Private equity is a cancer. Its profits come from buying productive firms, loading them with debt, abusing their suppliers, workers and customers, and driving them into ground, stiffing all of them - and the company's creditors. The #mafia have a name for this. They call it a "#BustOut":

https://pluralistic.net/2023/06/02/plunderers/#farben

Private equity destroyed #ToysRUs, #Sears, #BedBathAndBeyond, and many more companies beloved of Main Street, bled dry for Wall Street:

https://prospect.org/culture/books/2023-06-02-days-of-plunder-morgenson-rosner-ballou-review/

5/

Turns out Honk Night ended up meaning Mickey Hart rapping over Fire on the Mountain #deadco #bustout

Fans of the #Sopranos will remember the #BustOut as a mob tactic in which a business is taken over, loaded up with debt, and driven into the ground, wrecking the lives of the business's workers, customers and suppliers. When the mafia does this, we call it a bust out; when Wall Street does it, we call it #PrivateEquity.

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If you'd like an essay-formatted version to read/share, here's a link to pluralistic.net, my surveillance-free, ad-free, tracker-free blog:

https://pluralistic.net/2023/06/02/plunderers/#farbenizers

1/

Here's my videogames #Introduction :

#Zaxxon
#GhanaBwana
#Bustout
#Robotron2048
#Rally-X
#MoonPatrol
#NetHack
#RedAlert

#RetroGaming #RetroComputing #freesoftware #TRS80 #RadioShack #Tandy #ColorComputer