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Re: Only Scythians are allowed to collect scalps.. *LINK*

Former UK ministers and MPs from all UK parties are set to back a bill later on Wednesday outlawing the activities of vulture funds, hedge funds which divert debt relief from the poorest countries into their own pockets.

The bill singles out Donegal International and its boss Michael "Goldfinger" Sheehan who was exposed by Newsnight in 2007 for making a fortune out of Zambia's debt.

Vulture funds have been condemned by governments around the world as perverse and immoral for preying on the world's poor.

Developed countries including Britain and the US have spent billions of pounds trying to relieve the debts of the world's poorest nations so that they can spend that money on health and education.

The vulture fund speculators effectively divert that debt relief to themselves by buying debt for pennies in the pound just as it is about to be written off, and then suing in British or US courts for the full value plus interest.

US outrage

In 2007, Newsnight exposed the activities of Donegal International which bought a tranche of Zambia's debt for $3m and then sued for $55m - the size of Zambia's health budget.

Reporter Greg Palast doorstepped Donegal's boss Michael "Goldfinger" Sheehan who styles himself after the James Bond villain.

The programme caused outrage. Two US congressmen were so moved by the broadcast that they went to see President George W Bush the next day and the-then president immediately promised to take action against the vultures.

After the programme one of Gordon Brown's last acts as chancellor, before he became prime minister, was to ask G8 finance ministers to clamp down on the funds.

But two years on they are still operating on both sides of the Atlantic and according to the Jubilee Debt Campaign they are suing countries in the developing world for billions of dollars.

'Failure to act'

As long ago as 2002, Mr Brown told the United Nations: "We particularly condemn the perversity where vulture funds purchase debt at a reduced price and make a profit from suing the debtor country to recover the full amount owed - a morally outrageous outcome".

But debt campaigners charge that he has done nothing to outlaw the funds activities since becoming prime minister.

Former opponents, such as the Conservative's Peter Lilley and Labour's Gerald Kaufmann, are sponsoring Sally Keeble MP's Ten Minute Bill today.

The sponsors expect the Treasury to incorporate their ideas into new rules which are being prepared to regulate the activities of hedge funds.

A similar "Stop Vultures Bill" is also about to be introduced into the US Congress.

The Developing Country Debt Bill which will be discussed in the House of Commons on Wednesday would only allow the funds to sue for what they had paid for the debt, not the 10 or even 100 times as at present.

It would force the funds to reveal who their investors were and would introduce measures against the corruption which has been alleged in many of the deals.

The Zambian deal with Donegal for instance involved an official in former President Frederick Chiluba's administration who was later found - along with the president - to have stolen £23m from Zambia.

The bill is backed by the overseas aid agencies and by the Jubilee Debt Campaign, whose Director Nick Dearden says it would be "a major step forward in tackling these odious funds. It cannot be right that companies are allowed, in British courts, to make enormous profits out of the suffering of millions of the world's poorest people".

