Wednesday, May 18, 2016

Vultures Lurk Over Puerto Rico


The Vultures’ Vultures: How A New Hedge-Fund Strategy Is Corrupting Washington
May 13, 2016
Ryan GrimWashington bureau chief for The Huffington Post
Paul BlumenthalMoney in Politics Reporter, The Huffington Post

"A review of public documents, tax filings and interviews with people involved finds that in each of the three campaigns, hedge funds have enlisted the same set of lobbyists, political operatives, dark money groups and think-tank experts spanning the political spectrum.

No single document or set of disclosures ties all of these groups together. They don’t put out joint press releases, parade themselves around Washington as part of a coalition, or chat together on conference calls. Finding the players in this game, instead, is more a process of deduction. For a group of firms and experts to be working for vulture funds on the issue of Argentine debt is normal Washington practice. (Vulture’s meaning here isn’t pejorative: it refers to an investment strategy that feeds off of assets the market has left for dead.)"

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The Vultures’ Vultures: How A New Hedge-Fund Strategy Is Corrupting Washington