3 ms·
Putting "making money" as the sole & overriding decision making factor is a recipe for bad things. The article spends a relatively brief amount of time bashing
by rektide 4y ago
Putting "making money" as the sole & overriding decision making factor is a recipe for bad things.
The article spends a relatively brief amount of time bashing the massive wealth extraction PE does. It barely talks about all the businesses it wrecks as it uses leverage to saddle companies with debt. Does ruining companies justify an additional 1.2% return for a pension? It doesnt dwell overly long on how ridiculous the fees & perposterous expenses seem to be. That money seems needed by the pensions.
In all, this article just sets the stage for thr very reasonable thing the FTC seems to be asking for: a little bit of sunlight into where the money goes, what the fees & expenses are. This modest ask isnt trying to turn back what seems all to often to me to be (& gently cited within as) a buch of looting corporate hooligans; an illegitemate Billionaire Factory of no good or real public utility except wealth extraction. Right now there's few indicators it's the pensions that get helped, and both the fees/expenses & cost to society/general economic health are unknownable.