Yup. I saw that on the wire this morning too.
Given that PE’s MO is to rob everyone else blind, for the benefit of the PE group, seems what would happen would be money drained from people’s savings accounts would be stolen by PE management too.
This is the sort of blather than makes me make sure my wallet is still in my pocket:
“We’ll make the case for a pro-growth regulatory regime that supports small businesses and provides more opportunity to everyday investors,” said Drew Maloney, president and CEO of private equity lobbying group American Investment Council.
Yeah, right. Invoking “growth”, “small business”, and “everyday investors”, all totems we are supposed to genuflect to. Wasn’t there a push, a few years ago, for SPACs, which sounded like PE groups that sold stock to the public, so they could take over, and loot, bigger companies? So, now they are trying to use the government to help them take money from people’s retirement savings? They must not be able to find enough people to buy SPAC stock willingly?
A day or two back, I envisioned a situation where TFG can’t finance all his ambitions via bond markets, so hits on the idea of taking all the money out of Prole 401ks, and replacing the money with a special series of bonds, that do not mature for 30 years, so honoring them would be someone else’s problem. Seems I wasn’t the only one looking at all that Prole money.
Steve
Increasing corruption and greed seem to be the order of the new day.
Increasing corruption and greed seem to be the order of the new day.
Concentrating all the money in the hands of the few has always been the stated objective of “supply side economics”.
Steve
The PE is completely incompetent.