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You’ve been tasked with defining a new area of criminal law called “economic and financial violence,” and creating laws to prevent it. What actions would you try to criminalize? (lemmy.world)
submitted 9 hours ago by to c/asklemmy@lemmy.world
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For example: private equity firms buying trailer parks and raising rents so high that people go bankrupt

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[–] 7 points 8 hours ago (3 children)

Private equity buying up something and running it to the ground to sell for parts.

I don’t think it’s possible to criminalize it nor do I think that it’s the worse thing out there, but I think it should be illegal

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  • [–] [S] 7 points 8 hours ago (1 child)

    This one really bugs me. I worked for a company that got bought out by private equity. They sold most of the real estate that the company owned to a company that the same private equity people owned, and then made the stores pay exorbitant rent for the property the used to own. Meanwhile, they sold pieces of the company until there was nothing left, and then closed all the stores. Thousands of people lost their livelihoods.

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