J. Crew Succumbs to Bankruptcy after Private Equity Debt, Financial Looting
Preppy retailer cannot survive retail and coronavirus economic downturn saddled by private equity-imposed financial burdens.
Category Archives: Commentary
Private Equity Vultures Eye Real Estate During Coronavirus Crisis
Now, with 26 million workers unemployed and countless businesses closing indefinitely, private equity firms are salivating at the potential business opportunities that might arise from the expected economic fallout. Unless we take immediate action to prevent it, private equity firms will take advantage of this unprecedented crisis to make even greater asset grabs.
“Coronavirus distress is the ‘opportunity of the century’ for real estate investors,” according to a recent headline in The Real Deal, a New York real estate news publication. The article quotes Meridian Capital Group’s David Schechtman saying “But I will tell you, real-estate investors — when you take the emotion out of it — many of them have been waiting for this for a decade.”
Blog Post: Wall Street’s Secret Pet Profiteering
More and more as we go about our lives, the money we spend is siphoned off to enrich Wall Street firms. Private equity’s pet profiteering is just one way these investors have taken over so much of the economy and our daily lives.
Message to Congress: The CFPB Has Our Back!
What made the latest congressional hearings on the Consumer Financial Protection Bureau different from other hearings? A delegation of consumer advocates from around the country wearing lime-green t-shirts that said “Stand Up for the CFPB” and “The CFPB Has My Back.” They were there to remind lawmakers that the great majority of Americans, across party lines, don’t just like the idea of such an agency; they also support the major steps it has taken to bring a sense of fair play to the financial marketplace.
AFR Demands Investigation of the New York Federal Reserve Supervision Process
AFR today called on the public to contact their legislator and demand hearings into the recent revelations about the bank supervision process at the NY Federal Reserve. A recent story by NPR and Pro Publica shows a disturbing pattern of deference to regulated banks that Congress should investigate.
Elizabeth Warren Rap Video – Got a New Sheriff
Our favorite candidate to lead the CFPA, Elizabeth Warren, is the subject of a new rap video supporting her nomination. The video comes courtesy of our friends at the Main Street Brigade. Want to show your support for Elizabeth Warren? Take a look at this
AFR Cheers on the New Law of the Land As a Win for All Americans
The Wall Street reform legislation is a victory for the American people and a defeat for those who defended the status quo. The bill was signed into law by President Obama on July 21, 2010. Read our posts about the bill. Here’s What the New
Why Small Business Supports Wall Street Reform
STATEMENT FROM THE SOUTH CAROLINA SMALL BUSINESS CHAMBER OF COMMERCE 1717 Gervais Street, Columbia, SC 29201 www.scsbc.org Statement of Frank Knapp, Jr., president and CEO, The South Carolina Small Business Chamber of Commerce. April 21, 2010. Press conference with Senators Richard Durbin, Jack Reed and
“Main Street Lobbyists” Visit Capitol Hill
Grassroots activists from around the country visited the Senate on Wednesday, April 28 with a clear message: it’s time to pass financial reform. Read about their visits here. These activists were part of the huge “Showdown” campaign to hold the banks accountable. Under the campaign’s
Video: SNL Presidents Unite to Support the CFPA
Click here to watch! Then call your Senators toll free (866-544-7573) and tell them to support financial reform. Will Ferrell, Fred Armisen, Chevy Chase, Dan Aykroyd, Dana Carvey and Darrell Hammond, the Saturday Night Live actors who have played every American president since Gerald Ford