Senator Warren Urges Feinberg to ‘Completely Cut’ Cerberus Ties

Democratic Senator Elizabeth Warren is calling on billionaire Stephen Feinberg to take additional steps to prevent conflicts of interest in his role as deputy defense secretary.

Feinberg is a co-founder and former co-chief executive officer of Cerberus Capital Management, a $65 billion private equity firm that owns several companies that contract with the Pentagon. To comply with federal ethics rules, he divested his stakes in his businesses after taking office. But his published ethics filings show he reserved the right to transfer those assets to trusts for his adult children, and Cerberus continues to provide him with administrative services. ...