Tag Archives: Stop Wall Street Looting Act

IN THE NEWS: Warren Toughens Private-Equity Bill, Aiming to Prevent Healthcare Abuses

It also has the support of labor and financial-policy groups, including the AFL-CIO, the American Federation of Teachers and National Nurses United. Lisa Donner, executive director of financial watchdog group Americans for Financial Reform, said the bill “takes important, much-needed steps to rein in Wall Street predatory practices and promote a more just and sustainable economy.”

A Wall Street street sign

Event: Stop Wall Street Looting Act Townhall

Ricardo Valadez from Americans for Financial Reform and Jessica Newman from United for Respect co-hosted a Stop Wall Street Looting Act townhall that featured speakers from Center for Popular Democracy, CASA Montgomery County, United Mine Workers of America, Communications Workers of America, and videos of Senator Warren and Representative Mark Pocan.

In The News: It’s Time for Congress to Do Something About the Economic Mess that Private Equity Giants Have Created (Business Insider)

Nobel laureate economist Joseph Stiglitz: “[A] recent study by groups including Americans for Financial Reform found that private-equity bankruptcies in the retail industry alone cost 600,000 jobs. One of those laid off, Giovanna De La Rosa, told of her experiences in this publication. The best outcome would be fewer bankruptcies, but when they happen, the welfare of workers needs to be at the top of the list, not at the bottom.”

Letter to Congress: Broad Coalition Supports the Stop Wall Street Looting Act

Today, private equity and hedge fund managers take advantage of gaps in regulations to make billions of dollars by looting real-world businesses and engaging in abusive practices without any accountability. They also pay taxes at a lower rate than teachers and firefighters. The undersigned organizations support the Stop Wall Street Looting Act (S.2155 / HR 3848 ). This legislation would eliminate tax, securities and bankruptcy law carve-outs that allow these Wall Street titans to make billions at the expense of workers, communities and pensions.

AFR Polling Memo: New Survey Shows Bipartisan Skepticism of Private Equity Tactics, Support for Reform

Voters support continued reform of Wall Street, and that conviction extends to the private equity industry, according to a new poll by Lake Research Partners and Chesapeake Beach Consulting. Majorities of Democrats, independents, and Republicans, oppose the predatory tactics of private equity industry, and support legislative proposals aimed at correcting its abuses.