• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

The Bezos family just donated $100 million to help achieve one of Mayor Zohran Mamdani’s top campaign promises

2

Despite having a $165 million net worth, Scarlett Johansson says work-life balance doesn’t exist—and the first step to success is admitting that

3

Nearly 50,000 Lake Tahoe residents have to find a new power source after their energy source looks to redirect lines to data centers

1

The Bezos family just donated $100 million to help achieve one of Mayor Zohran Mamdani’s top campaign promises

2

Despite having a $165 million net worth, Scarlett Johansson says work-life balance doesn’t exist—and the first step to success is admitting that

3

Nearly 50,000 Lake Tahoe residents have to find a new power source after their energy source looks to redirect lines to data centers
PoliticsU.S. Politics

Elizabeth Warren Declares War on Private Equity ‘Vampires’ in 2020 Plan

By
Sahil Kapur
Sahil Kapur
and
Bloomberg
Bloomberg
Down Arrow Button Icon
By
Sahil Kapur
Sahil Kapur
and
Bloomberg
Bloomberg
Down Arrow Button Icon
July 18, 2019, 9:38 AM ET

Elizabeth Warren unveiled a policy proposal Thursday to slap new rules on private equity and “useless speculation” on Wall Street while rolling back President Donald Trump’s deregulation of the financial industry.

A centerpiece of her “economic patriotism” plan is to transform private equity firms, which she said often act like “vampires” when they buy companies by “bleeding the company dry and walking away enriched even as the company succumbs.”

The new plan from the former Harvard law professor highlights her unique populist pitch for the Democratic presidential nomination — a promise to meld her understanding of Wall Street and federal regulatory powers to enact new regulations that she argues will force financial firms to better serve consumers and the middle class.

“Wall Street is looting the economy and Washington is helping them do it,” Warren wrote on medium.com. “I am tired of big financial firms looting the economy to pad their own pockets while the rest of the economy suffers. I am done with Washington ignoring the evidence and acting as though boosting Wall Street helps our families.”

If she were the nominee, the 2020 election would pit one of Wall Street’s most outspoken nemeses against a president who cut corporate taxes and deregulated banks in an effort to boost economic growth. Unlike Trump, who blames bad trade deals and permissive immigration for American middle-class problems, Warren lays culpability at the feet of concentrated corporate power.

Warren’s plan would make private-equity firms responsible for debts and retirement pension obligations of companies they purchase, while making their profits contingent on the success of the entities they control.

She said she’d restrict firms’ ability to pay themselves “monitoring fees” and dividends, while limiting their ability to use tax breaks for the debt placed on companies they buy. And she said she’d arm pension funds and other investors with better information about private equity investments.

The Massachusetts senator unveiled legislation toward that end on Thursday, called the “Stop Wall Street Looting Act.” It had numerous Democratic cosponsors, including 2020 rival Kirsten Gillibrand of New York and House Democrats Ayanna Pressley of Massachusetts and and Rashida Tlaib of Michigan.

In her campaign plan, Warren said she’d close the “carried interest” break that provides preferential tax treatment to investment fund managers. Trump campaigned on ending that loophole in 2016 but his tax law largely preserved it.

She added that she’d push to enact the 21st century Glass-Steagall Act to discourage “excessive risk-taking and speculation” and seek to make bonuses for bank executives contingent on successful investments.

Warren said she would also “reverse the Trump-era weakening of rules on capital, liquidity, leverage, and resolution-planning for big banks” via regulatory actions that don’t require the approval of Congress. She called for passing her postal banking plan and Accountable Capitalism Act aimed at discouraging trading for short-term gain.

Warren consistently places in the top four in a crowded Democratic field, having enjoyed a boost in surveys after the first presidential primary debate three weeks ago. Her anti-corporate message carries similarities to that of Bernie Sanders, who waged an unexpectedly strong bid against eventual nominee Hillary Clinton in 2016.

While Sanders brings a disciplined message on the campaign trail to upend the economic system, Warren has sought to differentiate herself with a steady stream of detailed policy blueprints on matters ranging from taxing wealth and corporate profits to providing universal child care and canceling most student debt.

The latest plan follows an earlier “economic patriotism” proposal she released one month ago.

About the Authors
By Sahil Kapur
See full bioRight Arrow Button Icon
By Bloomberg
See full bioRight Arrow Button Icon

Latest in Politics

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Politics

new mexico
North AmericaNew Mexico
New Mexico is raking in oil profits from Iran War, gaining $59 million for every $1 added to the price of a barrel
By Morgan Lee and The Associated PressMay 15, 2026
7 hours ago
boeing
LawBoeing 737 Max
Jury awards $49.5 million to family of 24-year-old who died in Boeing 737 Max crash in 2019
By Rio Yamat and The Associated PressMay 15, 2026
7 hours ago
ratcliffe
PoliticsCuba
CIA director traveled to Cuba and met with Raul Castro’s grandson, officials confirm
By Andrea Rodriguez, Eric Tucker and The Associated PressMay 15, 2026
7 hours ago
leo
EuropeReligion
Pope Leo warns of ‘spiral of annihilation’ as AI warfare leads to symphony of destruction
By Nicole Winfield, Paolo Santalucia and The Associated PressMay 15, 2026
7 hours ago
osborn
PoliticsElections
Democrats are looking for conservative versions of Bernie Sanders in states like Nebraska and Alaska
By Steve Peoples, Mike Catalini and The Associated PressMay 15, 2026
8 hours ago
krishna
Commentaryregulation
The U.S. has 1,200 AI bills and no good test for any of them
By Jeffrey Sonnenfeld, Gary Marcus and Stephen HenriquesMay 15, 2026
13 hours ago

Most Popular

The Bezos family just donated $100 million to help achieve one of Mayor Zohran Mamdani’s top campaign promises
Politics
The Bezos family just donated $100 million to help achieve one of Mayor Zohran Mamdani’s top campaign promises
By Jake AngeloMay 12, 2026
3 days ago
Despite having a $165 million net worth, Scarlett Johansson says work-life balance doesn’t exist—and the first step to success is admitting that
Success
Despite having a $165 million net worth, Scarlett Johansson says work-life balance doesn’t exist—and the first step to success is admitting that
By Preston ForeMay 13, 2026
2 days ago
Nearly 50,000 Lake Tahoe residents have to find a new power source after their energy source looks to redirect lines to data centers
Travel & Leisure
Nearly 50,000 Lake Tahoe residents have to find a new power source after their energy source looks to redirect lines to data centers
By Catherina GioinoMay 12, 2026
3 days ago
Current price of oil as of May 14, 2026
Personal Finance
Current price of oil as of May 14, 2026
By Joseph HostetlerMay 14, 2026
1 day ago
The airplane fuel shortage is a myth propagated by airlines who want to cancel unprofitable flights, says private jet CEO
Energy
The airplane fuel shortage is a myth propagated by airlines who want to cancel unprofitable flights, says private jet CEO
By Jim EdwardsMay 14, 2026
2 days ago
Steve Jobs used a 'beer test' for interviews at Apple—if he didn’t want to drink with you, you didn’t get the job
Success
Steve Jobs used a 'beer test' for interviews at Apple—if he didn’t want to drink with you, you didn’t get the job
By Orianna Rosa RoyleMay 14, 2026
2 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.