Private equity may soon be coming for your hard-earned retirement plan — thanks in part to President Joe Biden’s failure to stop the industry’s decades-long push to infiltrate retirement savings and the Trump administration’s presumed support of such an incursion.
Private equity, an opaque, high-fee industry dealing in high-risk and world-destroying investments, has long been trying to get its claws on the $11 trillion sitting in Americans’ retirement savings plans. On Monday, the Financial Times reported that the industry is launching a new lobbying effort to do so, with just days left before President Donald Trump takes power.
