First Our Homes, Now Our Water?

Food & Water Watch Analysis Reveals Wall Street’s Hold on Municipal Water Systems

WASHINGTON - August 22 - Following its disastrous foray into the housing market, Wall Street’s latest earnings scheme is as close as your kitchen sink: the finance industry is increasingly targeting public water systems. A new report released today by the national consumer advocacy group Food & Water Watch, Private Equity, Public Inequity: The Public Cost of Private Equity Takeovers of U.S. Water Infrastructure reveals that as of January 2012, private equity players had raised $186 billion through 276 infrastructure funds and were seeking another $93 billion to take over infrastructure worldwide.

“Like Wall Street’s manipulation of the housing market in the previous decade, private equity firms and investment bankers are increasingly looking to cash in on one of our most essential resources—water,” said Food & Water Watch Executive Director Wenonah Hauter. “These deals are ultimately a bum deal for consumers, who will end up paying the price through increased water bills and degraded service.”