Yesterday, I published a brief analysis of Elizabeth Warren's plan to close the loopholes that allows private equity to defraud investors, creditors and workers to make billions while destroying the real economy. Today, I'm going to suggest that you read Yves Smith's analysis of the proposal on Naked Capitalism. Private equity is one of the most politically and economically consequential forces in the USA and the world today, behind much of our inequality, looting, and policy dysfunctions. Private equity is a bezzle, protected by deliberately dull layers of obfuscation and complexity that allows its practicioners to claim that the reason they seem to be out-and-out crooks is that none of us are smart enough to figure out what they're doing. Warren isn't buying it.
A Deep Dive Into Elizabeth Warren's Plan To Tame Private Equity
Cory Doctorow, Boing Boing
Tue, 07/23/2019 - 8:35am
Topics: yesterday today eileen appelbaum rosemary batt as smith congress senate medicare overton window aoc here elizabeth warren seeks cut private equity down size yves smith/naked image adam jones warren elizabeth warren yves smith naked capitalism private appelbaum batt sanders investors proposal real estate workers bankruptcy dividend strategy analysis looting set political point restriction dividends company two-year giving
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