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Friday, October 12, 2007

Rudy Giuliani campaign funded by vulture funds,


Rudy Giuliani, the Republican front-runner in the presidential race, is receiving policy advice and money from a billionaire investor in “vulture funds”, the activities of which have been condemned as “nothing short of scandalous” by Gordon Brown.
In an early sign of the attacks that will be made against the former New York Mayor if he wins the 2008 Republican presidential nomination, Democrats are highlighting the role being played in his campaign by Paul Singer, the chairman and founder of Elliott Associates - which is worth around $8 billion.
The Democratic National Committee is citing reports describing Mr Singer’s firm as operating the world’s biggest “vulture funds”, so-called because they feed on weakened economies, including those of developing countries.
Mr Brown, shortly before becoming Prime Minister this year, urged rich nations including the US to stop such funds undermining his own efforts to eradicate Third World debt.

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