-------- Original Message --------
Subject: Palast Hunts the Real Life Goldfinger for BBC - watch it on
Democracy Now!
Date: Thu, 15 Feb 2007 20:37:45 -0500
From: Greg Palast <[EMAIL PROTECTED]>
Reply-To: Greg Palast <[EMAIL PROTECTED]>
To: [EMAIL PROTECTED]
Palast Hunts the Real Life Goldfinger for BBC - watch it on
Democracy Now!
*"Vulture Fund” Company Wins $20 Million Payment from Zambia on $4
Million Debt*
/Thursday, February 15th, 2007 /
Watch the BBC Newsnight investigative report at the BBC Newsnight
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website -- or at Democracy Now!
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with Palast and Amy Goodman.
Listen
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-- Watch
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-- Read
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“Vulture fund” companies buy up the debt of poor countries at cheap
prices, and then demand payments much higher than the original amount of
the debt, often taking poor countries to court when they cannot afford
to repay.
Investigative journalist Greg Palast reports on one company that has won
the right to collect $20 million from the government of Zambia after
buying its debt for $4 million. In his recent State of the Union
address, President Bush declared the United States was taking on the
challenges of global hunger, poverty and disease, and urged support for
debt relief, which he called the best hope for eliminating poverty.
But what exactly are wealthy nations doing to reduce the debt of
impoverished countries?
Today we take a close look at companies known as "vulture funds."
Vulture fund companies buy up the debt of poor countries at cheap
prices, and then demand payments much higher than the original amount of
the debt, often taking poor countries to court when they cannot afford
to repay.
For an in-depth look at this issue, we turn to a BBC Newsnight
documentary by investigative reporter Greg Palast. Greg Palast’s BBC
report on vulture funds. Today a high court judge in London ruled on the
case that a vulture fund can extract more than $20 million from Zambia
for a debt which it bought for just $4 million. To tell us more about
this case and more we now turn to Greg Palast.
****************
Greg Palast. Investigative reporter for the BBC on this story is author
of the books “Armed Madhouse
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“The Best Democracy Money Can Buy”
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and “Democracy and Regulation.” www.GregPalast.com
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*/The BBC Newsnight report was produced by Meirion Jones, BBC London;
Rick Rowley, videographer/editor. Investigative research by Matt
Pascarella, New York./*
*/**********/*
You can comment
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