A lot of debate has been going on recently about private equity firms and whether they are job creators or job destroyers. This article provides a concise and persuasive argument about how PE firms use debt and exploit the tax system to reap large profits at considerable expense to taxpayers and many employees. Refreshingly, it also offers some simple policy solutions that could limit the opportunities for exploitative profit by PE.
"Private Inequity" by James Surowiecki
Published in the New Yorker, January 30, 2012
http://www.newyorker.com/talk/financial/2012/01/30/120130ta_talk_surowiecki
Eric
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