A group of Democrats led by Sen. Elizabeth Warren proposed new restrictions on private-equity firms, saying tougher rules are needed to prevent buyout firms from "looting" the businesses they own in the wake of hospital operator Steward Health Care System's bankruptcy. On Thursday, six senators and eight U.S. representatives announced the Stop Wall Street Looting Act of 2024, an updated version that puts more teeth in a measure Warren, a Massachusetts Democrat, has pushed since 2019.
