it should not be possible for private equity scumbags to buy a business, load it to the gills with debt, pay themselves a king's ransom, and then leave the prior corporate debt holders to get pennies on the dollar in Chapter 11. that's just a loophole in bankruptcy lawit should not be possible for private equity scumbags to buy a business, load it to the gills with debt, pay themselves a king's ransom, and then leave the prior corporate debt holders to get pennies on the dollar in Chapter 11. that's just a loophole in bankruptcy law

And after that, brag that they were "smart" and expect acclaim and admiration, when they are plain garbagios?? I'm convinced it's the business and law schools that need reform the most urgently

Really hoping Dems get a trifecta and just take an axe to private equity, the supplements industry, and couple other of these right wing scams posing as businesses.

That that can do this more than once reflects poorly on the lenders.

I am old enough to remember the times before hyper-financialization. No times are perfect (massive racism and misogamy) but the middle class was very large and Mitt Romney and JD Vance were not possible.

Just gotta swear you mean to run the business for 2 years. Then, burn it all down and collect the insurance. Good Fellas, but tax deductible.