using his deep pockets to wield influence at the highest levels of the U.S. political system should be cause for serious concern and targeted action. Not all attacks on American democracy will take the shape of violent insurrections—the corruption of the Saudi-Kushner deal is an attack on democracy, too.”

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The Trump cosmos is full of grift and scandal. And what’s $2 billion compared to an attempt to overturn an election and incite violent insurrection? But in a world of never-ending Trump sleaze, this shady venture does stand out as especially egregious. At the very least, Kushner deserves the Billygate treatment.