REPORT NO. 56: CALIFORNIA HEDGE FUNDS AND THEIR BILLION-DOLLAR TAX LOOPHOLE

16 Apr 2018
CALIFORNIA HEDGE FUNDS AND THEIR BILLION-DOLLAR TAX LOOPHOLE Simply stated, the carried interest loophole is the mistreatment of hedge fund and private equity fees as capital gains, rather than ordinary income.... Read More
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Report No. 55: DC / MD / VA Billionaires & their Lucrative Loophole

23 Mar 2018
Washington Dc / Maryland / Virginia Billionaires & their Lucrative Loophole This report uses hedge fund and private equity data from Preqin to show that Washington D.C.—along with Maryland and Virginia—could raise huge sums of revenue by acting to close the carried interest loophole.... Read More
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REPORT NO. 54 Hurricane Harvard and the Damage Done to Puerto Rico: How the University’s Endowment Investment Harms the Island

23 Jan 2018
Introduction Four months after Hurricane Maria, nearly half of Puerto Rico is still without electricity. The poverty rate is 46 percent, and even more – 58 percent – for children.[1] Over 80% of Puerto Rico’s agricultural crop value – around $780 million – was destroyed by the hurricane.[2] Its healthcare system, already facing austerity cuts, is in a state of crisis.[3] Damage could top $30 billion for an island that hasn’t seen economic growth for a decade.[4] All this comes on top of incessant demands for more cuts to education, pensions, and other social goods.... Read More
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REPORT NO. 53: PRIVATE EQUITY AND PUERTO RICO

19 Dec 2017
How a TPG Capital Affliate is Buying Up Mortgages and Foreclosing on Island Resident Private Equity and Puerto Rico: How a TPG Capital affiliate is buying up mortgages and foreclosing on island residents The current humanitarian crisis in Puerto Rico cannot be overstated. In the wake of Hurricane Maria, 80% of the island still does not have power.[1] Many towns are dealing with the aftermath of extreme flooding.[2] And there is the looming question of what will happen to the island’s $74.8 billion in debt, which had prompted an economic crisis and extreme austerity budget even before the storms hit.... Read More
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REPORT NO. 52 BILLIONAIRES WOULD DOMINATE ANY NEW YORK CONSTITUTIONAL CONVENTION

2 Nov 2017
BILLIONAIRES WOULD DOMINATE ANY NEW YORK CONSTITUTIONAL CONVENTION If there’s one important thing tying together the biggest issues in government, politics and the economy, it’s the rise of a new class of billionaires that are destroying the economy, corrupting our government, exploding inequality and rigging the system for their own benefit.... Read More

Hedge Papers No. 51: Trump’s Wealthcare Plan: Helping Hedge Funds Profit From Soaring Drug Prices

23 Oct 2017
Trump’s Overlooked Wealthcare Plan: How He’s Helping Hedge Funds Profit from Higher Drug Prices & Tax Dodging at Everyone Else’s Expense Introduction: Trump, Hedge Funds, and the Pharmaceutical Industry In recent weeks, some opponents of the widely criticized Republican healthcare plan have started rebranding it wealthcare, given the mounting evidence that the plan would clearly benefit the wealthiest Americans and given them massive tax cuts.... Read More

Letter to University Endowments Regarding Baupost Group Puerto Rico Debt

23 Oct 2017
This letter was sent to 18 University Endowments from a coalition of progressive groups. October 16, 2017 Ana Mauri Cauce President University of Washington 301 Gerberding Hall
Box 351230
Seattle, WA 98195 Dear President Ana Mauri Cauce, Baupost Group, a hedge fund that the University of Washington endowment appears to invest with, was recently revealed to be one of the largest holders of Puerto Rican debt bonds.... Read More
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Robin Hood Puerto Rico Vultures

20 Oct 2017
PUERTO RICO VULTURE: SETH KLARMAN Baupost Group, CEO   Holds $911 million in PR COFINA bonds Biggest bondholder in austerity lawsuit Hid vulture holdings in secret shell companies OFFICE:  10 SAINT JAMES AVE BOSTON HOME:  329 HEATH STREET CHESTNUT HILL MA $1.5 billion personal fortune Drove mass austerity in Greece, pay cuts in NYC Big investor in dirty fossil fuels & fracking Rigs political system to privatize schools & cut his own taxes PUERTO RICO VULTURE: PAUL TUDOR JONES Tudor Investment Corp.... Read More
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HEDGE PAPER NO. 50: Corporate America to Investors: Trump is Bad for Business

28 Sep 2017
Corporate America to SEC:  Trump is Bad for Business Since Donald Trump came down the golden staircase inside Trump Tower to announce his candidacy on June 16th, part of his core economic argument has rested on the fact that he’s “really rich” and he’s going to “make the country rich.” At the debates, he argued in simplistic terms that his economic program would spur economic and job creation.... Read More

Hedge Papers No. 49: DAN LOEB’S TAINTED CASH

22 Aug 2017
TRACKING THE HEDGE FUND BILLIONAIRE’S MONEY IN NEW YORK POLITICS Recent events in Charlottesville are a sobering reminder that violent white supremacist groups are not the stuff of history, but a horrifying present-day reality for a country that continues to be torn apart by racism and the legacy of slavery. Though these groups do not claim the membership rolls that the KKK did in its heyday, they have risen to new prominence over the past year, supported by infrastructure like Breitbart News and effectively urged on by a billionaire who owes his presidency to the race lie.... Read More
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