Lawmakers target private equity’s growing chokehold on arms industry

Yesterday, Democratic lawmakers introduced legislation that would scrutinize private equity’s growing influence over the defense industry. “For too long we've let private equity treat the defense industrial base like a profit center, buying up critical contractors with little scrutiny over who's really in control,” Rep. Ro Khanna (D-Calif.) said of the Critical Defense Ownership Review Act. Khanna introduced the legislation in the House, and Sens. Elizabeth Warren (D-Mass.) and Richard Blumentha...