LEAD STORY The Great Heist in Plain Sight: Private Credit, Insurance, and Your RetirementForensic accountant Tom Gober has spent years tracking what he calls the most dangerous intersection in American finance: the takeover of the $9.3 trillion insurance industry by private equity firms. On a recent episode of The Eisman Playbook, Steve Eisman, the man who saw 2008 coming, interviewed Gober and laid out how firms like Apollo, KKR, and Brookfield are using captive insurance subsidiaries to funnel policyholder money into illiquid private credit investments. The policyholders, often retirees depending on annuity payments, have no idea their…
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