The explosion of low-quality lending has brought debt loads in corporate America to record highs, a development that is likely to bring, in the coming years, a wave of defaults, slower growth, future job losses, and potential instability stemming from the utter opacity of this business. Despite the exponential growth in subprime corporate debt, our laws and regulations have not kept up, leaving policymakers and regulators in the dark as to the exact size of this market and where various risks may exist that could affect other financial institutions, companies, and their workers.
The Paycheck Protection Program, a critical pillar of the CARES Act pandemic relief legislation, failed to equitably distribute money despite an avowed goal of focusing on small businesses, according to a new report from AFREF and six other public interest organizations and labor unions.
Report: Results of a nationwide survey: Retail investors’ support for the SEC mandating climate-related financial disclosures from public companies
A nationwide survey of retail investors was conducted between March 18 and 29, 2022, by Embold Research on behalf of Americans for Financial Reform Education Fund and Public Citizen. Broadly, these survey results show that investors care about climate-related risks and opportunities of public companies, support the SEC requiring climate-related disclosures with third-party audit, and would factor the information disclosed into their investment practices.
Report: Public Money For Private Equity: Pandemic Relief Went To Companies Backed By Private Equity Titans
This study estimates that at least $5.3 billion in CARES Act money went to 611 portfolio companies owned or backed by private equity firms that held $908 billion in cash reserves.
View or download a PDF of the full report here. Open Gate Capital The Private Equity Stakeholder Project Americans for Financial Reform Education Fund In 2017, OpenGate Capital, a Los Angeles-based private equity firm bought HUFCOR, which manufactures portable room partitions for hotels and
Americans for Financial Reform Education Fund and Public Citizen released the “Climate Roadmap for U.S. Financial Regulation” to guide the new administration to mitigate climate financial risk and decrease the financial sector’s contribution to the climate crisis.
In partnership with The American Federation of Teachers, AFREF released a paper entitled “Lifting the Curtain on Private Equity: A Guide for Institutional Investors and Policymakers.”
New report showing how a handful of billionaire corporate landlords increased their wealth by $24 billion during the pandemic and have raised over $245 billion to tighten their grip on the housing sector. Meanwhile millions of families are under imminent threat of eviction.
New Report: Where the Rubber Meets the Road: How a global tire titan got millions in pandemic small business loans
Case study of a South Carolina tire factory owned by a global corporation that received a substantial loan from the Small Business Administration for pandemic relief while many genuinely small businesses were unable to access the program.
Private equity has had a disastrous impact on the retail industry, driving dozens of firms into bankruptcy, shutting down tens of thousands of stores, and costing hundreds of thousands of jobs nationwide.