A well-documented, maddening book that cries out for legislative reform and regulation.
The troubled story of private equity, which is anything but equitable.
Private equity, write financial journalists Morgenson and Rosner, typically builds nothing. Instead, it leverages troubled companies, loots what assets they have, trims expenses to the bone, and often leaves acquisitions in bankruptcy or ruin. One philosopher the authors quote calls it “asshole capitalism,” and while the authors are a touch more genteel, they don’t hesitate to call the practitioners of “this rapacious form of capitalism” pirates and worse. By way of example, they look into the private-equity acquisition of nursing homes, a favorite target. In those cases, equity ownership equates to a far higher death rate, more visits to emergency rooms, and increased Medicare costs. Private equity has also absorbed huge chunks of the medical sector, laying off doctors and cutting out essential services even at the height of the coronavirus pandemic. On that note, the authors observe, private owners took great pains to use the cheapest possible ventilators for Covid-19 patients in critical care, which finally resulted in a federal fine of $40.5 million, a fraction of what they made. As Morgenson and Rosner clearly show, the pirates are flourishing; while there were but three “debt-fueled billionaires” in 2005, there were 22 in 2020. Much of this wealth comes from self-dealing, for apart from owning medical providers, private equity is also heavily invested in insurance, ripe with the possibilities of conflict of interest. No matter what the sector—and equity is now moving rapidly into education—the modus operandi is the same: “slash costs, eliminate higher-paid union workers, and reduce employee benefits; shut down less profitable divisions; or acquire competitors to bolster the pricing power of the company they own.” In addition, these firms, which have doubled in number in the last decade—are well protected in Congress.
A well-documented, maddening book that cries out for legislative reform and regulation.Pub Date: May 9, 2023
ISBN: 9781982191283
Page Count: 384
Publisher: Simon & Schuster
Review Posted Online: Feb. 23, 2023
Kirkus Reviews Issue: March 15, 2023
BOOK REVIEW
Maher calls out idiocy wherever he sees it, with a comedic delivery that veers between a stiletto and a sledgehammer.
The comedian argues that the arts of moderation and common sense must be reinvigorated.
Some people are born snarky, some become snarky, and some have snarkiness thrust upon them. Judging from this book, Maher—host of HBO’s Real Time program and author of The New New Rules and When You Ride Alone, You Ride With bin Laden—is all three. As a comedian, he has a great deal of leeway to make fun of people in politics, and he often delivers hilarious swipes with a deadpan face. The author describes himself as a traditional liberal, with a disdain for Republicans (especially the MAGA variety) and a belief in free speech and personal freedom. He claims that he has stayed much the same for more than 20 years, while the left, he argues, has marched toward intolerance. He sees an addiction to extremism on both sides of the aisle, which fosters the belief that anyone who disagrees with you must be an enemy to be destroyed. However, Maher has always displayed his own streaks of extremism, and his scorched-earth takedowns eventually become problematic. The author has something nasty to say about everyone, it seems, and the sarcastic tone starts after more than 300 pages. As has been the case throughout his career, Maher is best taken in small doses. The book is worth reading for the author’s often spot-on skewering of inept politicians and celebrities, but it might be advisable to occasionally dip into it rather than read the whole thing in one sitting. Some parts of the text are hilarious, but others are merely insulting. Maher is undeniably talented, but some restraint would have produced a better book.
Maher calls out idiocy wherever he sees it, with a comedic delivery that veers between a stiletto and a sledgehammer.Pub Date: May 21, 2024
ISBN: 9781668051351
Page Count: 384
Publisher: Simon & Schuster
Review Posted Online: March 5, 2024
Kirkus Reviews Issue: April 1, 2024
BOOK REVIEW
BOOK REVIEW
A fierce, penetrating, and empowering call for change.
Artist and activist Vaid-Menon demonstrates how the normativity of the gender binary represses creativity and inflicts physical and emotional violence.
The author, whose parents emigrated from India, writes about how enforcement of the gender binary begins before birth and affects people in all stages of life, with people of color being especially vulnerable due to Western conceptions of gender as binary. Gender assignments create a narrative for how a person should behave, what they are allowed to like or wear, and how they express themself. Punishment of nonconformity leads to an inseparable link between gender and shame. Vaid-Menon challenges familiar arguments against gender nonconformity, breaking them down into four categories—dismissal, inconvenience, biology, and the slippery slope (fear of the consequences of acceptance). Headers in bold font create an accessible navigation experience from one analysis to the next. The prose maintains a conversational tone that feels as intimate and vulnerable as talking with a best friend. At the same time, the author's turns of phrase in moments of deep insight ring with precision and poetry. In one reflection, they write, “the most lethal part of the human body is not the fist; it is the eye. What people see and how people see it has everything to do with power.” While this short essay speaks honestly of pain and injustice, it concludes with encouragement and an invitation into a future that celebrates transformation.
A fierce, penetrating, and empowering call for change. (writing prompt) (Nonfiction. 14-adult)Pub Date: June 2, 2020
ISBN: 978-0-593-09465-5
Page Count: 64
Publisher: Penguin Workshop
Review Posted Online: March 14, 2020
Kirkus Reviews Issue: April 1, 2020
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