Aug. 17, 2022
I strongly support SEC Chair Gensler’s attempts to structure private equity or LBOs in order to make them truly fiscally responsible. As it is, private equity is a blank check that you now must sign because it’s a virus that has overtaken our economic system. If your friend treated you the way private equity operates, you’d leave that friend in a heartbeat because you’d realize he was no friend to anyone but himself. Chairman Gensler isn’t just acting responsibly, he’s ultimately supporting the best interest of all business and pension funds as well as that of everyday citizens in front of these groups and individuals for whom infinite amounts of profit are simply not enough. As it exists, this system will kill our Republic faster and easier than any enemy weapon. To paraphrase the needs of a famous non-Paul Allen Vulcan… In this case the greeds of the few not only are outweighing the needs of the many – but also outweighing the ultimate survival of the system as a whole. This is not capitalism. This is raw greed. Sandra Eisert Redmond, WA