Only six months after leaving the White House Jared Kushner,
was able to secure a $2 billion dollar investment from the Saudis.
Now, the details surrounding this deal make it abundantly clear that he
was able to capitalize on his close ties to Donald Trump.
And, even though he did not have the expertise or a good track record
to secure this investment, it didn't matter, favor for a favor.
Let me give you the details and you'll know what I mean.
So a panel that screens investments for the main Saudi sovereign wealth fund,
actually cited concerns about the proposed deal with Kushner's
newly formed private equity firm, Affinity Partners.
And those objectives included many issues,
including the inexperience of the Affinity Fund management.
The possibility that the kingdom would be responsible for
the bulk of the investment and risk.
Due diligence on the fledgling firms operations that found
them unsatisfactory in all aspects,
a proposed asset management fee, that seems excessive.
And public relations risks,
from Kushner's prior role as a senior adviser to Donald Trump.
So there are all these issues at play.
Members of this Saudi fund, bring these issues up,
and it seems like they're poised to reject the deal.
And then, seems like MBS got involved, Mohammed Bin Salman
who is the Saudi Crown Prince, and why would MBS get involved?
Well, it could be a tip for tat favor for a favor type issue,
Kushner played a leading role, for instance,
inside the Trump administration defending Crown Prince Mohammed bin Salman.
After US intelligence agencies concluded that he had approved,
the 2018 killing and dismemberment of Jamal Khashoggi.
So, MBS orders the assassination, and dismemberment of a US resident and
Washington post journalist, Jamal Khashoggi.
And if you guys can recall, immediately following that story,
all we heard from the Trump administration,
was this effort to provide cover, for the Saudis.
To essentially prevent MBS from facing any type of backlash, public criticism,
and we had suspected that there are some financial matters at play.
Why is Trump, and Jared Kushner so aggressively trying to provide cover,
for someone who ordered the assassination and dismemberment,
of the Washington post journalist.
Well now we kind of have the answer now.
So, Kushner also helped broker a $110 billion sale in
weapons to Saudi Arabia over10 years.
He helped protect those and other weapons deals from congressional outrage.
Over the murder of Mr Khashoggi and the humanitarian catastrophe created,
by the Saudi led military intervention in Yemen.
And so if you're providing these favors for Saudi Arabia, and
if you're specifically providing cover for
MBS after he orders an assassination, well, you're gonna get repaid somehow.
And the way that you get repaid, Is through a $2 billion
dollar investment deal, when you have absolutely no right.
And really there's no reason, to secure this kind of deal because
of all of the red flags that were raised by the fund's board members.
Now Kushner planned to raise up to $7 billion dollars in all for
this private equity firm.
But so far he appears to have signed up few other major investors.
In its most recent public filings with the Securities and
Exchange Commission dated March 31.
Kushner's firm reported that its main fund had $2.5 billion dollars under management,
so not close to seven billion, almost entirely from investors based overseas.
Most of that appears to be the $2 billion dollars from Saudi Arabia,
like no one wants to give the homeboy any capital, right?
For all the reasons, all the red flags that were listed earlier,
the inexperienced the incompetence, loser upon.
I mean, you look at how he handled his family's real estate business,
complete failure, complete failure.
And so, he had no business, securing this kind of investment.
The only way he could secure this kind of, and by the way that's proven,
by the fact that no one else is investing in this private equity firm that he has
created, okay?
The only way he's able to secure the money,
is if a mob boss, he's able to cash in on the favor, and
in this case it's a $2 billion dollar favor.
So, few more details for you, the Saudi fund agreed to invest twice as much,
and on more generous terms with Kushner than it did,
at about the same time with former Treasury Secretary Steve Mnuchin.
Who was also starting a new fund, even though Mr Mnuchin had a record as
a successful investor before entering government the documents show.
The amount of the investment in his firm Liberty Strategic Capital,
was $1 billion, and it wasn't previously disclosed.
So, listen, I think they're both bad, okay?
You have former trump administration officials,
it's the revolving door of politics,
as soon as they're out of the White House, they cashed in, on their power.
This is the way it works, and there should be laws against it.
So, while Steve Mnuchin might have a better track record in
the financial industry.
I still think it's a problem, that he took advantage of his role in
the Trump White House, in order to secure, some of these investments himself.
But with that said, there is a clear difference between Mnuchin, and Kushner.
Mnuchin has a record, he has experience in this line of work if you
wanna call it that, whereas Kushner has no experience.
Remember, the Republican Party, including Trump administration officials,
Trump advisors, all of these people that surround Trump.
Will not stop talking, about Hunter Biden,
getting a role, on a Ukrainian Gas Company's board.
The big argument is, well Hunter Biden didn't have expertise for that role, and
he was able to get that job, which was very lucrative $40,000 a month.
Because of the fact that he's Hunter Biden's son,
to which I say obviously, I don't like it either, but nepotism.
The connections that are afforded to children who have wealthy
powerful parents, that's like as American as apple pie.
Let's just keep it real, I'm not saying I like it, I actually hate it.
But to, make a big deal about Hunter Biden working for a Ukrainian gas company,
and then to turn around, and say that it's not a big deal?
That Jared Kushner Trump's son in law, who served as an official
White house advisor, he shouldn't be held accountable for this.
This isn't a problem at all, it's not a problem,
when they cash in on their connections.
But Republicans have no problem using the kind of talking points that they've been
using against Hunter Biden, because they don't care.
They don't care about the hypocrisy, they understand power, they understand optics,
they understand political messaging.
You think Democrats are gonna make a big deal out of this Jared Kushner issue?
Of course they're not.
I mean if I were a democrat, I'd be campaigning on this right now,
I would not shut up about it.
So, the Saudis also agreed to pay, Mnuchin firm only a 1% asset
asset management fee compared to 1.25 percent for Kushner's.
The documents indicate, on a $2 billion investment, that would pay his firm,
25 million a year, not including a share of any profits earned, by Affinity fund.
So, Jared Kushner was able to secure a much better deal.
Let's keep it real,
because he helped Mohammed bin Salman provided cover for him.
But also more importantly, he's former president Trump's son in law.
This is how it works, it's gross, we all hate it.
I just think it's fascinating how,
asymmetrical the coverage on these issues happens to be.
Nonstop day in day out Hunter Biden's laptop,
homeboy didn't even serve in the White House in any official capacity.
Yes, took advantage of his name, took advantage of his ties to his own father.
Took advantage of that power to secure a job that he had no business securing,
I get it.
But to turn around, and make a big deal about that, while minimizing
Jared Kushner's behavior, is just fascinating to me, really is.