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How Private Equity Will Cause the Next Great Credit Crisis
Portfolio Hardcover
November 2009
On Sale: November 12, 2009
288 pages
ISBN: 1591842859
EAN: 9781591842859
Hardcover
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Non-Fiction
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.
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