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Elizabeth Warren: “The CEO of the private equity firm that wiped out hospitals…”

Featuring: Elizabeth Warren, Democratic | U.S. Senate, Massachusetts

Private Equity Guts Everything from Red Lobster to Hospitals: Let's Talk About the Economy Episode 5

Published November 13, 2025 | Video Starts at 03:59

Who's going to hire a 75 year old man? And he's got to figure out a way to start over. Meanwhile, the owners of these private equity firms are living large. The CEO of the private equity firm that wiped out hospitals in Massachusetts owned not one, but two yachts. While people may have died because of his financial cost cutting. We talked about Red Lobster, but it's not just retail stores. (03:59–04:06)

CLAIM

Asserts that a private equity CEO owned two yachts while their firm negatively impacted hospitals.

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.

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Elizabeth Warren

“Companies bought by private equity firms are 10 times more likely to go bankrupt than those that aren't.”
Private Equity Guts Everything from Red Lobster to Hospitals: Let's Talk About the Economy Episode 5 | Uploaded November 13, 2025 | 01:23-01:31
“Private equity firms collect all of the benefits of owning the other companies, but take on none of the risk.”
Private Equity Guts Everything from Red Lobster to Hospitals: Let's Talk About the Economy Episode 5 | Uploaded November 13, 2025 | 02:59-03:06
“A private equity firm bought out a hospital and drove it into the ground.”
Private Equity Guts Everything from Red Lobster to Hospitals: Let's Talk About the Economy Episode 5 | Uploaded November 13, 2025 | 04:22-04:27
“A prison health care contractor owned by private equity cut corners on costs.”
Private Equity Guts Everything from Red Lobster to Hospitals: Let's Talk About the Economy Episode 5 | Uploaded November 13, 2025 | 04:49-04:56
“Washington has done next to nothing to rein in these [private equity] firms.”
Private Equity Guts Everything from Red Lobster to Hospitals: Let's Talk About the Economy Episode 5 | Uploaded November 13, 2025 | 05:32-05:32
“I'm working on a few different bills that would put a stop to this [private equity practices].”
Private Equity Guts Everything from Red Lobster to Hospitals: Let's Talk About the Economy Episode 5 | Uploaded November 13, 2025 | 05:37-05:42
“I wrote my Stop Wall Street Looting act to make sure that these private equity firms are held accountable.”
Private Equity Guts Everything from Red Lobster to Hospitals: Let's Talk About the Economy Episode 5 | Uploaded November 13, 2025 | 05:42-05:50
“My Corporate Crimes Against Health Care act specifically addresses the problem of private equity head on in the health care industry.”
Private Equity Guts Everything from Red Lobster to Hospitals: Let's Talk About the Economy Episode 5 | Uploaded November 13, 2025 | 06:14-06:24
“Senators on both sides of the aisle are starting to take notice [of private equity issues].”
Private Equity Guts Everything from Red Lobster to Hospitals: Let's Talk About the Economy Episode 5 | Uploaded November 13, 2025 | 06:53-06:58