Lawmakers target private equity’s growing chokehold on arms industry (opens in new tab)

“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 Blumenthal (D-Conn.) introduced the same bill in the Senate.“This bill restores basic oversight so the Pentagon knows when a private equity firm ...