Episode 71: The Hedge Fund that Ate Sears
Church and Main: At the Intersection of Religion and Public Life
English - January 24, 2022 13:00 - 1 hour - 136 MB - ★★★★★ - 3 ratingsNews Commentary News Politics Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
We take a break from religion to focus on hedge funds. Hedge funds and private equity firms have an outsized role in the American economy. Some of your favorite stores might have been owned by a hedge fund or private equity firm. Some of these stores still exist, but some don’t. Stores like Shopko, ToysRUs, Payless Show and Sears were all at some point owned by a hedge fund or private equity firm and most of these firms have gone out of business.
Coincidence? Jan Weir doesn't think so. Jan Weir is a Canadian litigation attorney in Toronto and he has followed how financial firms like hedge funds and private equity firms have inserted themselves in the economy and how they affect people from the choices we have in the marketplace or lack thereof to your pension fund. We had a great conversation about how these firms are able to do this, how the media and politics ignore what’s going on and what if anything can be done about it.
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Show Notes:
How Hedge Fund Billionaires Loot Worker Pensions by Jan Weir
How Greedy Investors Looted Sears Into Bankruptcy by Jan Weir
How Hedge Funds Helped The 1% Profit From The Great Recession by Jan Weir
A hedge fund has targeted Kohl's Corp. with an unsolicited $9 billion purchase offer- Milwaukee Journal-Sentinel
The Rewards of Poor Performance: CEO, Hedge Fund, and Private Equity Compensation by Dean Baker
The Value of Nothing: Capital versus Growth by Julius Krein
Who Killed Sears and Kmart? Podcast Episode
The Men Who Are Killing America’s Newspapers by McKay Coppins
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