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These Are the Plunderers: How Private Equity Runsand WrecksAmerica [Kõva köide]

  • Formaat: Hardback, 400 pages, kõrgus x laius x paksus: 229x152x43 mm, kaal: 558 g, 8-pg 4-c insert
  • Ilmumisaeg: 22-Jun-2023
  • Kirjastus: Simon & Schuster
  • ISBN-10: 1982191287
  • ISBN-13: 9781982191283
Teised raamatud teemal:
  • Formaat: Hardback, 400 pages, kõrgus x laius x paksus: 229x152x43 mm, kaal: 558 g, 8-pg 4-c insert
  • Ilmumisaeg: 22-Jun-2023
  • Kirjastus: Simon & Schuster
  • ISBN-10: 1982191287
  • ISBN-13: 9781982191283
Teised raamatud teemal:
A Pulitzer Prize-winning and New York Times bestselling financial journalist and a policy analyst expose the greed and pillaging of a small group of celebrated Wall Street financiers who use excessive debt and dubious practices to undermine our nation’s economy while enriching themselves: private equity. Illustrations.

"A Pulitzer Prize-winning and New York Times bestselling financial journalist and a policy analyst expose the greed and pillaging of a small group of celebrated Wall Street financiers who use excessive debt and dubious practices to undermine our nation'seconomy while enriching themselves: private equity"--

Pulitzer Prize–winning and New York Times bestselling financial journalist Gretchen Morgenson and financial policy analyst Joshua Rosner investigate the insidious world of private equity, revealing how it leeches profits from everyday Americans, tanks the companies it acquires, and puts our entire economic system at risk.

Much has been written about the widening gulf between rich and poor, the pernicious effects our deepening income inequality has on the US’s well-being, and how our style of capitalism has failed to provide a living wage for so many Americans. But nothing has fully detailed the crucial role a small cohort of elite financiers has played in this dispiriting outcome over the past thirty years. Pulitzer Prize–winning journalist and bestselling author Gretchen Morgenson, with coauthor Joshua Rosner, unmask the small group of celebrated Wall Street financiers, and their government enablers, who use excessive debt and dubious practices to undermine our nation’s economy for their own enrichment: private equity.

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.

Arvustused

"Amazing investigative work about a powerful but largely unknown segment of the American financial world." Investigative Reports & Editors DamningMorgensen and Rosner excel at capturing the complex financial maneuverings in crisp, accessible prose, and horror stories about how buyouts shortchanged nursing home residents and life insurance policy holders drive home the callousness of the private equity business model. Fiery and incisive, this is an essential account of how Wall Street pilfers the pockets of ordinary Americans. Publishers Weekly, *starred review*

Readers will be drawn into the duos storytelling, and even those who arent financially savvy will be able to grasp the topic. Its a must-read for all for help in understanding a different side of capitalism. Booklist, *starred review*

As Gretchen Morgenson and Joshua Rosner so lucidly explain, these modern privateers simply act as dealers reshuffling marked cards in the deck of American capitalism. In the high stakes game they're playing, it's a deck that's stacked against the rest of us. Shelf Awareness

The troubled story of private equity, which is anything but equitable. A well-documented, maddening book that cries out for legislative reform and regulation. Kirkus Reviews

A meticulous and devastating takedown of a powerful force in Western capitalism, infused with just the right amount of indignation at how the powerless bear most of the awful burden. Brad Stone, author of Amazon Unbound and The Everything Store

This is the fourth estate working at its best: explaining to readers an ever-growing number of examples where private equity has extracted wealth, not created it, for the benefit of a privileged few. Done right, PE can play a positive role in our economy.  Done wrong, its consequences are ruinous as demonstrated in this must-read book. Sheila Bair, former chair of the FDIC and author of New York Times bestseller Bull by the Horns

