Massachusetts Senator Elizabeth Warren thought she would resurrect the Stop Wall Street from Looting Act (SWSLA), again, perhaps hoping it might stick this time. But with no bipartisan support, it is highly unlikely.
Warren has an axe to grind with private equity (PE) firms, investment management companies that provide financial backing to various other companies. PEs invest in startups or mature organizations by supplying additional capital and management services, and in turn, raising their value. The PE firm then sells these companies for a profit. The SWSLA would impose a separate set of tax, regulatory, and legal frameworks on the entire PE industry, giving more control over to Washington bureaucrats.
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