Private Equity Funds and Those in Need

Say you get a check in the mail and it says just sign me. You ignore it then some emergency crops up and you can’t cover it and then you remember the check. That’s one way companies owned by Private Equity Funds make money. In this case a company like   Mariner Finance  is  owned by an $11.2 billion  Private Equity Fund called Warburg Pincus, and the president of  Warburg Pincus is Timothy Geithner, former Treasury Secretary under Obama, which makes the activities of Mariner Finance stand out all the more . They charge up to 36% interest to needy people who Continue reading “Private Equity Funds and Those in Need”

68.5 Million Refugees

Being an immigrant is very difficult. I know from experience what it’s like to leave everything you know and have behind and go towards an unknown. And in our case we didn’t have to pay smugglers, we didn’t have to walk across borders, we had passports, visa, purchased our own plane fares and weren’t fleeing war. So when I read that the number of refugees and displaced persons from wars and persecutions has reached 68.5 million, I shudder. These are 68.5 million lives which have been Continue reading “68.5 Million Refugees”

Merger, Less Jobs and Smaller Paychecks

We’re so used to hearing about mergers, we don’t give them sufficient attention. Some are well known names, Amazon bought Whole Foods, Cigna bought Express Scripts, and some are names we may not often hear such as Marathon Petroleum buying rival Endeavor. There are also those which are proposed, AT&T merger with Time Warner or T Mobile with Sprint, for example. The number of mergers keeps growing; so far in 2018 $1. 7 trillion worth of deals have occurred and more are expected. We Continue reading “Merger, Less Jobs and Smaller Paychecks”

Bankruptcy and the Poor

In 2005 Congress passed a new bankruptcy law to prevent abuses, it made getting a lawyer necessary. But of course many can’t afford one. Some wait until their tax refunds, so much so there is a spike in bankruptcy filings from March to May. Some file under Chapter 13 which means their debts have to be repaid usually over 5 years.  Chapter 13 requires a lawyer too, and those fees have to be added to the list of debts. Many default and then it all falls through. There are also bankruptcy services which Continue reading “Bankruptcy and the Poor”