Vulture fund threat to third world
Meirion Jones BBC Newsnight
On Thursday 15 February a high court judge in London will rule whether a vulture fund can extract more than $40m from Zambia for a debt which it bought for less than $4m.
On Thursday 15 February a high court judge in London will rule whether a vulture fund can extract more than $40m from Zambia for a debt which it bought for less than $4m.
Paul Singer has more direct political connections. He was the biggest donor to George Bush and the Republican cause in New York City - giving $1.7m since Bush started his first presidential campaign.
how Corporations Continue to Rape The Worlds Poor
Vulture funds - as defined by the International Monetary Fund and Gordon Brown amongst others - are companies which buy up the debt of poor nations cheaply when it is about to be written off and then sue for the full value of the debt plus interest - which might be ten times what they paid for it.
Broadcast 02/14/07 BBC - Newsnight - Video Runtime 15 Minutes
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posted by Kangaroo Brisbane Australia at 2:56 PM
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