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One Step Ahead

Private Equity and Hedge Funds After the Global Financial Crisis
Oct 16, 2013StarGladiator rated this title 0.5 out of 5 stars
This is a goofy book, misrepresenting a number of things and facts. Firstly, private equity firms like the Blackstone Group (co-founder Peterson was a David Rockefeller protege, while the other co-founder, Schwartzman, was a Skull & Bones frat boy, selected by an upperclassman named George W. Bush) bought some congressmen, so when they went public on the NYSE, they could still claim capital gains taxation rates, instead of the legally mandated corporate taxation rates (which are higher), as was the case with several hedge funds like Citadel and Fortress. Fundamentally, they way they are allowed to operate and the manner in which they are structured is simple financial fraud and the perpetration of financial fraud: an unlimited number of investors are allowed per opaque hedge fund! A private equity firm can destroy a company with a leveraged buyout and asset stripping (along with destroying employment) and then use naked swaps against it to further profit in its demise! Try verifying everything this author claims! With the FOIA requests from a (sadly now deceased) Bloomberg News reporter exposing the $17 trillion pumped out by the Federal Reserve during 2007 to 2009 to banks, private equity firms and hedge funds throughout the planet, such outfits have hardly "prospered" on their own, they have been routinely subsidized by TARP bailout funds and the Fed, and so on. GE, structured as a private equity firm and hedge fund, would now be out of existence were it not for their partaking of the TARP bailout funds. Edward Snowden, the NSA whistleblower, was employed at Booz Allen - - what private equity firm owns them? Carlyle Group, of course. Book rated farce. [First read Josh Kosman's "The Buyout of America" - - then read this farce of a book and compare and contrast!]