"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...
Predatory behavior has no place in civilized society. Perhaps we need a Financial Anti-Predatory Act that would impose a stiff prison terms on any entity engaging in such behavior.
Vanguard, Black rock and State Street are the three biggest they are the major institutional shareholders in just about every media, health care, chemical and defense industry company in the U.S; and more without exaggeration it can be said that they are USA Inc.
Peace Health in the Pacific NW was created and owned by the Sisters of St Joseph, and as far as I know they still own it, thus set policy like no abortion or end of life assistance.
When ever I do a search for "who owns _______" I invariable come up with Vanguard, Black Rock and State street,plus others
For fans of the Resident, you might recall that Chastain memorial, a non profit, was sold to a Doctors conglomerate then sold to Red Rock, and at that point it became a profit center, with patients that didn't have insurance even turned away from Emergency or dying in the hall on gurney's.
However they have contracted their services, operation, to Black Rock, and quality of care is degraded. Physicians are held to a 15 min per patient schedule, unless the expected case will require more, If they run over with one patient they have to make it up with another.
Here's what I said at the time. Republicans screwing Republicans.
People who represent creditors in bankruptcy often describe the law as "legalized theft." Consider the employees and suppliers, contractors, subcontractors etc. All are usually "screwees" in that if they are lucky, they get a fraction of their debit. In many cases, the phenomenon that Thom is describing, starts a ripple effect and those employees and suppliers, contractors, subcontractors etc. have to seek bankruptcy protection.
A judge in bankruptcy has the capacity to act as a hypothetical lien creditor and knock out "preferential transfers" usually 90 days prior to filing.
Want to flip MAGATS? Head to bankruptcy court. Give them Thom's article and ask if it sounds familiar.
BTW most of the debtors are there due to medical bills. Also inchoate Democrats.
Every MAGAt is an inchoate Democrat, yet they are loyal to Trumpism (not Trump)
and I find it hard to understand how that can be so, then I learn that the Teamsters Union is taking a neutral position in the election, because 58% of the union are Trump humpers, and it doesn't take much to understand why. Truckers spend their work day in trucks, listening to the only radio available, Hate Radio, Sinclair, I Heart, etc.
The well has been poisoned and it started with Rush, continues the Glen Beck and a thousand over shock jocks.
But it isn't that alone, as my wife told me, you have lonely, sexually frustrated men, fantasizing and pissed at the world because they are sexually frustrated and need to blame their situation on something outside of themselves.
And prosecutions. The best regulations, not enforced, result in the public paying for Sadistic, Deliberate, Malpractice. But not care for your health. Merely insurance, under that guise, and acting as an auto-payer to the criminals.
HORRIBLE!!!! Sounds like a meat packing plant to me!😡😡😡😡😡😡 These predators need to be held accountable! They are also partly responsible for the unaffordable rents and mortgages in this country!!!
I remember reading this excellent article by Thom Hartmann. Amoung the sins described was the purchase of a senior care facility that owned its building. They sold the building and told the people running the company they had to raise prices in order to pay the rent. These are the actions of someone who has no concern for the mission or health of the company. This article literally made me want to punch somebody. A lot.
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.
We have to stop the ruinous behavior in healthcare, absolutely ridiculous, they are looting the system while hospitals and providers are getting nickle and dimed. Over 700 hospitals, mostly rural, in danger of closing short term, expenses rising unsustainably simply for the unbridled greed of PE ... absolutely unacceptable.
Several in my congested area have closed too! Trying to get an ambulance through city traffic halfway across town because the neighborhood hospital closed is literally a matter of life and death
Private equity reminds me of a Lamprey Ell. They attach themselves to a victim, they drain its life force and then they detach and find someone new to torment. Leaving only a scar to represent their past efforts. All the while getting fatter and fatter.
How wonderful to have pulled this video explainer together for us all in such a short time. Everyone at Inequality Media is fantastic. Thank you Robert and Heather et al.
Same here. Private equity just bought out our local veterinarian. We’ll be switching when we find a small shelter dog to keep us company in our dotage.
IT workers earn good money and spend thousands on pet care. They are an attractive prey for venture capitalists. Yet maternal mortality in the US is the worst in the developed world.
Cats are better in your dotage, you don't have to walk them. Dogs require walking, a good exercise when physically capable and weather permits, a little more difficult when you has deficits, and in inclement, freezing, weather and snows.
Private equity has taken over a high percent of Salem, Oregon veterinary clinics. Pity our poor pets!! Incredible price gouging and seriously bad service: oftentimes there was not a vet around for miles, only slightly trained "techs" who conferred with licensed folks 2 or 3 States away. Awful, plain frigging awful!!
It is a fee structure masquerading as an asset class. 75% of all PE funds underperform the S&P 500 stock market index. Meaning, all of those funds are gouging public pension funds and all other investors with exorbitant fees, in exchange for illiquidity and lousy performance. It is a great industry for its general partners, but bad for everyone else.
