Today’s proposal from the Securities and Exchange Commission is a key step in bringing much-needed transparency for investors and accountability in the vast private funds market. The reforms it proposes would give pension funds that invest workers and retiree savings much more information, allowing them to better protect hard-earned dollars.
Sara Myklebust, research director at Bargaining for the Common Good Network, an initiative of labor and community groups, worked with [Patrick] Woodall, [research director at] Americans for Financial Reform, to try to survey units owned by large-scale corporate landlords in major cities across the country in 2019. Myklebust and Woodall were interested in whether they could document the consolidation of the market for single-family rentals, manufactured homes and apartments.
Event: Americans for Financial Reform and Allies Protest Fed Chair Powell Sleepwalking on Climate Chaos, Racial Inequality, and Wall Street greed
Americans for Financial Reform and allies today rallied in front of the Federal Reserve Board of Governors to highlight Fed Chair Jerome Powell’s failure to protect the U.S. economy from major systemic threats like climate change, racial and economic inequality, excessive risk-taking from the big banks, and private equity firms extracting wealth from communities and workers across the nation.
News Release: Sen. Elizabeth Warren and Rep. Mark Pocan Join Town Hall, Build Momentum for Halting Private Equity Abuses of Workers, Communities
At a town hall hosted by United for Respect and Americans for Financial Reform, workers and leaders across industries came out strongly in support of the Stop Wall Street Looting Act. The event focused on the devastating impact of private equity firms on the quality and quantity of jobs across industries.
The Stop Wall Street Looting Act would rewrite the rules that shape the private equity industry, which now has about $7.1 trillion in assets and wealth under its control, so that regulation and market incentives promote productive, sustainable investment, not the wealth extraction that now is all too common.
Many organizations have come out in support of the Stop Wall Street Looting Act, the first comprehensive reform of the predatory private equity industry. This legislation was introduced in Congress today.
A section-by-section of Sen. Warren’s plan to address the predatory elements of the private equity business model that harm workers, investors, and communities.
Fact Sheet: Stop Private Equity from Driving Retailers into Bankruptcy, Destroying Jobs and Livelihoods
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.
Private equity firms have bought up thousands of nursing homes across the country, lowering the quality of care and harming residents.
By creating accountability for the Wall Street tycoons who lead private equity takeovers and reversing the policies that enable wealth extraction, this set of policies can protect workers, families, and communities.