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What happens when private equity infiltrates the world of business? Join us as we uncover the truth with Gretchen Morgenson, a veteran financial journalist who transitioned from stockbroker to investigative reporter. Gretchen shares her unique journey and provides a deep dive into the evolution of financial journalism. We discuss how the democratization of the stock market has changed the landscape and the critical challenges posed by a decline in investigative reporting.In this thought-provoking episode, we tackle the predatory practices of private equity, using real-world examples such as Red Lobster and Noranda to illustrate the devastating impact on businesses and communities. Discover how asset stripping and leveraging companies with debt can lead to financial ruin, burdening businesses with insurmountable debts and forcing them into bankruptcy. We also delve into the complexities of the high-yield junk debt market and the intriguing shift of riskier debt to private credit, questioning how this movement might be affecting public markets.Our conversation extends into the opaque world of private credit markets, where Gretchen shines a light on the urgent need for transparency and scrutiny. We explore her book, "These Are the Plunderers," co-authored with Josh Rosner, which uncovers the long-term consequences of private equity in sectors like healthcare. Shocking academic findings reveal the increased costs and mortality rates following private equity takeovers in healthcare settings. As we wrap up, we reflect on the current state of investigative journalism and discuss how to foster quality, narrative-driven reporting in an era where AI and entertainment-focused media dominate. Tune in for an enlightening discussion on the complexities and consequences of private equity.The content in this program is for informational purposes only. You should not construe any information or other material as investment, financial, tax, or other advice. The views expressed by the participants are solely their own. A participant may have taken or recommended any investment position discussed, but may close such position or alter its recommendation at any time without notice. Nothing contained in this program constitutes a solicitation, recommendation, endorsement, or offer to buy or sell any securities or other financial instruments in any jurisdiction. Please consult your own investment or financial advisor for advice related to all investment decisions. Sign up to The Lead-Lag Report on Substack and get 30% off the annual subscription today by visiting http://theleadlag.report/leadlaglive. Foodies unite…with HowUdish!It's social media with a secret sauce: FOOD! The world's first network for food enthusiasts. HowUdish connects foodies across the world!Share kitchen tips and recipe hacks. Discover hidden gem food joints and street food. Find foodies like you, connect, chat and organize meet-ups!HowUdish makes it simple to connect through food anywhere in the world.So, how do YOU dish? Download HowUdish on the Apple App Store today:
Today we are doing Jen's favorite thing: following the big dirty money. This time the focus is on the world of private equity. Those two words together sound ever so restrained and elite, even contained. In reality though the world of private equity is rough and destructive and affects all of us from patients seeking health care to workers losing their jobs. There are more than $10 trillion in private equity assets under management. And many public pension funds as well as ordinary members of the public are invested. Not private at all. Timing is everything. In early December, two U.S. senators launched a bipartisan investigation on the takeover of our nation's healthcare by giant private equity firms. Today on Booked Up we have the top experts on this topic,Joining Jen to discuss this topic are authors Gretchen Morgenson and Joshua Rosner. Their new bestseller These Are the Plunderers: How Private Equity Runs—and Wrecks—America is a must-read for anyone and everyone who wants to understand why and how the rich get richer and the rest of us are struggling to make ends meet. You may recognize Gretchen and Josh from their first book, about the 2008 financial and related mortgage crisis. It was a great resource for me when I wrote about that dangerous period. Reckless Endangerment: How Outsized Ambition, Greed, and Corruption Led to Economic Armageddon. Gretchen is the senior financial reporter for the NBC News Investigative Unit. A former stockbroker, she won the Pulitzer Prize in 2002 for her “trenchant and incisive” reporting on Wall Street. Josh is managing director at independent research consultancy Graham Fisher and Co., advising regulators, policymakers, and institutional investors on banking and financial markets. Contact Booked Up: You can email Jen & the Booked Up team at: BOOKEDUP@POLITICON.COM or by writing to: BOOKED UP P.O. BOX 147 NORTHAMPTON, MA 01061 Get More from Gretchen Morgenson Twitter | Website | Author of THESE ARE THE PLUNDERERS Get More from Josh Rosner Twitter | Website | Author of THESE ARE THE PLUNDERERS More from Jen Taub: Twitter | Money & Gossip Substack | Author of BIG DIRTY MONEY
