The halls and stuffy offices of Capitol Hill are not familiar terrain for Henry Kravis. But The New York Times reports that he went to Washington this week for some good old-fashioned flesh pressing. (The Times headline: Capra Rolls Over.) He reminded one Michigan representative that his deals have created jobs in his home state. Kravis is not alone. Steve Schwarzman also recently paid a visit. They are being wise--proposals that would tax their carry gains would be a huge issue. Their paychecks are certainly threatened. This whole issue will unfold over the next year or so. But you have to give the industry credit for jumping on the issue. You might see this as a cultural watershed. The super rich lobbying to keep their favorable treatment. The industry would be wise to focus on how they have benefited pensions and thus the common man.

For more:
- here's the article from The New York Times