The chapter explores how private equity companies strategically use bankruptcy to benefit themselves, manipulating processes to shift responsibilities and debts in their favor. It discusses the misunderstood practices of private equity by judges, lawmakers, and regulators, emphasizing the need for public awareness of the impacts on areas like nursing homes, pensions, and consumer services. Furthermore, it addresses the competitive challenges in the tech industry, potential antitrust issues, and the necessity for regulatory reforms to prevent excessive market consolidation.
Private equity is a simple concept — a PE firm uses some combination of money and debt to buy a company, then makes a profit — but the reality of what happens to the companies that get acquired is anything but. It's everywhere, and it's not going away. In this summer remix, we're talking with Brendan Ballou, author of Plunder: Private Equity’s Plan to Pillage America, about how we got here and what happens next.
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Decoder is a production of The Verge, and part of the Vox Media Podcast Network.
Our producers are Kate Cox and Nick Statt. Our editor is Callie Wright.
The Decoder music is by Breakmaster Cylinder.
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