The truth about private equity
robertreich.substack.com
Friends,
In light of my post this morning about Carl Icahn, many of you expressed an interest in knowing more about private equity. I and my talented young colleagues produced the following video which, I hope, answers your questions.
RR
Thom Hartmann wrote a good piece on this in
"Is Private Equity as Dangerous to Your Dog as Kristi Noem?"
Fully 20% of American business is now controlled by private equity, which is draining billions out of our economy every week to stash in the money bins of its morbidly rich owners...
Thom Hartmann
May 13, 2024
https://hartmannreport.com/p/is-private-equity-as-dangerous-to-615?utm_source=post-email-title&publication_id=302288&post_id=144563005&utm_campaign=email-post-title&isFreemail=false&r=1bto4q&token=eyJ1c2VyX2lkIjo4MDMyNjI1MCwicG9zdF9pZCI6MTQ0NTYzMDA1LCJpYXQiOjE3MTU2MDgwNDgsImV4cCI6MTcxODIwMDA0OCwiaXNzIjoicHViLTMwMjI4OCIsInN1YiI6InBvc3QtcmVhY3Rpb24ifQ._TlWehDiorbtRJw-8gC5ixbUic9BYxnfpcC0ZUZTCDw&triedRedirect=true
Thank you, Robert. Particularly disgusting is the involvement of private equity firms in for-profit medical care. 'Medical' and 'profit' don't fit together in an advanced society. These firms are like a school of leeches upon the less fortunate. My brother, after having a coronary bypass, suffered the added trauma of a 'surprise' $20000 bill because some of his surgical services were 'out of district'.
Then Ascension Medical Group in Wisconsin placed the bill into collections, which turned into a twice- weekly harassment project by the agency. People who run these firms are criminals against society.