And now comes an outbreak of the deadly Ebola virus, the contagious and incurable fever that makes its victims bleed to death through their ears, nose, throat, everywhere.

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We would not have been enabled to bleed away our wealth through two generations of deficit spending.

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As for the criticism that PE firms bleed cash out of companies through debt-financed dividend recapitalizations, the data show that such deals consistently have lower initial leverage and, therefore, lower default rates than those seen in the broader market.

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