The nation watched as the horrific murder of an insurance company executive turned into an opportunity for people to share their mistreatment and abuse from health insurers.
Matt Stoller noted a contributing factor, elite disdain for the rule of law.
Another recent story had 20,000 VW workers booing their CEO who wants to cut pay 20%. The CEO insulted his employees by implying they aren't living in the real world.
So how did greedy executives consume our country? It happened in stages, Private equity underwriters crapified the workplace, a few companies at a time before exponentially swallowing most of corporate America. PEU founders used their power and connections to influence taxation and government operations, earning the title "policy making billionaire." After seeing the impact, TechGods and CryptoBros imitated the PEU playbook at lightning speed:
The PEU takeover of government operations was a bipartisan effort. Politicians Red and Blue love PEU and increasingly, more are one. It happened slowly, surreptitiously and secretly over several decades. A major business reporter shared in 2011:
I have seen so many people -- particularly those in their 50s - 70s -- taken apart by what has happened in their industry as greed has hollowed out the economy. These are people took pride in their jobs and held themselves to this invisible standard that we all just took for granted, but is being wiped out.The Carlyle Group scares me more than anything I've ever seen on Wall Street. It seems to exist to corrupt politicians and it's hard to know who they even represent.
PEU corporate takeovers came with aggressive workforce and pay reductions. Employees hated it. TechGods turned professions into gigs, then made the gigs crappier and crappier.
I expect they will continue to serve themselves, just as greedy executives of all stripes have done. The rest of us get to scramble for fungible crumbs that fall off their table.
Update 12-10-24: The Red Team must fall in line with the new King and his liege appendage:
