Battle Over 'Vulture Funds'
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I recently researched and produced a story with investigative journalist Greg Palast to follow up on a report we made on Vulture Funds for BBC back in February. These vultures are speculators who buy up the debt of the poorest nations on the planet for pennies on the dollar — then use legal extortion or less-than-legal bribery to extract payments from these nations - payments equal to five, ten or twenty times what the vultures “invested.”
I recently researched and produced a story with investigative journalist Greg Palast to follow up on a report we made on Vulture Funds for BBC back in February. These vultures are speculators who buy up the debt of the poorest nations on the planet for pennies on the dollar — then use legal extortion or less-than-legal bribery to extract payments from these nations - payments equal to five, ten or twenty times what the vultures “invested.”
The initial report , that aired on BBC Newsnight and Democracy Now, created an international outcry that reached the White House and 10 Downing Street, and that threatens to close the legal loopholes that make this unscrupulous proactice possible.
posted by mattpascarella at 10:07 AM
