The Role of Finance in Detroit’s Bankruptcy and State/Local Budget Woes
Rob Johnson, political insider and executive director of INET, discusses the role of Big Finance in state and local budget woes.
Read more...Category Archives: Private equity
North Carolina Treasurer, Accused of Malfeasance , Defends Secrecy of Private Equity Investments
The Treasurer of North Carolina has reacted to pending legislation designed to shed more light on the murky world of private equity investments by having allies sponsor their own “transparency” bill that is a big step backwards.
Read more...A Loss in San Francisco
Readers may recall that we were exercised last week about a motion that CalPERS’ attorney had sent to us in advance of his plan to file it.
Read more...ND Ethics Law Potentially Broken on Petraeus Fracking Trip for Private Equity Kingpin KKR
Steve Horn of DeSmogBlog has done important original reporting and uncovered what could be impermissible dealings between North Dakota officials and David Petraeus, in his role as emissary for one of private equity’s best-known players, KKR.
Read more...More on CalPERS’ Sloppy Private Equity Records and Its Aggressive Stonewalling
What is CalPERS trying to hide? The pension fund sweetly professes that we should have the data we’ve asked for, but won’t provide it. It’s latest move shows how deeply it is committed to scorched-earth strategies in dealing with us.
Read more...Private Equity Limited Partners Don’t Get Independent Valuations of Fund Investments
It is perversely considered to be normal to allow private equity general partners to value fund assets on a “trust me” basis. And the limited partners are also awfully trusting in allowing for very thin explanations of distributions (payments) from the funds.
Read more...Debunking the Myth of Private Equity’s Superior Returns
Why private equity returns are nowhere near as juicy as most investors in private equity believe.
Read more...The KKR Capstone Scam: A Picture Worth 10,000 Words
A revealing image, and more investigation of KKR’s all-too-clever wordsmithing strongly indicate its claim that KKR Capstone is not an affiliate does not stand up to scrutiny. This is a serious charge because if the critics are right, KKR is embezzling.
Read more...Private Equity Says “Nothing to See Here” on Secret Document Release, So Why Not See Them All?
In response to media inquiries, private equity firms have reversed themselves on their position that revealing limited partnership agreements would hurt them. So there should be no objection to passing legislation in every state to make these agreements subject to disclosure.
Read more...Where Have All the Fiduciaries Gone? Even Rich People Can’t Escape Being Screwed
A new case filed against Deutsche Bank’s wealth management business shows that even money can’t buy safety from predatory finance.
Read more...The Surprising Information that Private Equity Limited Partners Don’t Get
Private equity firms invest in companies, yet the limited partners in the overwhelming majority of funds can’t see their financial statements. And there’s good reason to be concerned.
Read more...Media Starting to Wake Up to Private Equity Grifting
It’s encouraging to see Dan Primack, a seasoned private equity reporter who has been careful about taking up negative stories about his industry, take the latest wave of private equity fee-skimming reports seriously.
Read more...Why Have Private Equity Limited Partners Done a Lousy Job of Protecting Their Interests?
How did supposedly sophisticated limited partners let themselves enter into contracts with private equity firms that are actually pretty one-sided?
Read more...The Private Equity Limited Partnership Agreement Release: The Industry’s Snowden Moment
We’ve published 12 private equity limited partnership agreements, including the KKR limited partnership agreement that was key to an important Wall Street Journal story. The source documents have been removed from the Pennsylvania Treasury’s website, so our document trove has now become the best source for these records.
Read more...A Warm Welcome to Our New Private Equity Readers
Naked Capitalism welcomes its new readers from the private equity industry.
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