Sign on to support Elizabeth’s Stop Wall Street Looting Act. Here are a few big pieces of what it would look accomplish:
Fundamentally reform the private equity industry by closing the legal, tax, and regulatory loopholes that allow private equity firms to capture all the rewards of their investments while insulating themselves from risk.
Require private investment firms, the firm’s general partners, and their insiders to share responsibility for the liabilities of companies under their control — including debt, legal judgments and pension-related obligations — to better align the incentives of private equity firms and the companies they own.
Ban dividends to investors and the outsourcing of jobs for two years after a firm is acquired — ending the extraction of resources from acquired companies.
Prevent private equity firms from walking away when a company fails and protect workers by improving rules so workers are more likely to receive severance and pensions in a bankruptcy.
Require private equity managers to disclose fees, returns, and other information about their funds so that investors can monitor their investments and shop around.
Reinstate Dodd-Frank provisions that require regulators to address risky leverage.
Big private equity firms have fat profits on the line here, so they’ll do everything they can to block our reforms. That means we can win only if we link arms, raise our voices together, and fight from the heart.
Add your name here to say you support Elizabeth’s Stop Wall Street Looting Act, and we’ll tackle the private equity industry’s abuses side by side.