US commercial law has not kept up with the changes in corporate greed and efforts to wipe out small businesses to create great profits for private investors. Private equity has one goal only when it buys a business—squeeze as much profit out of it by firing employees and raising prices and then sell off the assets or the company when it no longer delivers enough profit. The industry needs to be better regulated and its profits taxed differently to curtail their predatory tactics. When private equity got into the hospital business, the eventual result was the closing of many hospitals. Two other areas ripe for regulation, or perhaps becoming illegal, are shell companies and stock buybacks. I can think of few legitimate reasons for a need for a shell company. And stock buybacks are simply a way to manipulate stock prices to the benefit of CEOs and wealthy shareholders. Capitalism is a great economic system, but unregulated capitalism is destroying equity in the US as ever more of the wealth of the country gets transferred to the 1%. It’s time to elect politicians who are not in bed with the corporatists (Republicans) and instead elect people who will enact sensible regulations that move us away from the Robber Baron mentality.

US commercial law has not kept up with the changes in corporate greed and efforts to wipe out small businesses to create great profits for private investors. Private equity has one goal only when it buys a business—squeeze as much profit out of it by firing employees and raising prices and then sell off the assets or the company when it no longer delivers enough profit. The industry needs to be better regulated and its profits taxed differently to curtail their predatory tactics. When private equity got into the hospital business, the eventual result was the closing of many hospitals. Two other areas ripe for regulation, or perhaps becoming illegal, are shell companies and stock buybacks. I can think of few legitimate reasons for a need for a shell company. And stock buybacks are simply a way to manipulate stock prices to the benefit of CEOs and wealthy shareholders. Capitalism is a great economic system, but unregulated capitalism is destroying equity in the US as ever more of the wealth of the country gets transferred to the 1%. It’s time to elect politicians who are not in bed with the corporatists (Republicans) and instead elect people who will enact sensible regulations that move us away from the Robber Baron mentality.

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