Private equity plans to run wild under Trump

In the longer term, the effects of this will be among the worst aspects of Trumpism's effects on a lot of lives, including for many that voted for him or didn't vote.

Private equity has a well-deserved reputation as a ruthless industry that specializes in stripping and flipping companies to extract profits for wealthy investors and enrich its own billionaire CEOs. It’s an industry that increasingly dominates our lives. Private equity’s tentacles stretch across nearly every sector, including housing, hospitals, energy, prisons, retail and sports.

With a new corporate-friendly Trump administration, leaders of private equity firms are hoping for tax breaks, weakened regulation and access to trillions in 401(k) savings — all of which could broaden their sector’s reach over our society, increase financial risk for millions, and further supercharge billionaire wealth.

“It’s not only that private equity firms are exploiting the tax code to make themselves billionaires,” Eileen O’Grady, director of programs at Private Equity Stakeholder Project, told Truthout. “They’re also eroding health care, the climate and the quality of jobs across almost every industry.” - Truthout