.SenWarren just put forth a giant new proposal she believes will rein in Wall Street recklessness and reinvent corporate America
These kinds of firms have a controversial record of corporate governance, and the 2014 book, which compiled data about private sector employment, found that when private equity firms acquire a company, wages tend to fall, despite the fact that productivity often rises.
Another plank of Thursday's plan calls for the passage of Warren's 21st Century Glass-Steagall Act, which she says will rebuild"the wall between commercial banks and investment banks," a barrier that was gutted after the original Glass-Steagall law was repealed in 1999. Resurrecting Glass-Steagall would require Congress to act, meaning Warren's ability to fulfill this promise would hinge not only on her being elected, but also on the makeup of both chambers of Congress.
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