Feb. 12, 2022
That a Private Equity firm can legally purchase, a going concern with thousands of employees and a long history of being both profitable and well-respected by its customers, and subsequently sell off the assets, hoover up all available funds, shortchange the mandated pension/401(k) contributions and within one or two years walk away with every bit of cash and leave every other individual and company poorer is a travesty! The technical details are beyond my ken, but it’s clear the SEC’s initial private equity oversight didn’t go far enough, so it’s gratifying to see the agency take this important matter up again with such a detailed and apparently very carefully thought out set of rule changes.