Dave Kebab reminded me that QinetiQ (who gave evidence to the HAC on 20th April) used to be DERA - the UK's Defence Evaluation and Research Agency. This rang a bell, and I thought I remembered some sort of flotation / privatisation cock-up a couple of years ago.
Well, as it turns out the private investors (the float was abandoned) in QinetiQ are none other than the Carlyle Group, who have a 33% stake in the company. This wouldn't be the same 'ex-presidents' club' Carlyle Group that has massively profited from the 'War on Terror' would it? Oh yes it would!
Former politicians assisting a bunch of (very) private bankers ito pull off lucrative managed defense and aerospace buyouts? Forget fat cats, these guys are two-ton tigers. They won't invest just anyone's money, though - you have to be ultra-rich and connected to play in this game. That's no problem for, e.g. the Bush and Bin Laden families, of course.
I could go on, but instead - if you have a spare 45 minutes & can bear watching teeny telly on the web - here's a programme about the Group that (as they say) you won't find on CNN...