Private equity investors are different from venture capitalists, who provide a cash infusion to small startups and hope they blossom into the next Facebook. Nor are they stock traders making split-second decisions to buy or sell shares in public companies. Rather, private equity funds aim to take control of a business for a relatively short time, restructure it and resell or liquidate the company at a profit.

It is mariner’s opinion that private equity firms are the most evil and destructive element of uncontrolled capitalism. The impact on local newspapers across the country has been in the news. Small newspapers are disappearing because of private equity take-overs.

It is a form of thievery. Mariner knows about four billionaires who bought a bank and immediately foreclosed on every mortgage – creating great financial hardship for homeowners. The billionaires either received immense amounts of cash when property owners could pay off their mortgages or took title to properties well below their market price. The event was a tragedy for mortgage holders and demonstrates the disregard of private equity for any form of moral behavior.

Propublica reports that private equity manages over six trillion dollars in the US economy. The Congress, of course, does not attempt to change the tax structure advantages.

An unexposed impact of private equity is the disregard for employees who are summarily laid off, fired, and whose retirement benefits are redirected to private equity.

Does the reader have a hobby?

Ancient Mariner