The Junk Food That Is an American Tradition
Remember when Twinkies went out of business and people mourned the loss of such a time-honored treat? How could such a sorry state come to pass? Weren’t Twinkies profitable any more? Were people consuming less of them because they were mostly sugar and not good for you? Wrong and Wrong.
As it turns out, it was all about some hedge fund shananigans designed to make the wealthy even wealthier while sacrificing the jobs and pensions of loyal workers. It’s called financial engineering, and it creates profits by destroying jobs.