Show Notes
Ralph welcomes journalist and author Megan Greenwell to discuss her book "Bad Company: Private Equity and the Death of the American Dream." Then, Ralph speaks to James Zogby (co-founder and president of the Arab American Institute) about the recent Israeli attacks on Lebanon.
Megan Greenwell is a journalist who has written or edited for publications including the New York Times, the Washington Post, New York Magazine, WIRED, and ESPN. She is also the deputy director of the Princeton Summer Journalism Program, a workshop and college-access initiative for students from low-income backgrounds. She is the author of Bad Company: Private Equity and the Death of the American Dream. The real trick with private equity (and this was the thing that made me want to write a book on it) is that when they take out those billions of dollars worth of loans (if you’re buying a bigger company), the private equity firm is not responsible for paying those loans back. Only the portfolio company in whose name the private equity firm has taken the money out is on the hook for that money. And so what you end up with is this split in incentive where what’s good for the private equity firm is not necessarily what’s good for its own portfolio company. Megan Greenwell
[Congress hasn’t repealed the carried interest loophole] because Congress is in the pocket of the private equity industry. 88% of members of the House and Senate take donations from private equity. Interestingly, Donald Trump has called twice for the carried interest loophole to be closed. And still, even he, as much of a stranglehold as he has on the Republican Party, he can’t build support for it among Republicans. Because they’re all taking private equity money, as are the vast majority of the Democrats. So this is not a partisan issue. Megan Greenwell
One of the reasons I was really interested to write this book as a series of narrative profiles of people trying to do something about [private equity] is: none of them are trying to do something about it through the federal government. And I think when we talk about “Only the federal government can save us,” we really risk turning people away from trying to do anything. And I think we’ve seen on the private equity issue there has been some really interesting movement on the state level in several places—real reforms that are much easier to accomplish on the state level than on the federal level. Megan Greenwell
James Zogby is co-founder and president of the Arab American Institute, and he is featured frequently on national and international media as an expert on Middle East affairs. Since 1992, he has written a weekly column— “Washington Watch” —that is published in 12 countries. He is the author of several books, including Looking at Iran: The Rise and Fall of Iran in Arab Public Opinion, The Tumultuous Decade: Arab, Turkish, and Iranian Public Opinion - 2010-2019, Arab Voices: What They Are Saying to Us, and Why it Matters, and Palestinians: The Invisible Victims. Not only are thousands being killed [in Lebanon], but there’s a process underway of demolishing villages, obviously expelling lots of people, creating internal refugees and sectarian tension as a result of it. And clearly (as Israel has stated, and I think we have to believe them), that they actually want to annex the territory up to the Litani River and maybe even further. They call it a buffer zone, but we’ve heard that buffer zone stuff before. It’s merely a way of taking new land and providing opportunities for settlements. James Zogby
As we saw ourselves in Vietnam, as we saw in Iraq and Afghanistan, Israel is now getting PTSD reports that are deeply disturbing to them. They’re getting suicides. They’re getting an exhausted military. They’re not exhausted with the weapons that they’re losing (because they’re losing a lot and they’re using a lot), they’re getting emotionally and physically exhausted. Look, when the soldiers do what they’ve been doing—which is basically
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Ralph welcomes Dr. Alison Galvani, the founding director of the Yale Center for Infectious Disease Modeling and Analysis, and co-author of the forthcoming article, “Projected Economic Gains and Lives Saved Under Universal Health Care in the United States.” Then our constitutional law expert, Bruce Fein, stops by to tell us about a letter he and Ralph sent to states Attorneys General urging them to prosecute Donald Trump for exhorting his followers to commit voter fraud in the forthcoming midterm congressional elections. Finally, we respond to your feedback on how to be a smart voter. Alison Galvani is the founding director of the Yale Center for Infectious