Warren’s Attack On Private Equity Industry Isn’t Just Bad For Wall Street, It’s Bad For Main Street


PA Pundits - International

By Norbert Michel ~

Politico reports that progressive Democrats are set to “crack down” on the private equity industry, with Sen. Elizabeth Warren, D-Mass., likely to reintroduce her 2019 Stop Wall Street Looting Act.

Warren has said: “For far too long, Washington has looked the other way while private equity firms take over companies, load them with debt, strip them of their wealth, and walk away scot-free—leaving workers, consumers, and whole communities to pick up the pieces.”

Sen. Elizabeth Warren is likely to reintroduce her 2019 Stop Wall Street Looting Act. The bill is based on a backwards understanding of the private equity industry. (Photo: Graeme Jennings-Pool/Getty Images)

This backward view of the private equity industry—and the American free enterprise system itself—is dangerous. It threatens millions who depend on jobs made possible by capital from private equity, and it is especially harmful at a time when people are struggling…

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