[slantedview]

> Why shouldn't it be legal?

Because it's destructive to the economy. The only winners when this happens are the execs who arranged the deal, which is why Twitter's execs pushed so hard for the Musk deal to close even though the outcome was going to be bad for everyone else.

To put it another way - a lot of businesses would still be operating and a lot of people would still have jobs if LBOs were illegal.

[sidibe]

The only winners were the Twitter shareholders, who the execs are supposed to represent.

[papito]

This has been a trend in this late stage Capitalism, if you will. A large group of people spend years and decades building a company that can still grow and produce immense wealth over long-term, but a bunch of grifters roll in and sell it for parts, because "shareholders".

The job of the board is to assure long-term growth of the investment, not a one-time burn-it-all-down event or a slow bleed (GE, Boeing) where the shareholders get unreasonable returns while annihilating the hard work building up the company.

These are not company-building boards, these are company-destroying boards. Literally, vulture capitalists from the inside.