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Nobel laureate economist Joseph Stiglitz: It's time for Congress to do something about the economic mess that private-equity giants have created

1 month ago   |   By

The private-equity industry has been extracting wealth from the US economy for investors at the expense of the American economy for too long.
The private-equity industry is too secretive, loads takeover targets with too much debt, and pushes companies to lay off too many workers.
Given the problems with private equity, Congress is right to try to crack down on the industry with the new Stop Wall Street Looting Act.
Joseph E. Stiglitz was awarded the Nobel Prize in Economics in 2001. He is a professor at Columbia University, and his most recent book is " People, Power and Profits...
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