Private equity, vulture capital, enshittification, whatever you want to call it, has been hollowing out vast swathes of the country, from brands like Red Lobster and Boeing, to entire hospital groups.
Leveraged buyouts are somehow a legal version of what the mob does in pretty much every Scorsese movie about them: Acquire something, strip it for parts, then throw a decadent party montage set to the Rolling Stones. They should be illegal, but along with everything else, the good ol’ days of the regulatory state are long behind us.
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