Gillian Tett

speaker

1,226 appearances 12 recordings 1 series first heard May 2026 last heard 2 Sep

Gillian Tett’s voice in public audio — every appearance, attributed to the second.

Trend

recordings per month · last 12 months

Recordings per month over the last 12 months — 12 in all, peaking in Jul 2026 with 4.

Appearances

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The Story of Money · The 1980s Garfield buyout that changed corporate finance · 1 Jul 2026 podcast

So how does the LBO industry respond? voice-verified

What happens next, Hetty? voice-verified

And what actually happens to William Simon? voice-verified

I mean, this really fascinating character who had seven kids, worked in the government, and was an evangelist for free market capitalism in a very black and white way. voice-verified

Does he end up getting what he would regard as his just rewards? voice-verified

In many ways again, that's quite a common pattern in financial history that someone has a brilliant success and rather than just stopping and celebrating it, voice-verified

feels, you know, motivated to try it again and again and it goes wrong. voice-verified

And you often do end up with seemingly successful teams later falling out with each other. voice-verified

But um what actually happened to LBOs? voice-verified

Because you would have thought that after this explosive boom, voice-verified

that when it turned sour, the whole idea would have died. voice-verified

But whether you call it private equity, whether you call it LBOs, they didn't just go away and die voice-verified

Of course the irony in all this is that you're also ending up with these vast private equity companies, um, that in some ways are actually looking a bit like the kind of bloated bureaucratic establishment firms that the LBO pioneers back in the nineteen eighties like to attack. voice-verified

I mean that's a tremendous irony, isn't it? voice-verified

I think was fascinating actually. voice-verified

And to what degree was this a kind of made in America phenomenon? voice-verified

I mean voice-verified

As you say, it was driven by William Simon's belief that the country was under threat from socialism, communism, they had to fight back. voice-verified

Um and of course America's always had a much more buccaneering, risk taking voice-verified

um profit seeking mentality, arguably, than much of Europe. voice-verified

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