These Are the Plunderers: How Private Equity Runs—and Wrecks—America by Gretchen Morgenson

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These Are the Plunderers: How Private Equity Runs—and Wrecks—America by Gretchen Morgenson PDF

Author: Gretchen Morgenson

These are the Plunderers lucidly and maddeningly traces the thirty-year history of corporate takeovers in America and private equity’s increasing dominance. Morgenson and Rosner investigate some of the biggest names in private equity, exposing how they buy companies, load them with debt, and then bleed them of assets and profits. All while prosecutors and regulators stand idle.

Morgenson and Rosner show how companies absorbed by private equity have worse outcomes for everyone but the financiers: employees are more likely to lose their jobs or their benefits; companies are more likely to go bankrupt; patients are more likely to have higher healthcare costs; residents of nursing homes are more likely to die; towns struggle when private equity buys the main businesses, crippling the local economy; andschool teachers, firefighters, medical technicians, and other public workers are more likely to have lower returns on their pensions because of the fees private equity extracts from their investments. In other words: we are all worse off because of private equity.

These are the Plunderers exposes the greed and pillaging in private equity, revealing the many ways these billionaires have bled our economy, and, in turn, us.