| Battle Over Vulture Funds |
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Big Noise teams up again with investigative journalist Greg Palast to follow up on a report they made on Vulture Funds. 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 practice possible. Available on Dispatches Vol.2 Big Noise teams up again with investigative journalist Greg Palast to follow up on a report they made on Vulture Funds. 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 practice possible. Available on Dispatches Vol.2 Watch Video
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