So they take $400 million out while they are laying off people, shortchanging you on supplies.

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

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.

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.

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.

teachers and firefighters are being asked to take money out of their retirements to pad the pockets of private equity billionaires, and they are not even getting the above-average market returns that they thought that they were paying for.

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.

Everything they did was to profit them and to hurt the people, and they did not care.

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

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.

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

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

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

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

It's time to fact-check those claims.

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

One death is one death too many.

Private equity does not belong in health care.

I lost my brother early in the pandemic, and he had no one with him except the nurses who showed up to hold his hand.

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.

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.

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

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

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.

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