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As the gulf between rich and poor widens across America, here's the why, the how and the who. Coming April 25, 2023.
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Thank you @helaineolen for flagging "These are the Plunderers" in this review and for noting "private equity firms like Apollo are stuffing life insurance balance sheets with risky loans." prospect.org/2026/09/25/oct…
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Search for "vandalism." observer.co.uk/culture/books/…
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Elizabeth Warren is asking if insurance industry needs more regulatory muscle to combat growing risks. A good focus, given the Walter revelations. nbcnews.com/business/busin…
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If you own an annuity and think regulators are keeping you safe--read this. nbcnews.com/business/busin… via @nbcnews
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Letting risky investments into retirement accounts will help Wall Street. But investors? nbcnews.com/business/perso…
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gretchen morgenson retweeted
@gmorgenson story on the important MLB MLBPA pensionon on NBC News IG. It is not just the pre-1980 players that have issues. Pension, stipend and benefits are all part of the next CBA and these issues have not been mentioned by either side.
Thankful for NBC News treating this story seriously. I hope that this turns the trend of it being almost entirely ignored by the baseball press.
instagram.com/p/DbjCnX6iQZ_/
Thankful for NBC News treating this story seriously. I hope that this turns the trend of it being almost entirely ignored by the baseball press.
instagram.com/p/DbjCnX6iQZ_/
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gretchen morgenson retweeted
@gmorgenson Very sorry to see this article is behind a paywall; information about the plight of hundreds of pre-1980 players should be open sourced and widely known! In essence, the rules were changed in the 1980 CBA, which left out thousands (at the time, now a few hundred) out of luck.
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"Waiting for us to die." Ex-MLB stars call out the multi-billion-dollar league on unjust retirement pay. nbcnews.com/news/us-news/f…
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An insurance company deciding what Medicare should cover means millions of women may not receive a breast cancer test hailed by doctors nbcnews.com/news/us-news/m… via @NBCNews
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Try not to get sick in Las Cruces. A community hospital run by an Apollo-owned company charges 1000% markup over Medicare. nbcnews.com/business/perso…
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Documentary Argues Pensions’ Move Into Alternatives Comes at a Cost institutionalinvestor.com/article/docume…
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Nation’s largest public pension fund plagued by secrecy and underperformance, probe finds nbcnews.com/news/us-news/n… via @NBCNews
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gretchen morgenson retweeted
She Bought “Safe” Retirement Income.
The Company Collapsed Anyway.
NBC reports Annie Benjamin’s insurer, PHL, owned by private equity, collapsed in 2024 after risky investments and shady reinsurance deals.
Her account is now frozen, and 100,000 policyholders may only get back owed
State regulators missed, or approved,the red flags.
“The failure of PHL is the perfect example of what happens when an insurance company hides a black hole on its balance sheet,” said Thomas Gober, a former examiner for the Mississippi Insurance Department….
“Once you can finally see it, the hole has gotten so big that it’s too late.”…
“The regulators are not just a little bit wrong,” said Larry Rybka, founder of registered investment adviser Valmark Financial Group in Ohio. “They are so far off that it’s catastrophic.”….”
@tobecb
The Company Collapsed Anyway.
NBC reports Annie Benjamin’s insurer, PHL, owned by private equity, collapsed in 2024 after risky investments and shady reinsurance deals.
Her account is now frozen, and 100,000 policyholders may only get back owed
State regulators missed, or approved,the red flags.
“The failure of PHL is the perfect example of what happens when an insurance company hides a black hole on its balance sheet,” said Thomas Gober, a former examiner for the Mississippi Insurance Department….
“Once you can finally see it, the hole has gotten so big that it’s too late.”…
“The regulators are not just a little bit wrong,” said Larry Rybka, founder of registered investment adviser Valmark Financial Group in Ohio. “They are so far off that it’s catastrophic.”….”
@tobecb
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gretchen morgenson retweeted
She paid an insurance company $99,000 to generate retirement income for life. Then it collapsed. Excellent job by @gmorgenson What a world we live in nbcnews.com/news/us-news/p…
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Annuity buyers trust state insurance regulators to keep them safe. Unwise, some experts say. nbcnews.com/news/us-news/p…
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gretchen morgenson retweeted
$BN An interesting article from @gmorgenson talking about the insurance angle.
nbcnews.com/news/us-news/p…
nbcnews.com/news/us-news/p…
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Thank you @maxcanthelpit
@RudyHavensteinave been, and remain, women. From Ida Tarbell to @gmorgenson. Th@gmorgensonns have purged almost all their women. The Democrats are half-hearted in their support of women. I never believed we'd go backwards here, but here we are.
They're out there, but diffuse. Want to understand why farmers vote for Trump? youtu.be/rZQxCvbLG6U?si…
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Why did Live Nation send its CFO, not CEO, to testify before Congress about ticket pricing in 2023? nbcnews.com/news/us-news/e… via @nbcnews
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