The Disease of Leftism

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Spain . . .

When the private equity giants Blackstone, Cerberus, and Lone Star bought up more than 400,000 Spanish homes in the past decade’s largest megadeals, they barely dipped into their own reserves, relying instead on low interest rates. Their Spanish subsidiaries often answer to parent structures in Luxembourg, the Netherlands, the Cayman Islands, or Delaware: a textbook case of what Michael Goldman calls the Hidden Empire of Finance.

 
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