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Private equity is terrified of its reputation, so it’s launching a multimillion-dollar PR blitz to clean up its image. These corporate raiders want access to your retirement savings, the $12 trillion in 401(k)s that ordinary Americans rely on to retire with dignity. The truth is damning. Public opinion about private equity is overwhelmingly negative. People know these firms for what they are: asset-strippers, job-killers, and profiteers who bankrupt hospitals, gut nursing homes, and destroy once-thriving retailers. Now, instead of reforming their predatory business model, they’re trying to rebrand. Apollo and Blue Owl are slapping their names on sports sponsorships. Their lobbyists are producing glossy ads claiming they’ll “strengthen retirement security.” And they’re pouring millions into front groups like the so-called Council for a Safe & Secure Retirement. But here’s the reality, as AFR’s Oscar Valdés-Viera told the Wall Street Journal:
No ad campaign will change the fact that private equity’s record is bankrupt hospitals, shuttered nursing homes, and destroyed jobs. We have to work hard to expose their lies and fight back.
This rebranding is about more than PR, it’s about power. If private equity gets access to ordinary people’s 401(k)s, millions of people will unknowingly finance the very firms that bankrupt their hospitals, jack up their rents, and cut their jobs. It’s legalized looting disguised as “retirement security.” It is never going to be easy, but with your help, we can win this fight. We are organizing coalitions, producing hard-hitting research, and making sure Congress, regulators, and the public know the truth about private equity’s record of destruction. But Wall Street isn’t holding back. They’ve got unlimited money for lobbyists, PR firms, and Super Bowl ads. The only way we beat them is with people power, by exposing the truth louder than they can lie. Together, we can stop private equity from looting our retirement and make sure Wall Street’s lies never go unanswered. Jarice. Jarice Thompson
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