In many ways, the private equity industry embodies some of the worst impulses of Wall Street, squeezing profits at the expense of workers and consumers, and insulating bad actors from risks. But these abuses are not inevitable. On the contrary, they are the result of laws and regulations that can and should be changed.
Now that Wall Street is reporting earnings for a quarter that took place entirely during the coronavirus pandemic, it is clear that the Federal Reserve has bailed out the bankers quite effectively. Workers, families, small businesses, states, and municipalities have not fared nearly as well.
Trump Administration and Congressional Republicans are using COVID-19 health crisis and economic recession to double down on tax cuts for the top 1 percent.
Private equity firms often profit from mass incarceration and they expand inherently racists business practices in communities of color. Private equity is behind manufacturers of weapons used against people protesting police brutality against the Black community.
As the COVID-19 crisis unfolds we are seeing major shifts in all areas of the economy. In a series of interviews we ask experts what they are seeing from the private equity industry and what they expect moving forward.
Cross-posted from AFR’s Medium page. Can BlackRock Benefit from Inside Information from Fed Facilities? The Fed’s Agreement with BlackRock Raises Questions about Inside Information In order to respond to the ongoing pandemic, the Federal Reserve has created several facilities to purchase financial securities in order to attempt to stabilize the markets. Rather than run all