Why are private equity investors buying up fostering agencies & homes in England?
Well, if you think its because they have a better idea of how to support & enhance the well-being of vulnerable your people, you're an incurable optimist.
What the PE firms see is a sector where fee income can be increased easily & money siphoned out of the system to feed investors' 'need' for returns.
Once again we are seeing profiteering on the backs of the vulnerable!
#children #PrivateEquity
h/t Observer
@ChrisMayLA6 because there's a moral hazard and that means opportunities for exploitation where the cost will not be borne by the business.
C.f. Aged care homes in Australia.
You can starve and abandon vulnerable people in care and nobody notices if the industry isn't heavily regulated and monitored. And if the vulnerable die or leave care, well - that's another spot opened up! (Make sure you get that hefty onboarding fee for each new child/aged person taken into care.)
Privatised care facilities are ghoul factories.
Emeritus Prof Christopher May
Biggles 20X6!