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Mark can’t fathom how it’s legal to take out a big loan to buy a company, then transfer all that debt to the newly-acquired company and force it, in effect, to pay off its own purchase price via draconian cost-cutting measures that can destroy it in the process.  He challenged Joe to make the case for such transactions.  Together, Joe and Mark try to make sense of leveraged buyouts, vulture capitalism, and the “barbarians at the gate” who employ these tactics. (Recorded May 27, 2022.)