QUORUMCALL//GPT:
Senator Elizabeth Warren, along with other lawmakers, is renewing her fight against what she perceives as private equity firms’ harmful practices.
CHALLENGING THE STATUS QUO
• Warren and co-sponsors Bernie Sanders, Tammy Baldwin and Pramila Jayapal reintroduced the Stop Wall Street Looting Act. The bill aims to make private equity firms responsible for the liabilities of companies they buy, including unpaid severance.
IMPACT ON WORKERS
• The bill was first put forward in 2019 following the collapse of Toys R Us which had been purchased by a private equity firm. The collapse led to the loss of tens of thousands of jobs.
TOPICS COVERED
#PrivateEquity #StopWallStreetLootingAct
NOTE
The article is a press release from Senator Elizabeth Warren’s official website. The content should be read as coming directly from the senator and her team.