Private equity and other private funds control growing portions of the economy, including in areas crucial to all of our lives, like housing and care–typically increasing prices and decreasing quality. These billionaire factories repeatedly take advantage of loopholes and exemptions to funnel money to their executives at the expense of workers, patients, consumers, real economy businesses, and a sustainable planet. We can change the rules to stop their extremes of extraction.
Advocacy
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AFR In the News
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Blog: AFREF Hosts Event Showing Dangers of Private Equity Entering 401(k)s
The Dangers of Private Equity Entering 401(k)s By Andrew Cullen For a long time, retirement accounts like 401(k)s have served as a way for workers to invest and grow wealth for the future. However, Trump recently issued an executive order that will allow risky private equity investments, like private equity and cryptocurrency, into these plans.
AFR In the News
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WSJ: Private Equity Ramps Up PR, Branding Efforts for 401(k) Push
“I think that private equity is seen right now as one of the worst actors on Wall Street,” Valdes-Viera said. “At this point, it’s going to take a lot to rebrand them and portray them as a good steward of retirement savings.”
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NBC News: Mother with cerebral palsy struggles to hire aides after private equity takeover
“The private equity industry is looking for any streams of steady public funding,” Sen said in an interview. “As advocates have secured more funding for home and community-based services, that has resulted in the private equity encroachment.”
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Common Dreams: ‘Disaster in the Making’: Trump to Open 401(k)s to Crypto, Private Equity Vultures
Lisa Donner, co-executive director at Americans for Financial Reform Education Fund, said that “private equity executives have enriched themselves by the billions, taking high fees and other charges from working people’s hard-earned retirement savings in pension funds.” “Now they want fees from the trillions of dollars in individual retirement accounts,” Donner added, “putting millions of…