Ah - that is plainly true... but those fund managers are in the business of producing returns - meaning that they have to try to find performance wherever they can; when the herd appeared to be running to the drum of private equity, the funds followed - and then private equity - and next... ("There's always a bull market somewhere-")
Yes they are buying veterinary clinics, mobile home parks, housing, doctor offices and more. They are constantly finding new scams to take our money. Start calling the Predatory Investors instead of Private Equity.
Half of America is blaming the higher prices of gas and food on a President.
Could you give your thoughts on this?
I believe it to be the best corporate scam in history. Raise prices during a pandemic, make record profits, get half of the people to blame a President.
I found out that both my vet and our main hospital in Santa Fe "Christus" (blaspheming the name with for-profit health"care") St. Vincent are owned by private equity. I had to trace it up several levels of who owns what. I love our vet but when he retires will try to find a locally-owned vet if possible. Some private equity firm in Germany owns it, which is why my cat's teeth-cleaning and a couple of extractions cost over $1500 when a few years ago it would have been around $500.
Why my younger sister had to drive almost 30 miles to get to the Vet when her cat got sick! And why my colleagues and I are still working FT at 70+ because our insurance covers things that Medicare won't.
I have a friend who was a senior management person at TWA and she will never forgive Karl Icann for destroying that company. Private equity is currently destroying our health care system and will continue to destroy our corporations until "shareholder value" is no longer the sole focus of businesses. This can only be done via Federal government law.
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
Predatory behavior has no place in civilized society. Perhaps we need a Financial Anti-Predatory Act that would impose a stiff prison terms on any entity engaging in such behavior.
Vanguard, Black rock and State Street are the three biggest they are the major institutional shareholders in just about every media, health care, chemical and defense industry company in the U.S; and more without exaggeration it can be said that they are USA Inc.
Peace Health in the Pacific NW was created and owned by the Sisters of St Joseph, and as far as I know they still own it, thus set policy like no abortion or end of life assistance.
When ever I do a search for "who owns _______" I invariable come up with Vanguard, Black Rock and State street,plus others
For fans of the Resident, you might recall that Chastain memorial, a non profit, was sold to a Doctors conglomerate then sold to Red Rock, and at that point it became a profit center, with patients that didn't have insurance even turned away from Emergency or dying in the hall on gurney's.
However they have contracted their services, operation, to Black Rock, and quality of care is degraded. Physicians are held to a 15 min per patient schedule, unless the expected case will require more, If they run over with one patient they have to make it up with another.
Here's what I said at the time. Republicans screwing Republicans.
People who represent creditors in bankruptcy often describe the law as "legalized theft." Consider the employees and suppliers, contractors, subcontractors etc. All are usually "screwees" in that if they are lucky, they get a fraction of their debit. In many cases, the phenomenon that Thom is describing, starts a ripple effect and those employees and suppliers, contractors, subcontractors etc. have to seek bankruptcy protection.
A judge in bankruptcy has the capacity to act as a hypothetical lien creditor and knock out "preferential transfers" usually 90 days prior to filing.
Want to flip MAGATS? Head to bankruptcy court. Give them Thom's article and ask if it sounds familiar.
BTW most of the debtors are there due to medical bills. Also inchoate Democrats.
Every MAGAt is an inchoate Democrat, yet they are loyal to Trumpism (not Trump)
and I find it hard to understand how that can be so, then I learn that the Teamsters Union is taking a neutral position in the election, because 58% of the union are Trump humpers, and it doesn't take much to understand why. Truckers spend their work day in trucks, listening to the only radio available, Hate Radio, Sinclair, I Heart, etc.
The well has been poisoned and it started with Rush, continues the Glen Beck and a thousand over shock jocks.
But it isn't that alone, as my wife told me, you have lonely, sexually frustrated men, fantasizing and pissed at the world because they are sexually frustrated and need to blame their situation on something outside of themselves.
The health care market, if we may call it that, is notoriously inelastic. It calls for strict regulation.
And prosecutions. The best regulations, not enforced, result in the public paying for Sadistic, Deliberate, Malpractice. But not care for your health. Merely insurance, under that guise, and acting as an auto-payer to the criminals.
HORRIBLE!!!! Sounds like a meat packing plant to me!😡😡😡😡😡😡 These predators need to be held accountable! They are also partly responsible for the unaffordable rents and mortgages in this country!!!
Thanks for the link, Bret. I’ll follow up after I get my tea and cookies.
I remember reading this excellent article by Thom Hartmann. Amoung the sins described was the purchase of a senior care facility that owned its building. They sold the building and told the people running the company they had to raise prices in order to pay the rent. These are the actions of someone who has no concern for the mission or health of the company. This article literally made me want to punch somebody. A lot.
Nor any concern for the seniors there.
Many of whim have no where else to go
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.
