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| Joined: | Mon Nov 21st, 2005 |
| Location: | California USA |
| Posts: | 6399 |
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Predatory funds are not new. They first appeared about 15 years ago, but have recently reached alarming proportions, encouraged by cheap credit facilities and sophisticated financial instruments. The basic principle is simple: A group of wealthy investors buys up companies and manages them privately, without reference to the stock exchange and its restrictive rules and without having to answer to shareholders.
The idea is to get round the fundamental principles of capitalist morality and back to the law of the jungle.
Excuse me but that is a rather inacurate thing to report.
Capitalism according to one of the founders is the law of the jungle:
“every individual will attempt to secure his own requirements as completely as possible to the exclusion of others.” Carl Menger (1840 -1921)