Disease Modeling and Analysis and the Burnett and Stender Families Professor of Epidemiology at the Yale School of Public Health, Yale School of Medicine. She has applied her modelling and health economics skills to address public health challenges including HIV/AIDS, Zika, Ebola, influenza, and COVID-19. And she is co-author of the forthcoming article “Projected economic gains and lives saved under universal healthcare in the United States.” We analyze the American healthcare system as a national balance sheet. And on one side of the ledger, we have: covering the uninsured and expanding care for the uninsured (that costs money). And we took into account that utilization will increase for people that currently have inadequate health care… And when we initially started looking at this in 2019…I anticipated a hefty price tag as well. Our work has focused on the effectiveness and cost-efficiency of public health policy in the US and around the world, and usually we’re asking: How much will it cost to save lives? And we rarely get a no-brainer where you save money and you’re saving lives. Alison Galvani
Ralph speaks to Dr. Feroze Sidhwa for an update on the death toll in Gaza as well as the new documentary film “American Doctor.” Then Ralph and economic William Lazonick discuss Nvidia’s planned $235 billion stock buyback. Dr. Feroze Sidhwa is a general, trauma, and critical care surgeon in California. He is also a humanitarian surgeon who has worked in Palestine, Ukraine, Haiti, Zimbabwe, and Burkina Faso. He most recently volunteered at Nasser Medical Complex in Khan Younis, Gaza. He was blocked from entering Gaza by Israel’s Shin Bet intelligence service in November 2025. His work in Gaza is featured in the new documentary film American Doctor. If I’m remembering the exact time right, March of 2016 was the deadliest month for children that [Airwars] had ever studied anywhere—so that’s the 31 days of March of 2016. In the first 25 days of the US-Israeli assault on Gaza, the rate of killing of children was 71 to 142 times higher than in the deadliest month they had ever studied for children anywhere else. And just to put these numbers in a little bit of perspective…If you look at Russia’s invasion of Ukraine versus Israel’s invasion of Gaza, Russian forces killed the same percentage of children in Ukraine in 10 months as the US and Israel kill in Gaza every 18 to 37 hours. Dr. Feroze Sidhwa
Ralph welcomes Mary Berry the daughter of the late American novelist, poet, essayist, environmental activist, cultural critic, and farmer, Wendell Berry. Ms. Berry runs the non-profit Berry Center in New Castle, Kentucky, which serves as a repository for the study of small farm agriculture and preserves the legacy of her family’s work. Then, with the midterms on the horizon, Ralph and the team talk about how to be a smart voter. Plus, Ralph has some choice words for the U.S. Chamber of Commerce’s so-called “Free Enterprise Express.” Leave a comment about how you are a smart voter. We will collect these and discuss them on our next program. Click the button below to get Professor Laura Nader’s book Controlling Processes.
Ralph welcomes “New York Times” reporter Natasha Singer to discuss her new book, “Coding Kids: Big Tech’s Battle to Remake Public Schools.” Then, Ralph talks about Donald Trump’s midterm convention speeches and the latest impeachment drive with Constitutional law expert Bruce Fein. Natasha Singer is a New York Times reporter covering the intersection of technology, business and education. She has covered tech industry influence in schools for the New York Times for more than a decade, and her school tech reporting helped prompt California to enact a landmark student online data protection law. In 2019, she was part of a Times team whose tech coverage won a George Polk Award and was a Pulitzer Prize finalist for National Reporting. She is also the author of the book Coding Kids: Big Tech’s Battle to Remake Public Schools. It’s not about the companies immediately making money off schools. It’s about influencing kids, getting customers early and for life. But I think more importantly, it’s about imprinting Silicon Valley worldviews and values on young people. So that you get docile consumers who maybe aren’t worried about wholesale surveillance and data gathering, and docile employees who are not going to push back against being surveilled by their employer or using AI tools or having AI replace them. And so I think this story about tech companies capturing the classroom is not just about how they’re shaping learning. It’s about how some of the most powerful, wealthiest corporations on the planet are able to influence school systems. Natasha Singer