It’s the old story: Load up companies with debt, pull out all the value, and leave them as a dead shell.
bankruptcy
Posted inHealth and Social Policy
A Hospital Empire Is Closing Its Doors—but the Stock Is on a Tear
More than a dozen hospitals employing tens of thousands have either shut this year or are on the brink, while two shadowy figures prop up their owners’ stock.
Posted inVideos
The Prospect Weekly Roundup: The Silicon Valley Gang
On our live show, David and Moe break down who is really running the show in Washington.
Posted inLaw and Justice
Crisis Actors
The Alex Jones bankruptcy case revealed where the real hoaxes exist in this country: in our most elite courtrooms.
Posted inHealth and Social Policy
A Private Equity Hospital Bankruptcy Gets a True-Crime Twist
Prospect Medical Holdings is the latest sordid tale of legalized hospital embezzlement killing patients and communities. But the judge assigned to its bankruptcy raises eyebrows in a good way.
Posted inHealth and Social Policy
Are Democrats Even a Little Serious About Stopping Private Equity?
A notorious health care looter claims a Senate investigation into his private equity–enabled hospital collapse is a superficial show trial. Did Gavin Newsom just prove him right?
Posted inMoney, Politics, and Power
A Toxic Explosion in Private Equity Payouts
Private equity barons just pocketed as much as $850 million from the company behind this week’s massive chemical blast in Georgia.
Posted inHealth and Social Policy
‘Steward Health Are Health Care Terrorists’
A fiery Senate committee hearing promised accountability for hospital looter Ralph de la Torre, but new raids are already under way at the hospitals and the broader health care system.
Posted inHealth and Social Policy
Hospital Looter Says ‘Nah’ to His Senate Subpoena
The Steward yacht collector tells Bernie Sanders that testifying next week could jeopardize ‘patient care,’ or something; meets bipartisan contempt.
Posted inHealth and Social Policy
Can’t Pay Won’t Pay
Steward’s evasion of creditors in its spectacular bankruptcy even includes the wrongful death settlement for a young mom.