Vulture capitalists are looking to take over human’s most precious resource -

1 post / 0 new

– water. According to a new report by Food & Water Watch, a growing number of pirate equity firms are moving into struggling cities and buying out their public infrastructure – namely – the city’s water infrastructure. Anyone who is familiar with Mitt Romney – is familiar with pirate equity firms like Bain Capital – which take over a company – strip it to the bones – and sell it off for a profit.

When this strategy is used on public utilities – then consumers get screwed with insufficient services and price hikes. As Food & Water Watch executive director Wenonah Hauter warned, “Like Wall Street’s manipulation of the housing market in the previous decade, private equity firms and investment bankers are increasingly looking to cash in on one of our most essential resources—water.

These deals are ultimately a bum deal for consumers, who will end up paying the price through increased water bills and degraded service.” As of January 2012, pirate equity firms raised nearly $200 billion to take over nearly 300 water infrastructure units. This is just the latest consequence of corporate capitalism run amok in America.

We are no longer manufacturing wealth together as a nation for our economy. We now have Wall Street preying on the rest of us to make a buck.

Thom Hartmann Administrator's picture
Thom Hartmann A...
Dec. 29, 2009 10:59 am

Latest Headlines

White House opposes bill blocking Iran nuclear deal

President Barack Obama will veto the bill, saying that the Iran nuclear deal addresses only nuclear issues

Where would Afghanistan be today if the US and Russia had just left it alone?

The United States and Russia are really in a very awkward place right now

Kremlin: Syria air strikes target 'a list' of groups

US Senator John McCain said he can confirm Russian air strikes were against the Free Syrian Army recruits

"The market has become tilted..."

It seems like the most popular word in this election cycle is 'inequality,' but we need more than talk to narrow the great divide between the haves and have-nots in our nation.

According to a recent article by former Labor Secretary Robert Reich, the pro-corporate elite have rigged the system against us, and it's going to take the majority of us standing together to change the system.

Powered by Drupal, an open source content management system