Market Mad House

In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. Friedrich Nietzsche

America’s Slum Lord

Market Insanity

Wall Street is now America’s Slum Lord

Private equity firms have become America’s biggest slum lords, two fascinating articles by Bloomberg’s Prashant Gopal revealed.

Private equity firms; such as Blackstone, Pimco, BlackRock and Colony Capital ,spent $25 billion buying up more than 150,000 foreclosed or unsold homes between the Great Real Estate crash of 2008 and 2012, Gopal’s research indicates. The houses are managed and rented out to working class families.

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