On this week's episode of Lever Time: David Sirota is joined by Josh Olson and Dave Anthony, hosts of The Audit podcast, to discuss the dangerous influence of the conservative media network Prager University (also known as PragerU). PragerU has become one of the most successful peddlers of right-wing propaganda, as their professionally produced short-form videos often go viral on YouTube and Facebook. Though they originally made videos for adults, PragerU's “educational content” has pivoted towards children and their parents in recent years. Now, shockingly, PragerU videos are finding their way into the American education system, as teachers across the country use PragerU content in their classrooms, with or without the consent of students and their parents. This season of The Audit focuses specifically on PragerU, digging into how this propaganda organization got its start, where it gets its money from, and how it's attempting to indoctrinate America's children.A transcript of this episode is available here.Links: The Right Curriculum? How PragerU Infiltrates Schools. (The American Prospect, 2021) Right-wing propaganda organization PragerU begins targeting children (The Hawk Talk, 2022) Inside the Right-Wing YouTube Empire That's Quietly Turning Millennials Into Conservatives (Mother Jones, 2018) BONUS: Next Monday's bonus episode of Lever Time Premium, exclusively for The Lever's supporting subscribers, will include David's dual interviews with with Brendan Ballou, author of the new book Plunder: Private Equity's Plan to Pillage America, and Josh Rosner, co-author of These Are the Plunderers: How Private Equity Runs – And Wrecks – America. Brendan and Josh break down everything you've ever wanted to know about the private equity industry, which is arguably one of the most destructive industries within the American economy. If you'd like access to Lever Time Premium, which includes extended interviews and bonus content, head over to LeverNews.com to become a supporting subscriber.If you'd like to leave a tip for The Lever, click the following link. It helps us do this kind of independent journalism. levernews.com/tipjar Thanks to our sponsor Sheets & Giggles. To get 20% off your order, head over to SheetsGiggles.com/lever. Make sure to use the discount code LEVER at checkout.
Josh Rosner, Managing Director at Graham Fisher & Co, and Gretchen Morgenson, Senior Financial Reporter for NBC News, discuss their book These-Are-the-Plunderers: How Private Equity Runs—and Wrecks America.Hosts: Carol Massar and Madison Mills. Producer: Paul Brennan. See omnystudio.com/listener for privacy information.
Josh Rosner, Managing Director at Graham Fisher & Co, and Gretchen Morgenson, Senior Financial Reporter for NBC News, discuss their book These-Are-the-Plunderers: How Private Equity Runs—and Wrecks America.Hosts: Carol Massar and Madison Mills. Producer: Paul Brennan. See omnystudio.com/listener for privacy information.
Josh Rosner, Managing Director at Graham Fisher & Co., and Bloomberg News Wall Street Reporter Sonali Basak discuss bank earnings and their impact on investing and the economy. Mary Lou Gardner, Associate Partner for CPG, Retail and Logistics at Infosys Consulting, shares her thoughts March retail sales data and the outlook for consumers. Rob Frasca, Managing Partner at Cosimo Ventures, talks about moving from speculation to realization in the crypto market. And We Drive to the Close with Cheryl Pate, Senior Portfolio Manager at Angel Oak Capital. Hosts: Carol Massar and Madison Mills. Producer: Paul Brennan.See omnystudio.com/listener for privacy information.
Josh Rosner, Managing Director at Graham Fisher & Co., and Bloomberg News Wall Street Reporter Sonali Basak discuss bank earnings and their impact on investing and the economy. Mary Lou Gardner, Associate Partner for CPG, Retail and Logistics at Infosys Consulting, shares her thoughts March retail sales data and the outlook for consumers. Rob Frasca, Managing Partner at Cosimo Ventures, talks about moving from speculation to realization in the crypto market. And We Drive to the Close with Cheryl Pate, Senior Portfolio Manager at Angel Oak Capital. Hosts: Carol Massar and Madison Mills. Producer: Paul Brennan.See omnystudio.com/listener for privacy information.
Bloomberg Intelligence Senior Analyst for US Regional Banks Herman Chan and Josh Rosner, Managing Director at Graham Fisher & Co., discuss the latest with the uncertainty in the banking sector and First Citizens buying Silicon Valley Bank. Bloomberg New Economy Editorial Director Erik Schatzker explains how the lack of response to China's reopening from a trio of billionaires says a lot about whether that message is really hitting home. Bloomberg Businessweek Editor Joel Weber and Businessweek Freelance Contributor Chris Pomorski share the details of Chris's Businessweek story How a Texas Preacher With an Ivy League Ph.D. Stole $24 Million. And we Drive to the Close with George Young, Portfolio Manager at Villere Funds. Hosts: Carol Massar and Jess Menton. Producer: Paul Brennan. See omnystudio.com/listener for privacy information.
Bloomberg Intelligence Senior Analyst for US Regional Banks Herman Chan and Josh Rosner, Managing Director at Graham Fisher & Co., discuss the latest with the uncertainty in the banking sector and First Citizens buying Silicon Valley Bank. Bloomberg New Economy Editorial Director Erik Schatzker explains how the lack of response to China's reopening from a trio of billionaires says a lot about whether that message is really hitting home. Bloomberg Businessweek Editor Joel Weber and Businessweek Freelance Contributor Chris Pomorski share the details of Chris's Businessweek story How a Texas Preacher With an Ivy League Ph.D. Stole $24 Million. And we Drive to the Close with George Young, Portfolio Manager at Villere Funds. Hosts: Carol Massar and Jess Menton. Producer: Paul Brennan. See omnystudio.com/listener for privacy information.
