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It's a straw man because literally nobody here was arguing that there is value created in the nullification of employee pensions.
by AussieWog93 5y ago
It's a straw man because literally nobody here was arguing that there is value created in the nullification of employee pensions.
- klyrs 5y agoNo, it's absolutely not a straw man. The destroyed pensions are theft, which must appear on the balance sheet when you claim that vulture capitalism creates value. The loss of pension has direct impact on those owed: they are being deprived of money that they earned by providing value.
- AussieWog93 5y ago>No, it's absolutely not a straw man. I repeat: nobody was arguing that people losing their pensions was a good thing. Nobody. Absolutely nobody. Literally no-one. I don't even know what you're referencing, or how it's even possible for Private Equity to pilfer workers' pension funds. If anything, it's the funds themselves that own/invest in Private Equity. Yet still, you and the other poster have brought it up as if stealing pension funds (how?) is somehow "what Private Equity does". You might as well be arguing that Private Equity destroys value because it's immoral to fuck a dog. I'm sure Carl Icahn-esque character has tried it before.
- klyrs 5y agoNo, you claimed that wealth is proof of created value. I'm refuting that with counterexamples. As for how pension heists are accomplished, read up: https://sandiegofreepress.org/2012/07/how-mitt-romney-drove-companies-bankrupt-raided-pension-funds-and-paid-himself-handsomely/ https://sandiegofreepress.org/2012/07/how-mitt-romney-drove-...