The survey found that voters across party lines both disapprove of common approaches of private equity firms in taking over and running existing businesses. They also approve of measures to increase accountability, close loopholes, and protect workers, investors and the viability of target firms.
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.
As candidates vie to set the agenda for the next presidency, Democratic primary voters in Iowa, New Hampshire, Nevada, and South Carolina strongly support a tough approach to oversight and reform of Wall Street, according to a new poll conducted by the bipartisan team of Lake Research Partners and Chesapeake Beach Consulting.
Americans see the need for tough enforcement of existing rules, even after hearing opposing arguments that stress a danger in the role of government. They strongly support the 2010 Dodd-Frank law that Congress passed in response to the financial crisis, as well as additional measures to fight continuing industry abuses.
Kraninger is wildly unqualified to lead the CFPB: Before her confirmation, she had no experience in consumer protection or financial regulation. Civil rights groups and Wall Street watchdogs [AFR letter linked] uniformly opposed her, while the financial industry supported her—perceiving correctly that she would be, at best, a do-nothing director.
Our economy is in crisis. Wall Street billionaires have bought our politicians and engineered our laws to make it easier to buy and pillage major companies, line their own pockets, and escape consequences it has on working people and our communities when the company fails.
“Private equity and hedge funds now wield enormous influence over the American economy, often with terrible consequences for workers and communities,” said Lisa Donner, executive director of Americans for Financial Reform. “We need effective rules of the road to stop predatory practices by these Wall Street giants.”
Briefing on Stop Wall Street Looting Act of 2019 will be at 3pm ET. To join call RSVP to Kyra Sadovi, kyra@ourfinancialsecurity.org and dial (800) 230-1096 and ask for “Private Equity Legislation” conference call.
Over 15 major public interest groups have signed on to support the Stop Wall Street Looting Act of 2019, which was introduced today in the House and Senate.
The Stop Wall Street Looting Act would curb the worst abuses of Wall Street private equity executives by making them liable for damage they cause, protecting the interests of workers, preventing looting of target companies, and improving transparency for investors.