Today on The Larry Kudlow Show, Larry talks with Kori Schake, Research Fellow at Hoover Institution. Also on the show is Arthur Brooks, author of NEW BOOK: "The Conservative Heart: How to Build a Fairer, Happier, and More Prosperous America." Kevin O'Leary, author of "Cold Hard Truth on Men, Women and Money 50 Common Money Mistakes and How to Fix Them" and Jack Bouroudjian, author of "Secrets of the Trading Pros" join Larry. More great guests include Josh Rosner, author of "Reckless Endangerment: How Outsized Ambition, Greed, and Corruption Led to Economic Armageddon" (co-authored with Gretchen Morgensen) As always, the money/politics panel with James Pethokoukis and John McIntyre. All this and much more on The Larry Kudlow Show!
Today on The Larry Kudlow Show, Larry talks with Kori Schake, Research Fellow at Hoover Institution. Also on the show is Arthur Brooks, author of NEW BOOK: "The Conservative Heart: How to Build a Fairer, Happier, and More Prosperous America." Kevin O'Leary, author of "Cold Hard Truth on Men, Women and Money 50 Common Money Mistakes and How to Fix Them" and Jack Bouroudjian, author of "Secrets of the Trading Pros" join Larry. More great guests include Josh Rosner, author of "Reckless Endangerment: How Outsized Ambition, Greed, and Corruption Led to Economic Armageddon" (co-authored with Gretchen Morgensen) As always, the money/politics panel with James Pethokoukis and John McIntyre. All this and much more on The Larry Kudlow Show!
Max Keiser and Stacy Herbert discuss Jamie Dimon punching above his weight as a tapeworm and bragging in court documents that he, essentially, had two former Treasury Secretaries on his payroll. They also discuss investors missing out on the ‘rally’ for fear of ‘Too Big to Jail’ tapeworm-banksters being bailed out at their expense. In the second half of the show, Max talks to author Josh Rosner about his explosive new piece, “JP Morgan Chase: Out of Control.” They discuss the London Whale as a systemic and sticking the taxpayer with JP Morgan’s bad Washington Mutual debts. Keiser Report 3-19-13Enjoy this podcast? Bandwidth doesn't pay for itself. Help keep this podcast going with a bitcoin donation to: 19a51xGrb8rMMdbJEyvsJW7L7trzdZswur or simply scan the QR code! This content was provided by www.rt.comhttp://rt.com/shows/keiser-report/Subscribe on youtube at https://www.youtube.com/user/MaxKeiserTV
It's another episode of Greedy Bastards Antidote. Today, we're talking about credit default swaps -- Greedy Bastards' favorite financial innovation of the past ten years. Think of a swap as an opportunity for financial companies to sell insurance on credit. In this podcast, you'll learn exactly what credit default swaps are, and why they're dangerous to our economy. Our guest is Gretchen Morgenson - Gretchen is a business reporter/columnist at the New York Times where she also serves as Assistant Business and Financial Editor. She is co-author with Josh Rosner of the bestselling book Reckless Endangerment: How Outsized Ambition, Greed and Corruption Led to Economic Armageddon.
Yves Smith and Josh Rosner are the single best analysts of the financial crisis and the now-criminal nature of our financial system. At the indispensable financial blog NakedCapitalism, Yves has detailed the collapse of the housing market and the market rigging by big banks and hedge funds to blow up the bubble. Josh predicted the collapse before it happened, and has been on the trail of accounting fraud since the late 1990s.
“Make no mistake, the perils and problems that plagued our nation years ago in the financial crisis—yes, it’s been years—still plague us to this day. Much like an untreated cancer, it will affect us up and to the point where we actually acknowledge it and deal with it,” says Dylan. That’s the message that Gretchen Morgenson and Josh Rosner, co-authors of Reckless Endangerment are trying to deliver: that this problem can be dealt with in the way that we have dealt with other issues in our own history — personally and collectively. Their new book provides not only an authoritative account of the financial crisis, they take a hard look at who is to blame for letting the crisis happen. Here’s Dylan’s recent interview with them.
We are on a collision course with a global restructuring — do the countries of this world and those who lead them have the guts to actually do it? To find answers, we called Josh Rosner. Josh is Managing Director at independent research consultancy firm Graham Fisher & Company, where he advises regulators and investors on housing and mortgage financial issues. Previously he was the Managing Director of financial services research for Medley Global Advisors and was an Executive Vice President at CIBC World Markets.