“I am a big believer in the private equity model. I think that if you look at the track record of the industry, whether it’s three years, five years, 10 years, it’s produced the best returns—more so than real estate, even [than] venture. And I think given the underfunding of a lot of the pension industry, this is really important. This is what’s helping teachers, firemen, policemen, government workers. I’m very proud of what we do in private equity.” —Leon Black, Apollo Capital
Jesus F Christ🤦♂️
Nobody sees themselves as the bad guy, even if they come for them with pitchforks.
Everything about this excerpt is so wrong.
Finance is a crucial pillar of modern civilized life (fight me), yet these asshats are going to risk destroying it for a few hundo million here and there.
#NakedCapitalism has lots on #PrivateEquity, start at
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