Wall Street Takes Workers’ Retirement Money and Uses It Against Them

 Wall Street Takes Workers’ Retirement Money and Uses It Against Them

As the private equity industry launches ads to protect its lucrative tax preferences, we should remember that this industry is the unseen man behind the curtain driving many social ills — from high hospital prices to surprise medical bills to nursing home deaths to media layoffs to a housing crisis that has become a human rights emergency. A Businessweek cover put it best: You live in private equity’s world, even if you don’t know it.

But a series of new reports remind us that there is another person behind the monocled, mustache-twirling oligarch running the Emerald City’s secret control panel — and that person isn’t a billionaire. It is the faceless pension official in a…

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