Messages In This Thread

Rothschild & Freshfields founders linked 2 slaver *LINK*
Re: Rothschild & Freshfields founders linked 2 sla
Re: Rothschild & Freshfields founders linked 2 sla
Only Scythians are allowed to collect scalps... *LINK*
For Africans an apology will suffice. *NM*
Re: Only Scythians are allowed to collect scalps.. *NM* *LINK*
Re: Only Scythians are allowed to collect scalps.. *LINK*
Re: Only Scythians are allowed to collect scalps.. *LINK*
Re: Only Scythians are allowed to collect scalps.. *LINK*
Re: Only Scythians are allowed to collect scalps.. *LINK*
Featherless Vultures *LINK*
Re: Featherless Vultures
Re: Only Scythians are allowed to collect scalps.. *LINK*
Re: Only Scythians are allowed to collect scalps.. *LINK*
Re: Only Scythians are allowed to collect scalps.. *LINK*
Re: Only Scythians are allowed to collect scalps..
Re: Only Scythians are allowed to collect scalps.. *LINK*
Re: Only Scythians are allowed to collect scalps.. *LINK*
Re: Only Scythians are allowed to collect scalps.. *LINK*
Re: Only Scythians are allowed to collect scalps.. *LINK*
Re: Only Scythians are allowed to collect scalps.. *LINK*
Re: Only Scythians are allowed to collect scalps.. *LINK*
Re: Only Scythians are allowed to collect scalps.. *LINK*
Re: Only Scythians are allowed to collect scalps.. *LINK*
Re: Only Scythians are allowed to collect scalps.. *LINK*
Re: Only Scythians are allowed to collect scalps.. *LINK*
Re: Only Scythians are allowed to collect scalps.. *LINK*
Re: Only Scythians are allowed to collect scalps.. *LINK*
Re: Only Scythians are allowed to collect scalps..
Re: Only Scythians are allowed to collect scalps..
Re: Only Scythians are allowed to collect scalps.. *LINK*
Re: Only Scythians are allowed to collect scalps.. *LINK*
Re: Only Scythians are allowed to collect scalps.. *LINK*
Re: Only Scythians are allowed to collect scalps.. *LINK*
Re: Only Scythians are allowed to collect scalps.. *LINK*
Re: Only Scythians are allowed to collect scalps.. *LINK*
Re: Only Scythians are allowed to collect scalps..
Re: Only Scythians are allowed to collect scalps.. *NM* *LINK*
Re: Only Scythians are allowed to collect scalps.. *LINK*
Re: Only Scythians are allowed to collect scalps..
Re: Only Scythians are allowed to collect scalps.. *LINK*
Re: Only Scythians are allowed to collect scalps.. *NM* *LINK*
Re: Only Scythians are allowed to collect scalps.. *LINK*
Re: Only Scythians are allowed to collect scalps.. *LINK*
Re: Only Scythians are allowed to collect scalps.. *LINK*
Re: Only Scythians are allowed to collect scalps.. *LINK*
Re: Only Scythians are allowed to collect scalps.. *LINK*
Re: Only Scythians are allowed to collect scalps.. *LINK*
Re: Only Scythians are allowed to collect scalps.. *LINK*
Re: Only Scythians are allowed to collect scalps.. *LINK*
Re: Only Scythians are allowed to collect scalps.. *LINK*
Re: Only Scythians are allowed to collect scalps.. *LINK*
Re: Only Scythians are allowed to collect scalps.. *NM* *LINK*
Re: Only Scythians are allowed to collect scalps.. *LINK*
Re: Only Scythians are allowed to collect scalps.. *LINK*
Re: Only Scythians are allowed to collect scalps.. *LINK*
Re: Only Scythians are allowed to collect scalps..
Re: Only Scythians are allowed to collect scalps..
Re: Only Scythians are allowed to collect scalps..
Iceland emerges without capitulating to bankers *LINK*
Re: Iceland emerges without capitulating to banker *NM* *LINK*
The Prince and his Consort were attacked today
This is COLD *NM* *LINK*
Icelandic measures might be necessary *LINK*
Re: Icelandic measures might be necessary *LINK*
Re: Icelandic measures might be necessary *LINK*
The making of Africa's Housing Crisis *LINK*
Re: The making of Africa's Housing Crisis *NM* *LINK*
Greece isn't all we have to worry about *LINK*
Re: Only Scythians are allowed to collect scalps.. *LINK*
