00:00Wall Street found a way to buy companies using someone else's credit and their debt.
00:04When a private equity firm buys your employer, they rarely use their own liquid cash.
00:10They borrow billions from banks and immediately move that debt onto the company's private books.
00:16Your employer is now legally required to pay for its own extremely expensive hostile takeover.
00:22To service this debt, management must aggressively slash your monthly wages and your benefits.
00:29Profits that once funded innovation now vanish into high-interest payments for the wealthy elite.
00:34The firm then forces the company to borrow more to pay themselves large special dividends.
00:40They often sell the land under the stores and charge the company very expensive rent.
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