Category Archives: In the News

In The News: Advocacy Group Calls for Checks on Private-Equity Debt (The Wall Street Journal)

Andrew Park, senior policy analyst for hedge funds and private equity at Americans for Financial Reform and the author of the report, estimates the volume of leveraged loans and high-yield debt outstanding has roughly doubled since 2008, while the volume of direct-lending debt has increased from virtually zero to an estimate of more than $1 trillion.  “The fact is that there is no good way to understand how indebted companies actually are,” [Mr. Park] said. “We have guesses and estimates based on the data out there, but there is no standardized way to look at it.”

In The News: Postal Service will electrify trucks by 2026 in climate win for Biden (The Washington Post)

“The fact that there were no commitments for the vehicles to be union-made is a glaring omission for an administration that prides itself on being union friendly,” said Porter McConnell, campaign director of the consumer rights group Take on Wall Street and co-founder of the Save the Post Office Coalition. “We will be looking to future announcements committing to the Oshkosh and the commercial off-the-shelf vehicles being union-made, which we know is entirely feasible.”

In The News: Albertsons wants to issue a $4 billion ‘special dividend.’ Critics call it ‘looting.’ (The Washington Post)

“Private equity firms have a long track record of being extractive — that is, extracting wealth from their portfolio companies,” said Carter Dougherty, spokesman for the Americans for Financial Reform, which advocates for regulation of private equity. “When you see Cerberus shaking $4 billion out of a company in a difficult industry like groceries, it’s not out of bounds to say this is yet another episode of industry abuses.”

In The News: Convenience has consequences (Politico)

“If big banks are going to compare themselves to the worst offenders in payments, then they are already losing the argument,” said Renita Marcellin, senior policy analyst at Americans for Financial Reform. “Their entire argument is built around trying to distract us from their responsibility for fraud in services that they themselves offer their own customers,” she added.