Excerpt From
These Are the Plunderers p. 310
Gretchen Morgenson & Joshua Rosner

#privateEquity #books #nonfiction #kkr #predatoryCapitalism #leonBlack #apollo #blackstone #forbes

Excerpt From
These Are the Plunderers p. 287
Gretchen Morgenson & Joshua Rosner

#privateEquity #books #nonfiction #kkr #predatoryCapitalism #leonBlack #apollo #pensions #retirement
/5

“If there’s a profit in it, then they’ll do it. They’re not going to do a single thing that doesn’t benefit them, first and foremost.”

Excerpt From
These Are the Plunderers p. 268
Gretchen Morgenson & Joshua Rosner

#privateEquity #bookstodon #nonfiction #predatoryCapitalism #hospitals #medicare #healthcare #stewartHealthCare #stewartHealth #nashobaValley

“Private equity–backed health care has been a disaster for patients and for doctors,” said Mark Reiter, residency program director of emergency medicine at the University of Tennessee. “Many decisions are made for what’s going to maximize profits for the private equity company, rather than what is best for the patient, what is best for the community.”

These Are the Plunderers
Morgenson & Rosner

#privateEquity #bookstodon #nonfiction #kkr #predatoryCapitalism #hospitals #medicare #healthcare

“When COVID-19 hit, hospitals owned by private equity firms were among the first to cut their workers’ pay and benefits because their operations could no longer generate profits on elective surgical procedures delayed due to the pandemic.”

Excerpt From
These Are the Plunderers
Gretchen Morgenson & Joshua Rosner

#privateEquity #bookstodon #nonfiction #kkr #predatoryCapitalism #nursingHome #medicare

“Expecting to extract what they can from the investments over only a few years, the pirates [private equity] don’t care about the long-term impact these operations will have. By the time of any reckoning, they plan to have taken their profits and left the scene.”

Excerpt From
These Are the Plunderers
Gretchen Morgenson & Joshua Rosner

#privateEquity #bookstodon #nonfiction #kkr #predatoryCapitalism

Excerpt From
These Are the Plunderers
Gretchen Morgenson & Joshua Rosner

#privateEquity #bookstodon #nonfiction #kkr #predatoryCapitalism

These Are the Plunderers, p 204,
Gretchen Morgenson & Joshua Rosner
#privateEquity #bookstodon #nonfiction #kkr #predatoryCapitalism #emergencyroom #healthCare #enVision #EmCare

“A 2021 nursing home study published by the National Bureau of Economic Research [..] showed nursing homes owned by private equity firms experienced 10 % more resident deaths than occurred in facilities not owned by private equity. Some twenty thousand additional lives were lost at private equity–backed nursing homes during the years studied of 2005 to 2017..”

These Are the Plunderers
Gretchen Morgenson & Joshua Rosner
#privateEquity #bookstodon #nonfiction #CarlyleGroup #predatoryCapitalism

“Congress eased other rules for wealthy investors and investment funds. The Taxpayer Relief Act of 1997 cut capital gains taxes from 28 percent to 20 percent and raised the amounts exempted from estate tax levies. The administration also made it easier for foreign private investment funds to invest in the U.S. without subjecting their profits to U.S. taxes.”

These Are the Plunderers
Gretchen Morgenson & Joshua Rosner
#bookstodon #Nonfiction #privateEquity #predatoryCapitalism

It took until 1999 for Rubin to finish the job, but after he did, he went on to earn tens of millions at Citigroup, an institution that benefitted from his activities and had to be bailed out three times by taxpayers in 2008.”

These Are the Plunderers
Gretchen Morgenson & Joshua Rosner
#bookstodon #Nonfiction #privateEquity #predatoryCapitalism #glassSteagall #billClinton #robertRubin

“Time and again, Garamendi’s “fire sale approach” would have the same result: enriching Apollo at the expense of Executive Life’s policyholders. ”

Excerpt From
These Are the Plunderers
Gretchen Morgenson & Joshua Rosner
#johnGaramendi #privateEquity #leonblack #predatoryCapitalism

‘Charles Tate, a founder of buyout firm Hicks, Muse, Tate & Furst, noted, with clarity: “When you put too much debt on a company, it becomes dysfunctional, when a company is spending its whole time trying to meet the next interest payment, it can’t concentrate on the business.”’

These Are the Plunderers
Gretchen Morgenson & Joshua Rosner

#privateEquity #bookstodon #nonfiction #theseAreThePlunderers #financialization #predatoryCapitalism

1988 RJR Nabisco $25 buyout: “Everyone knew LBOs [Leveraged Buyouts] meant deep cuts in research and every other imaginable budget, all sacrificed to pay off debt. Proponents insisted that companies forced to meet steep debt payments grew lean and mean. On one thing they all agreed: The executives who launched LBOs got filthy rich.”

These Are the Plunderers
Gretchen Morgenson & Joshua Rosner

#privateEquity #bookstodon #nonfiction #theseAreThePlunderers #financialization #predatoryCapitalism

Exarcheia: A year of occupation and the struggle for public space - Freedom News

https://freedomnews.org.uk/2023/08/10/exarcheia-a-year-of-occupation-and-the-struggle-for-public-space/?utm_source=rss&utm_medium=rss&utm_campaign=exarcheia-a-year-of-occupation-and-the-struggle-for-public-space

While the permanent police presence in the heart of Exarcheia is worrying in some ways, it is less dangerous than the future heralded by the construction work.
The residents of Exarcheia are not alone in their struggle to defend their neighbourhood from the economic forces rapidly reshaping Greece. The combined effects of property investment, privatisation and unchecked tourism are making themselves felt across the country.

#resistance #greece #exarcheia #hegemony #privatisation #exploitation #neoliberalism #predatorycapitalism

@blinkygal Welcome to #PredatoryCapitalism

Oceans Hit Hottest Average Temperature ever Recorded, endangering Ecosystems on which We Depend
https://www.juancole.com/2023/08/temperature-endangering-ecosystems.html

It blows my mind how BigBiz is so totally blinded by the need to keep increasing profits, no matter the cost to humanity and the planet.

#ClimateCrisis #Capitalism #PredatoryCapitalism

Inside Love is Blind’s Brutal Conditions on Set - YouTube
https://www.youtube.com/watch?v=DaMOpPBNqbs

If you watch any form of "reality" TV, I recommend watching this vid.

#Capitalism #PredatoryCapitalism #RealityTV

This One Company Controls America’s Entire Health Care System - YouTube
https://www.youtube.com/watch?v=frr4wuvAB6U

"Why are so many doctors being forced to take out payday loans to make ends meet? Trying to answer this question led us to a giant monopoly that's been slowly plundering every part of our health care system."

What a horrifically corrupt system!

#Capitalism #PredatoryCapitalism #Healthcare #Insurance #HMO #Neoliberalism

BP’s £2bn profits cause anger amid climate crisis | BP | The Guardian
https://www.theguardian.com/business/2023/aug/01/bp-profits-climate-crisis-oil-prices

"BP’s profits have fuelled growing anger at fossil fuel companies among green groups, which have accused the oil companies of “obscene” profits at the expense of hard-pressed families and the environment."

#FossilFuels #Capitalism #PredatoryCapitalism #BigOil #ClimateCrisis