Elizabeth Warren and Bernie Sanders rip report defending private equity, saying it uses 'sham research'

Elizabeth Warren and Bernie Sanders rip report defending private equity, saying it uses ‘sham research.’

The American Investment Council works with Ernst & Young to put together a report that defends the private equity industry.

Democratic U.S. presidential candidate Elizabeth Warren appears on stage at a First in the West Event at the Bellagio Hotel in Las Vegas, Nevada, November 17, 2019., Sen. Bernie Sanders and seven other lawmakers on Monday ripped a report defending the private equity industry, calling the research underpinning it a "sham."

The report highlighted the firms' role in providing growth equity and skilled managers for companies in need. Companies such ashave successfully grown under private equity's watch before being handed off to the public markets through an IPO. Warren and the lawmakers attacked other numbers in the Ernst & Young report, such as the "$1.1 trillion of value" AIC says was added the U.S. economy and the $174 billion it said the private equity industry paid in taxes.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

CNBC /  🏆 12. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bernie Sanders, Elizabeth Warren call out FedEx, Trump tax cuts after company pays $0Senators Bernie Sanders and Elizabeth Warren both blasted FedEx and President Donald Trump's 'corporate elite' tax cuts for allowing the courier giant to avoid paying any federal taxes.
Read more »

Elizabeth Warren and Bernie Sanders rip report defending private equity for using 'sham research'The report, released in October, aims to paint a different picture of the private equity industry than the one put forward by populist politicians like Elizabeth Warren and Bernie Sanders.
Read more »

Billionaire Demands Elizabeth Warren Show Some Respect for His Net Worth“She’s disgraceful. She doesn’t know who the fuck she’s tweeting.”
Read more »

Elizabeth Warren weighs in on Taylor Swift's rift with her former record companyIn an unlikely turn of events, support for the 'Lover' artist came from a surprising source: Democratic presidential candidate Elizabeth Warren, who backed the singer in a Twitter post on Saturday.
Read more »

Elizabeth Warren and AOC #StandWithTaylorThe two politicians bring up the bigger issue at hand.
Read more »