Changes

Two of the largest private equity firms are [[Blackstone]] and [[Apollo Global Management]], both of which are prominent in promoting self-serving [[globalism]].  Apollo added [[Opposition to Donald Trump|Anti-Trumper]] [[Pat Toomey]] to its board of directors within two months of his early retirement from the [[U.S. Senate]] at age only about 60, and Blackstone's co-founder Stephen Schwarzman announced his opposition to [[Trump]] for president in 2024.  Funds from Apollo enables the leading bid for the taxpayer-subsidized [[NFL]] team [[Washington Commanders]].

Two of the largest private equity firms are [[Blackstone]] and [[Apollo Global Management]], both of which are prominent in promoting self-serving [[globalism]].  Apollo added [[Opposition to Donald Trump|Anti-Trumper]] [[Pat Toomey]] to its board of directors within two months of his early retirement from the [[U.S. Senate]] at age only about 60, and Blackstone's co-founder Stephen Schwarzman announced his opposition to [[Trump]] for president in 2024.  Funds from Apollo enables the leading bid for the taxpayer-subsidized [[NFL]] team [[Washington Commanders]].

== Criticism ==

== Additional Criticism ==

As explained by a spot-on article in ''[[Mother Jones]]'', private equity is "a $7.3 trillion industry that touches basically everything in your life, and it’s growth has had serious consequences for workers, patients, and consumers."<ref name="M">https://www.motherjones.com/politics/2023/02/toomey-private-equity-carried-interest/</ref>  Private equity exploits a notorious "carried interest" tax loophole, and senators who have prevented its repeal have subsequently joined private equity firms benefiting from it, as [[Opposition to Donald Trump|anti-Trump]] [[Pat Toomey]] did in 2023 after being an "all-star" in protecting the tax dodge against efforts by Trump to repeal it.<ref name="M"/>

As explained by a spot-on article in ''[[Mother Jones]]'', private equity is "a $7.3 trillion industry that touches basically everything in your life, and it’s growth has had serious consequences for workers, patients, and consumers."<ref name="M">https://www.motherjones.com/politics/2023/02/toomey-private-equity-carried-interest/</ref>  Private equity exploits a notorious "carried interest" tax loophole, and senators who have prevented its repeal have subsequently joined private equity firms benefiting from it, as [[Opposition to Donald Trump|anti-Trump]] [[Pat Toomey]] did in 2023 after being an "all-star" in protecting the tax dodge against efforts by Trump to repeal it.<ref name="M"/>