Discover and read the best of Twitter Threads about #StopWallStreetLooting
Most recents (9)
Private equity firms have gutted companies & killed jobs long before COVID-19. Now I’m concerned they’re exploiting the public health & economic crises to line the pockets of wealthy firms at the expense of our communities. #StopWallStreetLooting cnbc.com/2020/06/25/eli…
The private equity industry's playbook – buying up companies, bleeding them dry, & cutting jobs – is especially troubling right now for their nursing homes & health care staff. These firms care more about lobbying for bailouts than supporting their communities & workers.
This crisis has left private equity firms drooling over struggling companies they can gobble up. Congress should pass my #StopWallStreetLooting Act to fundamentally reform private equity & my bill with @RepAOC to stop predatory mergers & acquisitions during the COVID-19 pandemic.
Private equity firm @blackstone has made big investments in companies that are destroying the Amazon rainforest. @repmarkpocan, @RepRaulGrijalva, @RepDebHaaland, @RepRashida, @RepChuyGarcia, @SenWhitehouse & I want them to explain their business practices. politico.com/news/2019/12/1…
It is deeply disturbing that a US private equity firm like @blackstone has invested in Brazilian logistics company Hidrovias to take advantage of weakened environmental safeguards & boost their short-term profits at the expense of our global climate & Indigenous communities.
My #StopWallStreetLooting Act with @repmarkpocan & others would hold private equity firms responsible for the liabilities of companies under their control & require greater transparency in private equity firms’ practices. Our economy – and our planet – can’t wait any longer.
Private equity firms have made big investments in big for-profit nursing home chains. @SenSherrodBrown, @RepMarkPocan & I are investigating their role in the declining quality of nursing home care. #StopWallStreetLooting washingtonpost.com/business/econo…
For-profit nursing home chains owned by private equity firms have more health & safety problems that put residents at risk. And the complicated ownership structure makes it hard for families to hold these homes legally liable for bad care. #StopWallStreetLooting
I’m concerned about private equity firms' investment in industries like nursing homes that care for seniors & people with disabilities & rely on government Medicaid & Medicare funding. That’s why I’ve got a bill to #StopWallStreetLooting & hold private equity firms accountable.
Tune in now to the @FSCDems' hearing, "America for Sale? An Examination of the Practices of Private Funds."
WATCH📺:
We'll be live-tweeting the hearing in the thread below 👇
WATCH📺:
We'll be live-tweeting the hearing in the thread below 👇
@FSCDems @EileenAppelbaum of @ceprdc:
“Toys R Us failed, its stores were shuttered, and 33,000 workers lost their jobs. It is this reckless loading of debt that the #StopWallStLooting Act would end.”
“Toys R Us failed, its stores were shuttered, and 33,000 workers lost their jobs. It is this reckless loading of debt that the #StopWallStLooting Act would end.”
@FSCDems @EileenAppelbaum @ceprdc Wayne Moore: “Public pension funds will pay up to $45 billion in fees and expenses to the industry this year, a massive transfer of wealth from workers to Wall Street”
"While just 10% of our portfolio, #PrivateEquity makes up half of our investment costs"
"While just 10% of our portfolio, #PrivateEquity makes up half of our investment costs"
Private equity will do anything to kill my #StopWallStreetLooting Act – even funding a sham study by Ernst & Young to defend the industry. @repmarkpocan, @RepJayapal, @SenatorBaldwin, @SenSanders, & I want EY to explain their report's glaring flaws. cnbc.com/2019/11/18/eli…
Ernst & Young’s industry-funded report paints a dishonest picture about private equity's effect on our economy. For example, when EY calculated private equity-owned companies’ avg wages, they included their Wall Street investors’ fat paychecks to skew the numbers. 
Here’s the bottom line: private equity firms are putting millions of workers at risk by loading up companies with debt, stripping assets, & collecting huge fees. If the bets go bad, they walk away. I’ll keep fighting to #StopWallStreetLooting & hold private equity accountable.
Nobody having a heart attack or stroke picks their ambulance or ER doc. But when a hospital outsources its physician staffing or ambulance services to a private-equity-owned company, patients can get stuck with outrageous medical bills. It's obscene. washingtonpost.com/opinions/2019/…
Almost 2/3 of US hospitals outsource physician staffing, many to companies owned by private equity firms. @repmarkpocan, @RepLloydDoggett & I want to know more about the role those firms play in the sharp rise in surprise out-of-network medical bills.
My bill to #StopWallStreetLooting would hold private equity firms responsible for their companies – including in the health industry. And Congress should pass #MedicareForAll so nobody goes broke paying a medical bill that pads the pockets of insurance execs & Wall St bankers.
Our criminal justice system lets private equity firms rake in billions at the expense of incarcerated people, detainees, their families, & taxpayers. @repmarkpocan, @RepAOC & I are investigating private equity firms profiteering off prison services. axios.com/elizabeth-warr…
Private equity’s push into private prisons, detention centers, & prison services companies has helped create monopolies that squeeze families. Think about it: when there’s no competition for prison phone services, a 15-minute call home can cost $25.
Privatization & consolidation of prison food services means that private equity firms can make big bucks serving food with mold & maggots – & when incarcerated people decide to buy their own food, private equity profits off the commissaries. It’s all a racket.
Nine years ago today, I ran out of the Senate – where I was a witness testifying about the TARP Wall St bailout – and raced to the @WhiteHouse. With seconds to spare, I got to see President @BarackObama sign Dodd-Frank, the Wall Street reform bill that gave us the @CFPB.
Exactly 8 years ago, we opened the doors at the @CFPB. Eight years since we built an agency to get the tricks & traps out of the fine print of credit cards, mortgages, & other financial products. And in 8 years, it’s returned billions of dollars to people who have been cheated.
The big banks have fought financial reform – especially the @CFPB – every step of the way. So from my first Senate banking committee hearing in 2013, I’ve pushed our banking regulators to hold Wall St accountable for cheating people & breaking our economy.
Private equity firms want you to believe you’re not smart enough to understand their business model. But it's pretty simple: take over companies & loot 'em.
And I’ve got a bill with @SenatorBaldwin, @SenSherrodBrown, @RepMarkPocan & @RepJayapal to fix it. #StopWallStreetLooting
And I’ve got a bill with @SenatorBaldwin, @SenSherrodBrown, @RepMarkPocan & @RepJayapal to fix it. #StopWallStreetLooting
@SenatorBaldwin @SenSherrodBrown @repmarkpocan @RepJayapal When I was a kid, my mom’s job at Sears saved our family. But that Sears doesn’t exist today. Neither does Payless, Shopko, or Gymboree.
That’s because private equity & investment funds bought them, stripped them for parts, & drove them into the ground. #StopWallStreetLooting
That’s because private equity & investment funds bought them, stripped them for parts, & drove them into the ground. #StopWallStreetLooting
It’s not just stores at the mall that suffer from Wall Street looting. Private equity has ruined newspapers, manufactured housing, grocery stores, & even nursing homes in MA & across the country. washingtonpost.com/business/econo…
