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| | In fact, private equity increasingly: | | In fact, private equity increasingly: |
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| − | *disrupts local businesses, such as renting by students in [[Berkeley]], getting a medical operation at a local surgery center, etc. | + | *disrupts local businesses, such as renting by students in [[Berkeley]], getting a medical operation at a local surgery center, etc.; |
| − | *interferes with politics, such as trying to stop [[Trump]] from being nominated and corrupting the [[U.S. Senate]] | + | *interferes with politics, such as trying to stop [[Trump]] from being nominated and corrupting the [[U.S. Senate]]; |
| − | *creates a new class of billionaires who profited by causing harm rather than mutual benefit, and by exploiting a special tax loophole for private equity (called the "carried interest loophole") | + | *creates a new class of billionaires who profited by causing harm rather than mutual benefit, and by exploiting a special tax loophole for private equity (called the "carried interest loophole"); |
| − | *probably causes unexpected collapses in historically secure institutions, while potentially disrupting entire financial markets | + | *probably causes unexpected collapses in historically secure institutions, while potentially disrupting entire financial markets; |
| | + | *buys up homes, fails to do necessary repairs, and then evicts residents to such a severe degree that tenants are unionizing to fight back;<ref>https://www.vice.com/en/article/jg5pek/people-are-organizing-to-fight-the-private-equity-firms-who-own-their-homes#:~:text=understaffing%2C%20all%20in-,an,-effort%20to%20make</ref> and |
| | *lacks transparency and accountability, while likely expecting to be bailed out by the [[Federal Reserve Bank]] on big bets that go bad | | *lacks transparency and accountability, while likely expecting to be bailed out by the [[Federal Reserve Bank]] on big bets that go bad |
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