Changes

'''Private equity''' refers to the non-public ownership of [[equity]].  As such the organization is not listed on a [[stock exchange]] and is not regulated like public [[mutual fund]]s.  Like mushrooms growing in the dark, pro-[[globalism]] has grown to more than $11 trillion by early 2023, and heavily influences politicians from both parties in control of [[Congress]].  [[Trump]] sought to end a special tax loophole for private equity, and its puppets [[Mitt Romney]] and [[Pat Toomey]] retaliated by supporting the second [[impeachment and removal|impeachment]] of Trump even though he had left the [[White House]].

'''Private equity''' refers to the non-public ownership of [[equity]].  As such the organization is not listed on a [[stock exchange]] and is not regulated like public [[mutual fund]]s.  Like mushrooms growing in the dark, pro-[[globalism]] has grown to more than $11 trillion by early 2023, and heavily influences politicians from both parties in control of [[Congress]].  [[Trump]] sought to end a special tax loophole for private equity, and its puppets [[Mitt Romney]] and [[Pat Toomey]] retaliated by supporting the second [[impeachment and removal|impeachment]] of Trump even though he had left the [[White House]].

In ''Plunder: Private Equity's Plan to Pillage America'' (2023), Brendan Ballou explains that private equity has caused massive job losses, increased prices, and reduced quality as it purchases "retailers, medical practices, prison services, nursing-home chains, and mobile-home parks, among other businesses, using little of their own money to do it and avoiding debt and liability for their actions. Forced to take on huge debts and pay extractive fees, companies purchased by private equity firms are often left bankrupt, or shells of their former selves, with consequences to communities that long depended on them.<ref>[https://www.hachettebookgroup.com/titles/brendan-ballou/plunder/9781541702103/?lens=publicaffairs Summary of book]</ref>

In ''Plunder: Private Equity's Plan to Pillage America'' (2023), Brendan Ballou explains that private equity has caused massive job losses, increased prices, and reduced quality as it purchases "retailers, medical practices, prison services, nursing-home chains, and mobile-home parks, among other businesses, using little of their own money to do it and avoiding debt and liability for their actions. Forced to take on huge debts and pay extractive fees, companies purchased by private equity firms are often left bankrupt, or shells of their former selves, with consequences to communities that long depended on them."<ref>[https://www.hachettebookgroup.com/titles/brendan-ballou/plunder/9781541702103/?lens=publicaffairs Summary of book]</ref>

Private Equity Funds are usually open to institution funds (i.e. public and private pension funds) as well as high net-worth individuals who can afford a large buy in cost, and can be quite risky placing large sums of money to buy out companies (such as the [[Chrysler]] Group) and then either turn them around.  Accurate return data must be provided to investors and prospective investors per existing law (i.e. pre-Dodd Frank), but it can be difficult for the general public to determine the return of a private equity fund because they do not have to provide public reports. The Dodd-Frank Act alleges that reporting that was already happening to investors will become more standardized, but in fact, all Dodd-Frank will do is raise compliance costs for funds. Some investors have made as much as 30% per year.

Private Equity Funds are usually open to institution funds (i.e. public and private pension funds) as well as high net-worth individuals who can afford a large buy in cost, and can be quite risky placing large sums of money to buy out companies (such as the [[Chrysler]] Group) and then either turn them around.  Accurate return data must be provided to investors and prospective investors per existing law (i.e. pre-Dodd Frank), but it can be difficult for the general public to determine the return of a private equity fund because they do not have to provide public reports. The Dodd-Frank Act alleges that reporting that was already happening to investors will become more standardized, but in fact, all Dodd-Frank will do is raise compliance costs for funds. Some investors have made as much as 30% per year.