Working Life

Private equity vultures love a great economic crisis. Circling above their wounded corporate prey, they wait until a company is too weak to survive, and, then, swoop in to pick up the pieces at a bargain price—which usually involves cutting thousands of jobs, too. And, now, a new rule will allow private equity firms to […]

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Deval Patrick has become very, very rich since leaving the post of Massachusetts governor. That’s what happens when you become a managing director of Bain Capital, one of the behemoths in the private equity industry. Patrick became rich working for a company—being a managing director of a company—that has screwed thousands of workers, especially 30,000 […]

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The Gordon Gekko boast in the fictional movie “Wall Street” that “Greed is Good” is really an organizing principle for the financial vultures who rob the country day after day. Today, you will hear two tales of greed and robbery by hedge fund and private equity vultures. First, it’s Paul Singer, the CEO of a […]

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I would never have said it before today but it turns out health insurance companies aren’t the most evil players in the healthcare industry. Don’t freak out—health insurance companies are bad, and they are bankrupting millions of people, and the country. But it turns out even worse than the health insurers are some big mega […]

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I like the ring of The Stop Wall Street Looting Act, don’t you? True, it’s part of the business model of the joint, especially the private equity pirates. The Act is, in fact, aimed squarely at the private equity industry, who have stripped and destroyed hundreds of companies. I’ll talk about the Act with the […]

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I know no more than the next person about what the mid-term election results will be. But, what I can do is bring you, exclusively, the thinking in this episode of Celinda Lake, one of the nation’s leading Democratic and issues pollsters, who tells us what is driving voters right now just days before the […]

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Maybe you missed it but you got a great example of the absolute failure of the transcribers of press releases (formerly known as “journalists”) to do their job– and it was a failure by the vaunted crowd at 60 Minutes.

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   I love it when billionaires feel misunderstood. It sounds something like this: “I’ve fleeced you or just piled up gobs of money at your expense but, gee, that really wasn’t personal, I’m really a good guy with all the right motives, if you could just see it my way because, well, my way is […]

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   When I wrote the "The Audacity of Greed" in 2008, I had a chapter called "Vodka and Penises" which detailed a rather unique birthday party thrown in Sardinia, Italy, in 2000 by Tyko CEO Dennis Kozlowski in honor of his wife–it featured vodka spraying from the penis of a replica of Michelangelo’s David. Kozlowski, […]

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   The financial collapse a year ago was also, in my mind, a further sign of the bankruptcy of the traditional media. Even though the rising real estate and stock market bubble were obvious for a number of years, The New York Times rarely took on the greed in Wall Street, treating, particularly in the […]

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