Hedge Funds & Private Equity: Transferring Wealth Upwards



Eileen Applebaum’s Powerpoint Presentation

Vic Fleischer’s Powerpoint Presentation


November 17th, 2:30pm – 5:00pm | Capitol Hill, SVC 209-08

Sponsored by AFL-CIO, Americans for Financial Reform, American Federation of Teachers, The Center for Economic and Policy Research

Do private funds drive positive change and improve efficiency? Or do they drive short-termism, job losses and systemic risk in our markets? Regulators have only just begun to shine a light on these funds, revealing a host of problems and raising many more questions about their operations. Recent reports from the SEC point to rampant abuse in the industry, from charging excessive fees to generating revenue through creative accounting techniques rather than long term value creation. These new findings demonstrate a pattern of transferring wealth up, from working people to the country’s richest financial managers.


2:30 Welcome and Opening Remarks

  • Lisa Donner, Executive Director, Americans for Financial Reform

2:35 Senator Tammy Baldwin

2:45 Panel Discussion

  • Heather Slavkin Corzo, Director, Office of Investment, AFLCIO moderator
  • Eileen Appelbaum, Senior Economist, Center for Economic and Policy Research
  • Victor Fleischer, Professor of Law, University of San Diego 
  • David Wood, Director, Initiative for Responsible Investment at the Kennedy School at Harvard 
  • Eric LeCompte, Executive Director, Jubilee USA Network

4:20 Representative Nydia Velazquez

4:30 Senator Al Franken