When you woke up this morning, chances are your morning routine was touched in some way by a private equity firm. From the water you drink to the roads you drive to work, to the morning newspaper you read, Wall Street firms are playing an increasingly influential role in daily life. So says a compelling new article in The New York Times, “This Is Your Life, Brought to You by Private Equity.” For more, we speak with New York Times reporter Danielle Ivory, one of the contributors to the series as well as co-author of the recent article “When You Dial 911 and Wall Street Answers.”
TRANSCRIPT
JUAN GONZÁLEZ: When you woke up this morning, chances are your morning routine was touched in some way by a private equity firm. From the water you drink to the roads you drive to work, to the morning newspaper you read, Wall Street firms are playing an increasingly influential role in daily life. So says a compelling new article in The New York Times, “This Is Your Life, Brought to You by Private Equity.” The multimedia infographic chronicles how, since the 2008 financial crisis, private equity firms have bought underperforming businesses and worked to maximize profits, only to sell them off.
AMY GOODMAN: Now Wall Street investors are controlling critical public services in municipalities across the country, including fire and ambulance. According to the report, under the control of private equity firms, response times for fire and ambulance services have often increased, companies have fallen into bankruptcy, residents have been made to pay higher costs for poorer service.
Well, for more, we’re joined by New York Times reporter Danielle Ivory, one of the contributors to the series, as well as co-author of the recent article, “When You Dial 911 and Wall Street Answers.”
Welcome to Democracy Now!, Danielle.
DANIELLE IVORY: Thank you very —
AMY GOODMAN: Welcome back to Democracy Now!
DANIELLE IVORY: Thank you very much for having me on.
AMY GOODMAN: So why don’t we…