Wall Street landlords are slumlords

Blackstone is the largest private equity fund in the world; when the 2008 crash hit and banks used the trillions in taxpayer bailouts to fund mass evictions of working people who'd been tricked into taking out predatory mortgages, Blackstone started bulk-buying them, creating rent-backed bonds (called Single-Family Rental Securities or SERS) that are the even-shittier successors to the mortgage-backed securities that detonated the world economy in 2008. Read the rest

GDP vs human thriving: a "healthy" economy means debt-haunted people, desperately searching for housing

GDP and stock market performance are the two metrics that economists (and politicians) use to measure the health of a nation's economy, and by those metrics, Trump is doing a hell of a job. Read the rest

Private equity bosses took $200m out of Toys R Us and crashed the company, lifetime employees got $0 in severance

Private equity's favorite shell game is to take over profitable businesses, sell off their assets, con banks into loaning them hundreds of millions of dollars, cash out in the form of bonuses and dividends, then let the businesses fail and default on their debts. Read the rest

Eviction Lab: a comprehensive database of every eviction proceeding in America for the past 16 years

The Eviction Lab is a collaboration between Princeton University and Matthew Desmond, author of Evicted: Poverty and Profit in the American City Paperback; the lab's team gathered the court records of ever landlord-tenant proceeding in every court in every county in America for the past 16 years. Read the rest

Private equity killed big box retailers, leaving empty big boxes across America, and architects have plans

The traditional explanation for the retail apocalypse is that Walmart and Amazon killed malls and big-box stores, but that account is incomplete -- the real story includes massive asset-stripping by debt-financed private equity vultures who paid themselves lavishly to run beloved businesses into the ground. Read the rest

Corbyn says he'll end asset-stripping hostile takeovers

Labour leader and PM-in-waiting Jeremy Corbyn has promised that when he is Prime Minister, his government will introduce regulations that ban the finance-driven, asset-stripping hostile takeovers of UK companies, in a bid to make finance the "servants of industry not the masters of us all." Read the rest

To keep their bond-ratings, hedge-funds have to publicly demonstrate that they are the most ruthless of landlords

After the subprime crisis, vulture funds swept into the hardest-hit areas and bought thousands of foreclosed-upon homes at firesale prices and floated bonds based on the expected returns from the rents they'd be able to charge in an America with the lowest levels of home-ownership in modern history. Read the rest

All that stuff that was "killed by the net"? The real culprit was hedge funds

The web blew up at the same time as the Reagan/Clinton/Bush financial bombs were detonating, leading to a huge private equity bubble in which super-wealthy Americans used debt financing and other forms of financial engineering to buy out successful companies, then hollowed them out, selling off their real-estate and plant, loading them up with debt, and raiding their reserve funds. Read the rest

Hedge funds killed the newspaper industry, not the web

The web came of age with no-holds-barred finance capitalism, so it's hard to decide which of the last twenty years' worth of changes are the result of the tech industry, or of financialization, or a toxic mix of both. Read the rest