Private Equity Asset-Stripping Strategy Meets Charter Schools to Produce Even Better Looting


Naked Capitalism has the article Private Equity Asset-Stripping Strategy Meets Charter Schools to Produce Even Better Looting.

Have you ever wondered how you could make a private (charter) school that would provide a better education and cost less money than a public school and yet turn a profit? As with all the other efforts to privatize public services, haven’t you suspected that there must be some trick to this? Well this article exposes one of the key tricks.

If you read about how banks could make fraudulent mortgages that had a built-in high rate of defaults, and still make some people rich, then this will be no surprise. If you knew how Mitt Romney made his fortune by buying failing businesses and “turning them around”, then you won’t be surprised by this article.

I suppose what might surprise you is that you didn’t see this scam coming.

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