This is an over simplification and no one here is saying private ownership is bad. It would be mind boggling if someone were allowed to buy your home with a mortgage in your name, kick you out of it and then sell the home for pure profit. Yet that is exactly what LBO's do. They buy companies using debt which they then transfer to that company, sell off anything of value, fire most of the workers, show some level of profit and sell the company to someone else.