How St. Elizabeth's and Carney got to this point

This story is as old as time.

Struggling firm is hemorrhaging cash
Brings in private equity firm to help
When things don't turn around, equity firm cashes out
Leaves firm in even more dire straits than it was before.

This has been happening for a very long time. Carney/St Elizabeths was the next victim. Thats the whole point of these 'equity' firms.. such as much as cash as possible out of a company, even if it means bankrupting the firm in the process. They don't care about employees or customers (in this case, patients).. or anything really, as long as they get the cash.

Sad to say that Cerebrus was brought in thinking it would make money off people's suffering. This is where we're at these days with our healthcare.

Caritas Christi were bought by capital vampires whose company name is the multi-headed demon dog guarding Hades...and nobody could have expected what would come next?

Devil 1, Nuns 0

And now the partially built Norwood hospital is in limbo.

This scam needs to end. I hope we can claw back some the money they stole.

This entire mess is absolutely terrifying. If, and I do mean if, these hospitals close, it will be a hot mess in the Brockton area. Brockton Hospital is still off-line until the fall. Norwood wasn’t expected to be completed until next fall 2025. Morton Hospital, as awful as it is, won’t be an option. This will leave Milton Hospital, South Shore, Hospital, Beth Israel Plymouth, and some sad hospital in Attleboro.

Welcome to a public health, crisis folks. Please leave your copayments at the door, and have a nice day.
Peace/out

We have the most expensive health care in the western world with some of the worst outcomes and a dropping life expectancy, but some vulture capitalists are able to get rich by sucking the remaining life out of desperately needed community hospitals, so I guess that's nice.

We need single payer health care in this country ASAP.

The Stewart debacle is only one chapter of a bigger story. A while ago I got into a rabbit hole reading about Steven Feinberg, founder and CEO of the Cerberus private equity firm.

This guy's only drive is money and guns -as in owning multiple manufacturers of AR-15 including the most infamous Bushmaster brand.

Among other things, Steven's failing businesses received $billions of bailout money from Obama's rescue plan in 2009. To repay the country a favor, he became one of the largest donors of the 2016 Trump campaign and was appointed as Trump's top economic advisor.

Because he is very secretive, Steven is not a household name but he is way up there among america's top villains. I hope someone makes a movie about him some day -or at least a decent documentary.

Here is a good read for when you are stuck on a broken train.
https://nymag.com/intelligencer/2016/11/a-billiona...

We do have evidence that Ralph de la Torre bought a $40 million mega-yacht a few months after he paid himself an apparent nine-figure dividend, and that at some point in 2022 a vehicle called Sagamore Capital Management that is controlled by de la Torre’s close associate Robert Gendron acquired a Dassault corporate jet he supposedly uses for business purposes.

I’ve never worked for Steward, but know people who do. Why have I been hearing complaints from staff about how Ralph was raiding and pillaging Steward for almost a decade?

There are absolutely systemic problems in the US healthcare system, but sometimes those problems are caused by obvious culprits. Let’s say their names out loud.