Home Scam/Fraud Wall Street Takes Workers’ Retirement Money and Uses It Against Them

Wall Street Takes Workers’ Retirement Money and Uses It Against Them

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As the private equity industry launches ads to protect its lucrative tax preferences, we should remember that this industry is the unseen man behind the curtain driving many social ills — from high hospital prices to surprise medical bills to nursing home deaths to media layoffs to a housing crisis that has become a human rights emergency. A Businessweek cover put it best: You live in private equity’s world, even if you don’t know it.

But a series of new reports remind us that there is another person behind the monocled, mustache-twirling oligarch running the Emerald City’s secret control panel — and that person isn’t a billionaire. It is the faceless pension official in a…

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