I call it "Pirate Equity."
That is an insult to pirates!
Well said
We have to stop the ruinous behavior in healthcare, absolutely ridiculous, they are looting the system while hospitals and providers are getting nickle and dimed. Over 700 hospitals, mostly rural, in danger of closing short term, expenses rising unsustainably simply for the unbridled greed of PE ... absolutely unacceptable.
Several in my congested area have closed too! Trying to get an ambulance through city traffic halfway across town because the neighborhood hospital closed is literally a matter of life and death
Private equity reminds me of a Lamprey Ell. They attach themselves to a victim, they drain its life force and then they detach and find someone new to torment. Leaving only a scar to represent their past efforts. All the while getting fatter and fatter.
Call it Cannibalistic Capitalism. It sucks the life out of society for the benefit of the few.
How wonderful to have pulled this video explainer together for us all in such a short time. Everyone at Inequality Media is fantastic. Thank you Robert and Heather et al.
Private equity has surely purchased dental practices and veterinary practices in Alameda Co., CA.
Same here. Private equity just bought out our local veterinarian. We’ll be switching when we find a small shelter dog to keep us company in our dotage.
IT workers earn good money and spend thousands on pet care. They are an attractive prey for venture capitalists. Yet maternal mortality in the US is the worst in the developed world.
Cats are better in your dotage, you don't have to walk them. Dogs require walking, a good exercise when physically capable and weather permits, a little more difficult when you has deficits, and in inclement, freezing, weather and snows.
Private equity has taken over a high percent of Salem, Oregon veterinary clinics. Pity our poor pets!! Incredible price gouging and seriously bad service: oftentimes there was not a vet around for miles, only slightly trained "techs" who conferred with licensed folks 2 or 3 States away. Awful, plain frigging awful!!
I suspect the tentacles reach very far and wide as the video indicates.
Also, here in Wisconsin.
I wonder if that’s why I had to choose between a $3500.00 down payment for a reliable car or get my teeth fixed? RIDICULOUS!!!!!
Another operation that is out of control in our nation! Who is watching these economic activities?
Has Congress noticed this harsh action? Or do they even care? Maybe they a party to the move?
Anything to make a wad of money! Sounds like a Trump family interest!
Applebaum explains a lot in her book "Autocracy Inc." Sick scumbags are doing this to us.
Thanks on my Amazon list! (Anne A is marvelous writer!)
Probably is!!!!
It is a fee structure masquerading as an asset class. 75% of all PE funds underperform the S&P 500 stock market index. Meaning, all of those funds are gouging public pension funds and all other investors with exorbitant fees, in exchange for illiquidity and lousy performance. It is a great industry for its general partners, but bad for everyone else.
Ah - that is plainly true... but those fund managers are in the business of producing returns - meaning that they have to try to find performance wherever they can; when the herd appeared to be running to the drum of private equity, the funds followed - and then private equity - and next... ("There's always a bull market somewhere-")
Yes they are buying veterinary clinics, mobile home parks, housing, doctor offices and more. They are constantly finding new scams to take our money. Start calling the Predatory Investors instead of Private Equity.
I believe that ‘Blood Sucking Parasites’ would be a better description… I believe that $$$ is their True God, and they consider themselves Righteous…
🧛♂️ Vampires
Diane Beaulaurier, or vampires.
Half of America is blaming the higher prices of gas and food on a President.
Could you give your thoughts on this?
I believe it to be the best corporate scam in history. Raise prices during a pandemic, make record profits, get half of the people to blame a President.
Alot of MAGAS are blaming Biden for high prices! Tell them to do their research and they will only read articles with pictures
I think this is one of Bob's best videos, and such an important topic that most people don't understand.
Jane Andrews, San Diego
Dark Money by Jane Mayer will be eye opening as well.
I found out that both my vet and our main hospital in Santa Fe "Christus" (blaspheming the name with for-profit health"care") St. Vincent are owned by private equity. I had to trace it up several levels of who owns what. I love our vet but when he retires will try to find a locally-owned vet if possible. Some private equity firm in Germany owns it, which is why my cat's teeth-cleaning and a couple of extractions cost over $1500 when a few years ago it would have been around $500.
Why my younger sister had to drive almost 30 miles to get to the Vet when her cat got sick! And why my colleagues and I are still working FT at 70+ because our insurance covers things that Medicare won't.
I have a friend who was a senior management person at TWA and she will never forgive Karl Icann for destroying that company. Private equity is currently destroying our health care system and will continue to destroy our corporations until "shareholder value" is no longer the sole focus of businesses. This can only be done via Federal government law.
Yes, and this is why Project 2025 is about destroying the federal government. It is a corporate wet dream, a nightmare for humankind.
💙💙💙💙💙💙💙💙🩵
Let's hear it for the corporate raiders! Ugh...
Isn't Mitt Romney a corporate raider? Asking for a friend.