Re: Only Scythians are allowed to collect scalps.. *LINK*
Re: Only Scythians are allowed to collect scalps.. *LINK*
Re: Only Scythians are allowed to collect scalps.. *NM* *LINK*
Re: Only Scythians are allowed to collect scalps.. *LINK*
The "Unforgivable Blackness" of Lebron James.
Re: Only Scythians are allowed to collect scalps.. *LINK*
THE CHOSEN ONE *LINK*
Re: THE CHOSEN ONE *LINK*
Re: Only Scythians are allowed to collect scalps.. *LINK*
Re: Only Scythians are allowed to collect scalps.. *NM* *LINK*
Re: Only Scythians are allowed to collect scalps.. *LINK*
The "Nature" of the Semite. *LINK*
Re: The "Nature" of the Semite. *LINK*
Re: The "Nature" of the Semite. *LINK*
Re: The "Nature" of the Semite. *LINK*
Re: The "Nature" of the Semite. *LINK*
Re: The "Nature" of the Semite. *LINK*
Re: The "Nature" of the Semite. *NM* *LINK*
Re: Rothschild & Freshfields founders linked 2 sla *LINK*
Re: Rothschild & Freshfields founders linked 2 sla
Re: Rothschild & Freshfields founders linked 2 sla *LINK*
Goldman Sachs *LINK*
Re: Goldman Sachs
Re: Goldman Sachs
Re: Goldman Sachs
Cash for Gold...
A.I.G. Credit Default Swaps... *LINK*
If the public wont accept your choice... *LINK*
not sure if this is connected . . . *LINK*
Re: not sure if this is connected . . .
"PAY TO PLAY" at the expense of U.S. citizens *LINK*
Re: not sure if this is connected . . .
Re: not sure if this is connected . . .
Re: not sure if this is connected . . .
Why no punishment for CEO greed *LINK*
Extreme Capitalism *NM* *LINK*
Re: Extreme Capitalism *LINK*
Former V.P. Dick Cheney has heart transplant *LINK*
Where will this "Innovation Explosion"...
gee whiz, kween...
Nothing ventured, nothing gained *LINK*
Re: Nothing ventured, nothing gained *LINK*
No Guitar Superhero! *LINK*
Re: No Guitar Superhero!
Re: No Guitar Superhero!
Re: No Guitar Superhero!
Re: No Guitar Superhero!
Viva Chavez *LINK*
One man's vision; gotta love those Capricorns. *LINK*
Re: One man's vision; gotta love those Capricorns. *LINK*
less glamorous and brilliant *NM* *LINK*
Re: less glamorous and brilliant
Re: less glamorous and brilliant
Re: No Guitar Superhero! *LINK*
Vox Idiotai!
Re: Vox Idiotai!
Re: Vox Idiotai!
The Problem with Socialism...
Re: The Problem with Socialism...
A time to sow... *NM* *LINK*
A Dutch with the name KOCH... *LINK*
Tea Party Financiers Owe Their Fortune to Stalin *LINK*
re: *NM* *LINK*
The "Kochtopus"
Why Obama is a radical? *LINK*
Re: Why Obama is a radical? *LINK*
The Billionaires Bankrolling the Tea Party *LINK*
Reclaiming the Dream and Brand Obama *NM* *LINK*
Re: The Billionaires Bankrolling the Tea Party
Re: The Billionaires Bankrolling the Tea Party *LINK*
Re: The Billionaires Bankrolling the Tea Party *LINK*
Re: The Billionaires Bankrolling the Tea Party *LINK*
Re: The Billionaires Bankrolling the Tea Party
Re: The Billionaires Bankrolling the Tea Party
Re: The Billionaires Bankrolling the Tea Party *NM* *LINK*
Re: The Billionaires Bankrolling the Tea Party *LINK*
Re: The Billionaires Bankrolling the Tea Party
Re: The Billionaires Bankrolling the Tea Party *LINK*
Re: The Billionaires Bankrolling the Tea Party *LINK*
Re: The Billionaires Bankrolling the Tea Party *LINK*
How to change a liability into an asset... *LINK*
Re: How to change a liability into an asset... *LINK*
Re: The Billionaires Bankrolling the Tea Party *LINK*
A tea party message in Patriot Act defeat *LINK*
a DHS response . .. *NM* *LINK*
Re: A tea party message in Patriot Act defeat *LINK*
U.S. Is Set to Sue a Dozen Big Banks *LINK*
Re: U.S. Is Set to Sue a Dozen Big Banks *LINK*
Re: U.S. Is Set to Sue a Dozen Big Banks
Re: U.S. Is Set to Sue a Dozen Big Banks
Re: U.S. Is Set to Sue a Dozen Big Banks
Wall St. shifts away from Obama *NM* *LINK*
Another eye-opening phrase... *NM* *LINK*
Re: The Problem with Socialism...
The Scion vs The Seed
Re: The Scion vs The Seed
