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Article: Furious MPs accuse private equity chiefs of 'behaving like ostriches' ; BUSINESS
- Article from:
- The Independent (London, England)
- Article date:
- June 13, 2007
- Author:
CopyrightCopyright 2007 The Independent - London. Provided by ProQuest LLC. (Hide copyright information)
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Britain's private equity industry was savaged by the Treasury
Select Committee yesterday as MPs accused its leading trade body of
failing to answer questions properly, submitting "bland" evidence
and "behaving like ostriches".
And after an ill-tempered session, the debate spilled out into
the corridor, with the senior Labour committee member Angela Eagle
holding a heated argument with the Tory Brooks Newmark, who used to
work in private equity and is an adviser to the shadow Chancellor,
George Osborne, before renewing her attack on the industry.
Ms Eagle insisted that she was not opposed to all private equity
but accused the industry of "being in denial" about the
controversies surrounding ...