MarketWatch reported:
“Private equity ownership leads to an increase of 147% in the percentage of… financial advisers committing misconduct” at the firms they take over.
The latest study adds to the growing evidence that private-equity managers are driving unethical business practices where they find an opportunity. Studies published last year found the rising private equity ownership of nursing homes is leading to lower standards, higher costs and more deaths. Other research has found that private equity takeovers can be bad for things like employee morale and quality of life, and worse customer outcomes.
They have also been rewarded by Congress — both parties — with lavish tax breaks on that pay, breaks unavailable to the middle class, thanks to the so-called “carried interest loophole.”
The greed and leverage boys are never responsible for the destruction they cause. Politicians Red and Blue love PEU.
"ill fares the land," specifically people under PEU rule.
The line comes from an 18th century poem, The Deserted Village. The poem condemns rural depopulation and the pursuit of excessive wealth.
