Emergency services turn life-threatening under US private equity owners - and a global Trade in Services Agreement would globalize the damage
Private equity funds have surged into US ambulance and firefighting services, with disastrous, even life-threatening results, documented in a recent New York Times article.
Following the Obama administration's health care reform, privately equity funds bet on increased outsourcing and a rapid expansion of revenue. They shopped for emergency service companies, bought them in deals which were loaded with debt, piled on more debt to suck out cash and were unable to deliver basic service when the bet soured. Frantic cost-cutting ensued.