Even by the standards of the financial sector, private equity—the $7 trillion industry that laid waste to Toys “R” Us, Radioshack, Fairway, and Payless—has a uniquely bad image problem. A majority of Americans believe the industry is ripe for a regulatory crackdown. And in Congress, that sentiment is, to no great surprise, widely shared amongst progressive lawmakers, including Senator Elizabeth Warren, who recently re-introduced sweeping legislation to rein the industry in. But apart from the political roadblocks sure to bedevil Warren’s bill, she and her colleagues face the even greater challenge of regulating an industry that, by design, remains extremely opaque. In his new book Two and T
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