Re: The Scion vs The Seed
Re: The Scion vs The Seed
Re: The Scion vs The Seed
We live in an Information Age
Re: We live in an Information Age
Re: We live in an Information Age
Re: We live in an Information Age
Re: We live in an Information Age *NM* *LINK*
Re: We live in an Information Age *LINK*
Re: We live in an Information Age *LINK*
The Empire needs slaves... *LINK*
Re: The Empire needs slaves... *LINK*
Re: The Empire needs slaves... *LINK*
Re: We live in an Information Age *LINK*
more centrism . . . *NM* *LINK*
Re: more centrism . . . *LINK*
Re: more centrism . . . *LINK*
Re: more centrism . . . *LINK*
Re: more centrism . . . *LINK*
Re: more centrism . . .
Re: more centrism . . . *LINK*
Re: more centrism . . . *LINK*
Re: more centrism . . .
Re: more centrism . . . *LINK*
Re: more centrism . . .
The war for drug money? *LINK*
Foundational Change for... *LINK*
Re: Foundational Change for... *LINK*
Re: more centrism . . . *LINK*
Re: more centrism . . . *LINK*
Argentinians Advice to Greeks *LINK*
Re: Argentinians Advice to Greeks *LINK*
Lets see how long Holder stays in office... *LINK*
Re: Lets see how long Holder stays in office... *LINK*
What's the penalty for crimes against the State? *LINK*
Re: What's the penalty for crimes against the Stat *LINK*
Re: What's the penalty for crimes against the Stat *LINK*
Re: What's the penalty for crimes against the Stat *LINK*
Re: What's the penalty for crimes against the Stat *NM* *LINK*
Re: What's the penalty for crimes against the Stat *LINK*
Re: What's the penalty for crimes against the Stat *LINK*
chorus calling for Eric Holder’s resignation *LINK*
Re: more centrism . . . *LINK*
Re: more centrism . . . *LINK*
Re: We live in an Information Age *LINK*
Re: We live in an Information Age
Re: We live in an Information Age
Re: We live in an Information Age *LINK*
What can happen when we use information... *LINK*
Re: The Scion vs The Seed
Re: The Scion vs The Seed
Re: The Scion vs The Seed
Re: The Scion vs The Seed *LINK*
Re: The Scion vs The Seed
Re: The Scion vs The Seed
stem cells vs progenitor cells
please elaborate...
Re: please elaborate...
Re: stem cells vs progenitor cells *LINK*
Re: The Scion vs The Seed
Pirates of the Caribbean
Re: The Scion vs The Seed
Postal Style Healthcare *NM* *LINK*
Update
Re: Update *LINK*
Re: The Scion vs The Seed *LINK*
Re: The Problem with Socialism... *LINK*
Re: The Problem with Socialism... *LINK*
Re: The Problem with Socialism...
Re: The Problem with Socialism... *LINK*
Re: The Problem with Socialism... *LINK*
Re: The Problem with Socialism... *LINK*
Re: The Problem with Socialism...
Re: The Problem with Socialism... *NM* *LINK*
Re: The Problem with Socialism...
Re: The Problem with Socialism... *LINK*
Yuh get nothing, and yuh like it! *NM* *LINK*
Re: Vox Idiotai! *LINK*
Re: Vox Idiotai! *LINK*
Health Care and Radical Monopoly *NM* *LINK*
The Next Wave *LINK*
Warren Buffet: Voice in the Wilderness? *LINK*
Re: Vox Idiotai!
Re: Vox Idiotai! *LINK*
Re: Vox Idiotai!
Re: Vox Idiotai! *NM* *LINK*
Great Observation
Naive but principled.
OPERATION COOPTATION *NM* *LINK*
Re: OPERATION COOPTATION *LINK*
American Idol? *LINK*
Re: American Idol? *LINK*
American made ... Chinese owned *NM* *LINK*
Re: gee whiz, kween... *LINK*
Separate and Equal *LINK*
Re: Separate and Equal *LINK*
History's Lost Black Towns *LINK*
Re: Where will this "Innovation Explosion"... *NM* *LINK*
Re: Where will this "Innovation Explosion"...
Wall Street Sees World Economy Decoupling From U.S *LINK*
Re: Wall Street Sees World Economy Decoupling From *LINK*
Re: Where will this "Innovation Explosion"... *LINK*
Re: Where will this "Innovation Explosion"... *LINK*
Re: Goldman Sachs *LINK*
Goldman Sachs vs Michael Jackson *LINK*
Re: Rothschild & Freshfields founders linked 2 sla *NM* *LINK*


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