Elizabeth Warren

I have proposed a 2 cent wealth tax. This is 2 cents on assets above $50 million. It is time for a wealth tax in America.

It is time to break up Facebook.

Nobody should be surprised that the private equity industry is forcing residents to make this choice.

Hometown implemented a policy that specifically put the burden of these repairs on the residents.

Manufactured or quote/unquote 'mobile homes' are a critical avenue to affordable housing for millions of Americans.

The private equity industry has done to communities across this country.

I very much appreciate your mentioning my Stop Wall Street Looting Act, because it would fundamentally reform the private equity industry and end its most predatory practices.

This is an important hearing for us to have.

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

Private equity relies on a business model that pays managers to go after short-term profits, charging huge fees even as they destroy the long-term prospects of the businesses they buy.

It's bad for communities when private equity firms buy up thousands of manufactured homes or the land they sit on.

This is wrong. Our tax system should not be creating incentives for bad business practices, and private equity firms should not be able to extract huge dividends while failing to fund employee pensions.

The Stop Wall Street Looting Act will finally close regulatory loopholes and change the rules that have only served the billionaire class while wreaking havoc in our communities.

I'm asking you, Senators, to summon the same courage we found to stand up to these Wall Street executives and corporate billionaires, because essential workers can no longer be treated as collateral damage.

It's long past time to reform this industry and end their most destructive practices.

It's time to fact-check those claims.

It's bad for workers and consumers when local retailers or even large chains are bought out by private equity firms.

It's bad for students when private equity firms buy up for-profit colleges.

I do not want to eliminate private equity, but I do want to fix it, and that is why I have introduced the Stop Wall Street Looting Act.

In 2019, I opened a broad investigation of the role of private equity in the economy, and this investigation exposed how the industry is fundamentally broken.

It is bad for workers and bad for consumers when local retailers, or even large chains, are bought out by private equity.

I appreciate the academic perspective that is going on, and I very much appreciate the Treasurer joining us and telling us what it is like as an investor.

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.

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

If private equity has skin in the game, maybe they will think twice about their actions.