The Buyout of America: How Private Equity Will Cause the Next Great Credit Crisis

The Buyout of America: How Private Equity Will Cause the Next Great Credit Crisis

by Josh Kosman
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Overview

The Buyout of America: How Private Equity Will Cause the Next Great Credit Crisis by Josh Kosman

An authoritative exposé of the mysterious and potentially dangerous world of private equity

Few people realize that the top private equity firms, such as Blackstone Group, Carlyle Group, and Kohlberg Kravis Roberts, have become the nation’s largest employers through the businesses they own. Using leveraged buyouts that load their acquired companies with loans, private equity firms have generated more than $1 trillion in new debt—which will come due just when these businesses are least likely to be able to pay it off.

Journalist Josh Kosman explores private equity’s explosive growth and shows how its barons wring profits at the expense of the long-term health of their companies. He argues that excessive debt and mismanagement will likely trigger another economic meltdown within the next five years, wiping out up to two million jobs.

He also explores the links between the private equity elite and Washington power players, who have helped them escape government scrutiny. The result is a timely book with an important warning for us all.

Product Details

ISBN-13: 9781591842859
Publisher: Penguin Publishing Group
Publication date: 11/12/2009
Pages: 280
Product dimensions: 6.44(w) x 9.28(h) x 1.02(d)
Age Range: 18 Years

About the Author

Josh Kosman has been covering the financial industry for twelve years. He is as an editor at Mergermarket.com and a former senior writer for The Deal and senior reporter for the trade publication Buyouts Newsletter. He appears frequently in the media as a private equity and mergers expert.

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The Buyout of America: How Private Equity Will Cause the Next Great Credit Crisis 4.6 out of 5 based on 0 ratings. 9 reviews.
hacyco More than 1 year ago
Just finished, readers will be amazed at the names in this book and their connection with junk bonds etc. Clinton,Bush(both of them),Baker, Pena, Rumsfeld(who made 6 million in stock sales along), Daschle and others. Both parties seem to be equal opportunity narcissistic snakes(not meaning to give snakes a bad name)
Anonymous More than 1 year ago
These are facts that I was not aware of...now I can see what LBS's are all about and how the private equity companies have no regard for consumers. Once again, corruption and greed win.
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