RaymondPierreL3[edited for typos]
Financiers, #PrivateEquity and big corporations exist solely to hoover up money wherever they can. There are no other considerations in their investment decisions. #EatTheRich before you find yourself on the menu, because you’ll never get a seat at the table (kind of paraphrasing the Canadian PM’s speech at Davos)
This occurs not just in classic #StateCapture scenarios when public assets are sold off to mates, but it also occurs in the private sector as well. Case in point: #Healthscope #hospitals.
“In 2019, Brookfield, a Canadian private equity firm, bought all 38 Healthscope hospitals across Australia, and sold the land they on to investors, who then leased it back to Healthscope. Now, the hospitals, who should have been focused on providing healthcare to Australians, have to worry about paying the rent to their land lord.
By 2025, Healthscope was drowning in $1.6 billion in debt and entered receivership to save the 38 hospitals around Australia. All the while, they kept having to pay rent, which kept flowing offshore.
Now, to get out of the conundrum, Healthscope wants to restructure as a not-for-profit business. But the foreign landlords who own the land the hospitals are on are refusing to negotiate rent concessions, even in the event that Healthscope becomes a not-for-profit. This is what happens when private ownership hollows out institutions. Healing people becomes secondary to making money.” (Source: The Point on-line - The Australian Institute, today.
You might say: ‘There’s not much I can do.’, but if you begin by boycotting #PrivateHospitals ,you, know, those that make a buck out of our suffering, that would be a great start. There are consequential flow on effects that I cannot go into here, but it could all be worked out in the end.
Peter Riley
News Beep
Frank
