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They profited from selling mortgages that customers couldn't repay; they profit from selling student loans that can't realistically be repaid. Private equity le
by wolverine876 3y ago
They profited from selling mortgages that customers couldn't repay; they profit from selling student loans that can't realistically be repaid. Private equity leverages businesses with debt that can't be repaid. Wall Street used saddle governments (not the federal government, but state, local and foreign governments) with debt deals that they couldn't repay, and maybe they still do (they did as of the 2008 financial crisis).
Business and the market are supposed to, ultimately, serve society, benefit real people somehow. Otherwise, what's the point? Sucking the life out of everyone else obviously isn't a workable plan for society.