These Are the Plunderers is a masterpiece of investigative journalism. Morgenson and Rosner expose nothing less than an organized, merciless, and astoundingly profitable attack on Americas middle class. If you want to understand why Wall Street is booming, good jobs are disappearing, and venerable companies are collapsing, the story is all here. This book names the names and follows the money. Christopher Leonard, New York Times bestselling author of Kochland and The Lords of Easy Money

A critical and urgent look behind the scenes at the characters and mechanics that increasingly dictate our systems of influence, power, and money. Morgenson and Rosner make the complex legibleand the stakes couldnt be higher. Mary Childs, co-host of NPRs Planet Money and author of The Bond King

[ A] definitive, inside story of how our winner-take-all economy came to be. The private equity billionaires youll meet on these fascinating pages are the new robber barons. While the watchdogs were asleep, this investigative journalist and policy analyst show how they plundered America and, at last, hold them accountable. Ida Tarbell would sure be proud of them. Jill Abramson, author of Merchants of Truth and former executive editor of The New York Times

Introduction "Money-Spinning Machines" Let the Looting Begin 1(24)
A NOTE TO READERS
25(287)
Chapter one "Pizza the Hut"
32(15)
Leon Black and the Art of the Fleece
Chapter two "Greed Is Good"
47(19)
The Plunderers Come for the American Middle Class
Chapter three "Project Savior"
66(11)
The Politician Who Gave Leon Black His Big Start
Chapter four "I Really Need to Understand What
77(14)
You Do" One Woman Against the Machine
Chapter five "The Fire Sale Approach"
91(18)
How One of the Greatest Giveaways Came About
Chapter six "No Boy Scout"
109(14)
Plunder's Many Rewards
Chapter seven "The Real Players"
123(15)
Skating from the Crime Scene
Chapter eight "Strong Enough to Stand On"
138(19)
Savaging an American Powerhouse Called Samsonite
Chapter nine "We Have 2,500 Families That Depend
157(18)
On Us Getting It Right" Bleeding New Madrid, Missouri, Dry
Chapter ten "Capitalism on Steroids"
175(16)
No Lusher Target Than Healthcare
Chapter eleven Call to Action Went Unheeded
191(22)
Standing By While Corporations Practice Medicine
Chapter twelve "Like When Hitler Invaded Poland in 1939"
213(19)
A Special Tax Treatment That Mints Billionaires
Chapter thirteen "Money for Nothing"
232(9)
Investigators Home in on Fleecers' Fees and Practices
Chapter fourteen "Oppressing Indigenous People"
241(17)
Bulldozing Through Our Wetlands
Chapter fifteen "Hiding in the Background
258(21)
Rarely Held to Account" Mining for Medicare Gold
Chapter sixteen "Special and Symbiotic"
279(14)
Apollo Goes Back to Its Roots
Chapter seventeen "No Evidence of Wrongdoing"
293(19)
Leon Black Makes His Exit
Conclusion Who Will Stop the Bleeding? 312(13)
Acknowledgments 325(4)
Notes 329(54)
Additional Reading 383
Gretchen Morgenson is the senior financial reporter for the NBC News Investigative Unit. A former stockbroker, she won the Pulitzer Prize in 2002 for her trenchant and incisive reporting on Wall Street. Previously at The New York Times and The Wall Street Journal, she and coauthor Joshua Rosner wrote the New York Times bestseller Reckless Endangerment: How Outsized Ambition, Greed, and Corruption Led to Economic Armageddon about the mortgage crisis. 

Joshua Rosner is managing director at independent research consultancy Graham Fisher and Co., advising regulators, policymakers, and institutional investors on banking and financial markets. He has been interviewed on PBS, CBS, NBC, CNN, Bloomberg, CNBC, and Fox News, and featured in or written for The New York Times, The Wall Street Journal, Reuters, Economist, Barrons, and HuffPost. Joshua is the coauthor of the New York Times bestseller Reckless Endangerment with Gretchen Morgenson.