After #PirateEquity🏴☠️ firm Francisco Partners bought technology company Sandvine, they fired staff, replaced leadership and started dealing with surveillance states & dictatorships
Between 2018-20, Sandvine raked in $100M from countries with horrible human rights track records
Last year, Belarus used technology provided by Sandvine to shut down the news websites, block social media platforms, and ban messaging apps while torturing protestors nationwide.
Sandvine asked for the product back too late — the damage had been done.
.@jon_penney: “A lot of the abuses we've seen involving these technologies would not have been possible without the support of capital-rich & resource-rich #PrivateEquity firms like Francisco."
There's a gap in legal accountability and no financial incentive to change business.
#PrivateEquity-owned surveillance technology companies put millions of people’s lives at risk.
#PirateEquity...
🏴☠️ Prioritizes financial gains over ethics
🏴☠️ Has no incentive to invest in security
🏴☠️ Holds little accountability if things go wrong
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"Cancelling student loan debt is the single most effective executive action that @POTUS can take to kick start this economy, help close the racial wealth gap, and lift the economic prospects of tens of millions" --@SenWarren#CancelStudentDebt
"Our resolution has over 50 co-sponsors in the House. We are joined by over 325 grassroots groups. The momentum is building, the coalition is growing. With the stroke of a pen, @POTUS can provide relief to tens of millions of families." -- @RepPressley#CancelStudentDebt
"Student debt prevents Americans from building & creating wealth, contributing to the wealth gap. This is felt most acutely by Black & Brown Americans who have historically been denied by their country the privilege of financial freedom" --@RepAdams#CancelStudentDebt
Under @BankersPrez Rob Nichols, American Bankers Assn gave $1.3 million to the 147 Republicans who voted to overturn a fair election after a violent assault on the U.S. Capitol
OVERSIGHT HEARING ON STATE MUNICIPAL LENDING: Why is the Fed offering so little support for state and municipal governments? Let's find out in this THREAD:
@federalreserve's Kent Hiteshew continuing to evade arguments in favor of greater support for state and municipal lending ... The Fed has used 0.3% of its $500 billion facility while pumping money into corporate markets
@BharatRamamurti points out, the Fed is giving “no strings attached support to some of America’s biggest corporations” while the municipal and state governments face tough conditions, ones that hurt first responders crucial to #COVID19 response
The @federalreserve has done a damn good job of bailing out the investor class on #WallStreet during the #COVID19 pandemic: big banks, big investors, and big corporations are all doing great. And the evidence is in the data THREAD 1/8
The Fed is buying corporate bonds and it is paying ABOVE PAR for those securities. In fact in the latest data dump (today), it’s buying on average bonds at a price of 107, or 7% more than they are actually worth at face value 2/8 federalreserve.gov/reports-to-con…
For some perspective, imagine that you took out a loan for $100,000 and the creditor handed you $107,000 and said, “Hey, keep it, I have plenty.” That’s how well corporate America and its bankers are doing thanks to the Fed. 3/8
Private equity firms make tremendous profits investing in business practices and industries that reinforce systemic racism. Thread: medium.com/@RealBankRefor…
Private equity investors invest in for-profit private prisons and detention centers, prison phone calls, and electronic monitoring of ex-offenders re-entering the community. pestakeholder.org/issue/civil-ri…
Private equity firms also profit from the xenophobic immigration policies of the Trump Admin, including the policy of violently separating migrant children from their parents. @MRVAssociatesbit.ly/2Uza0n6