Story
Killing the Watchdogs
Hear the story of Julie Reynolds, who has documented how Alden Global Capital gutted local newspapers across the country, pocketing the cash.
Wall Street private equity is looting our communities!
Overview
Private equity (PE) firms are Wall Street companies that raise money from institutional investors (like pension funds and endowments) and very rich people to buy companies, load them with debt, extract as much as they can for themselves, and dump them. These billionaire factories funnel wealth to executives at the expense of workers, consumers, and patients.
Many people learned about PE abuses through the tanking of ToysRUs and other major retailers, but the problem is even bigger than that. PE has grown from $1 trillion in 2008 to nearly $4.5 trillion today, controlling 11.7 million jobs in the US. Private equity firms have rigged the system to create a “heads I win, tails you lose” situation.
Abuses
These executives can gain control of companies while risking nearly none of their own money, use a multitude of tactics to extract money from those companies, and then leave workers and communities saddled with the losses and devastated if those companies fail or are downsized. In sector after sector, PE firms are responsible for some of the most harmful business practices.
Jobs/Retail
PE firms slash jobs and worker pay/benefits, drive bankruptcies. Learn More
Racial Injustice/Equality
PE firms support abusive prison services and exploit BIPOC workers. Learn More
Healthcare
PE firms close safety net hospitals, gouge consumers, and increase chances of death. Learn More
Housing
PE firms drive up home prices, rents, and evictions. Learn More
Wealth/Income Inequality
PE firms funnel wealth to execs by squeezing essential workers and others. Learn More
Climate/Environment
PE firms own thousands of dirty energy companies propelling the climate crisis. Learn More
The Stop Wall Street Looting Act would close loopholes and change rules that help PE executives grab billions by taking advantage of everyone else.
Story
Manufacturing Trouble
Francine Townsend watched a Wall Street private equity firm and other corporate owners gouge mobile home owners who were just trying to live in peace in the community they built.
$0
TRILLION
in assets held by PE
0
Excess deaths in PE owned nursing homes over 10 years
0
MILLION
US jobs controlled by PE
*As of 2021.
Resources
A growing body of research has documented PE abuses. Explore these resources to learn more.
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.View Link about FACT SHEET: Stop Private Equity from Driving Retailers into Bankruptcy, Destroying Jobs and Livelihoods
FACT SHEET: Close the carried interest loophole that is a tax dodge for super-rich private equity executives
The carried interest tax loophole is an income tax avoidance scheme that allows private equity and hedge fund executives — some of the richest people in the world — to substantially lower the amount they pay in taxes, exacerbating income and wealth inequalities.View Link about FACT SHEET: Close the carried interest loophole that is a tax dodge for super-rich private equity executives
FACT SHEET: Stop Private Equity-Owned Nursing Homes from Extracting Profits at the Expense of Care
Private equity firms have bought up thousands of nursing homes across the country, lowering the quality of care and harming residents.View Link about FACT SHEET: Stop Private Equity-Owned Nursing Homes from Extracting Profits at the Expense of Care