With this episode, I’m reminded of when I did my first show on the sub-prime crisis. BRENDAN BALLOU, a federal prosecutor, explains how private equity has reshaped American business - from nursing homes to prisons, emergency rooms to apartment buildings - by raising prices, reducing quality, cutting jobs, and shifting resources from productive to unproductive parts of the economy. What’s worse, as of now PEs are legally shielded from liability for the consequences of their actions.