Here's an open secret: the confusing jargon of finance is not the product of some inherent complexity that requires a whole new vocabulary. Rather, finance-talk is all obfuscation, because if we called finance tactics by their plain-language names, it would be obvious that the sector exists to defraud the public and loot the real economy.
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@pluralistic LBOs still make me think of Michael Milken, Barbarians at the Gate, and Other People's Money. Of course, the last was a Hollywood movie with a happyish ending that doesn't exist in real life, but it explains how the scam works in an easy 103 minutes.
https://m.youtube.com/watch?v=oOTlqs_j4IE
And instead of being made illegal in the 30 years since LBOs tanked the Poppy Bush economy, they've been normalized at internet speed. #Enshittification
Cory Doctorow
Rachel Rawlings