Continuing to battle Wall Street as she bolsters her run for president, Sen. Elizabeth Warren (D-Mass.) wants to escalate scrutiny on private equity firms.
Under newly filed legislation, The Stop Wall Street Looting Act, firms would share responsibility for the liabilities of companies under their control, including debt, legal judgments, and pension obligations to “better align the incentives of private equity firms and the companies they own.” The bill, if enacted, would end the tax subsidy for excessive leverage and closes the carried interest loophole.
