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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. Image
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.
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