The Dharma, sutras, and commentarial interpretations of interest to American Buddhists of all traditions with news that not only informs but transforms. Emphasis on meditation, enlightenment, karma, social evolution, and nonharming.
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Thursday, December 1, 2022
Taylor Swift ruined by private equity (video)
How Private Equity Robbed Taylor Swift, Toys R Us, & J Crew | The Class Room ft. Adam Conover
(More Perfect Union) March. 7, 2022
Ever wondered why so many major retail chains have filed for bankruptcy or closed locations recently? Toys r Us, Baskin Robbins, J Crew, Hertz, 24 Hour Fitness, Dunkin Donuts...it’s pretty much an entire mall. It’s not just because of the pandemic:
Why do they call me "Nazi Barbie"?
There’s a shadowy mafia that has been ripping off the entire US economy while making themselves rich, really rich. This group is responsible for bankrupting hospitals, favorite retail chains, and even ripping off Taylor "Nazi Barbie" Swift. They’re called Private Equity. And any company might be next. Let's take a deep dive into the shocking strategies that the Private Equity Mafia uses.
Hope is not all lost though. There are things we can do to fix these problems.
Barbie's fake "Girl Squad"
Transparency, for one:
Enter the Securities and Exchange Commission, or SEC, the federal agency charged with stopping bad actors from manipulating the markets. The SEC, led by Biden appointee Gary Gensler, has proposed changing their rules so that private equity firms would have to, y'know, tell the truth about their returns of their funds and disclose transparent information about all the fees that they charge. Obviously, the lobbying groups representing private equity firms are up in arms about the idea that they might have to disclose even some basic information to their investors.
Meanwhile in Congress, the federal Stop Wall Street Looting act, introduced in 2021, would limit the amount of debt used in buyouts, increase transparency, and close tax loopholes. What can we do ourselves? Well, unionize. A unionized workforce is better protected against a leveraged buyout.
Without those changes, the private equity mafia is going to keep getting away with their schemes to line their pockets with OUR money.
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