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[Congress hasn’t repealed the carried interest loophole] because Congress is in the pocket of the private equity industry. 88% of members of the House and Senate take donations from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 inhuman behavior, I mean, it’s disgraceful behavior—it begins to eat away at the soul. You get these suicides. You get these emotional collapses. And what gets me upset is that—72,000 Palestinians dead, a few Israeli soldiers having PTSD and trauma and committing suicide becomes a news story? My feeling has to be with the Lebanese and Palestinians.

James Zogby

When I hear on the DNC from other members who say to me, “When you talk about Israeli genocide, that’s anti-Semitic, it makes me uncomfortable,” I said, “You know what makes me uncomfortable? That genocide is actually taking place. And it makes me equally uncomfortable that you won’t admit it or even want us to talk about it.”

James Zogby

News 4/17/26

* Our top story this week comes to us from New York City, where Mayor Zohran Mamdani is delivering on yet another campaign promise thought impossible by mainstream pundits and beltway insiders: the creation of municipal grocery stores. Capping off his first 100 days in office, Mayor Mamdani delivered remarks in front of La Marqueta in East Harlem, the site of one of the original city-run grocery stores created under Fiorello LaGuardia. Mamdani laid out how the stores will operate, noting that while “A private operator will run the store,” they will “answer to the standards the city will set…[including] requirements that at our stores bread will be cheaper. Eggs will be cheaper. Grocery shopping will no longer be an unsolvable equation. And workers will be treated with dignity.” Mamdani plans to have the first of these stores open in 2027 and stores in all five boroughs open by the end of his term in 2029. This from NBC4 New York.

* Meanwhile, in New York’s 10th congressional district, former NYC Comptroller and Mamdani ally Brad Lander is aligning himself with AOC and calling for an end to U.S. aid to Israel. In a meeting with a group of local journalists, Lander said “We need to follow the Leahy Law and condition all of our foreign policy aid on human rights and international law compliance…At the moment, Israel is very far from complying with human rights and international law. So I would not vote for any more aid,” adding that he “hopes” Israel will “[get] there.” The Forward notes that this is an evolution from the position he took during his mayoral candidacy last year. At that time Lander opposed sending offensive weapons to Israel, but believed that the US should keep funding Israel’s Iron Dome, per the New York Post. Through a representative, Lander’s opponent in this race, incumbent Congressman Dan Goldman, told the Forward he “will always support defensive systems,” like Iron Dome.

* The liberal Zionist organization J Street is also shifting its position. The Middle East Eye reports the group is calling for an end to “direct” US military support to Israel, according to a new policy paper. To be clear however, while this does mark a shift from J Street’s previous position that the U.S. should provide defensive weapons systems – like resupply for Iron Dome, at no cost to Israelis – J Street now argues that Israel should simply purchase these weapons instead. In short, J Street is arguing that Israel is rich enough to provide for its own defense and that the American financial subsidies are “unnecessary and politically counterproductive, creating avoidable tensions in US domestic politics and in the bilateral relationship.” This is in line with statements by Netanyahu himself, who has made it clear that Israel wants to reduce its reliance on U.S. military aid “all the way down to zero.”

* In other news, Reuters reports Apple is closing several of its brick-and-mortar stores, including the first ever unionized Apple store. Over 100 workers at the store, located in Towson Town Center mall in Maryland, voted to join the International Association of Machinists & Aerospace Workers (IAM) in 2022; Reuters notes that “a similar union drive in Atlanta [around that same time] was withdrawn, ‌with ⁠Apple workers alleging intimidation.”At the other stores being shuttered, employees were offered the option to continue their jobs at other nearby Apple stores. At the Towson store however, Apple is claiming that the collective bargaining agreement prevents relocation. The union says this is “false” and is reportedly exploring all legal options. IAM also expressed “serious concerns that this closure is a cynical attempt to bust ⁠the union.”

* Elsewhere in Maryland, the state legislature has passed the Protection from Predatory Pricing Act. This bill, which Gov. Wes Moore has vowed to sign into l...