More than $150 billion a year is lost by these top earners. And that is exactly why Congress is considering a simple new third-party reporting requirement.

I don't want to eliminate private equity. But I do want to fix it.

My Stop Wall Street Looting Act would require private equity funds to clearly disclose their fees and returns.

Private equity executives make off with massive short-term gains and they leave workers, consumers, communities, and ordinary investors with pretty much nothing to show for it.

private equity has worked out a business model that helps them get rich at the expense of workers

I would also like to submit a statement for the record from my friend, Senator Baldwin, who has been a fighter for the workers and the communities of Wisconsin.

This is a standard play out of the private equity book.

America faces a retirement crisis, but the solution is not to squeeze employees more or to cut retail jobs and wages.

It is also bad for seniors and their families when private equity firms buy up nursing homes and other health care providers.

This is why I have introduced the Stop Wall Street Looting Act.

So this private equity company takes over this successful, profitable, I think you said 58-year-old company, saying they were going to make it more profitable.