HEDGEPAPER NO. 63 THE HEDGE FUNDS THAT KILLED TOYS “R” US STILL PREY ON PUERTO RICO

8 Oct 2018
Solus Alternative Asset Management & Angelo Gordon PDF of HedgePaper No. 63 (English)Download PDF of HedgePaper No. 63 (Spanish)Download Introduction The hedge funds that forced Toys R Us to shut down and threw tens of thousands of workers out of their jobs have played a similarly destructive role in Puerto Rico, speculating on government-issued debt and using aggressive tactics to pursue massive profits at the direct expense of Puerto Ricans.... Read More
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HEDGEPAPER NO. 62: DAN MCKEE AND THE RIGHT-WING BILLIONAIRES WHO BACK HIM

7 Sep 2018
Download HedgePaper No. 62Download Dan McKee has made some very powerful and very wealthy friends.  It’s worked out well for him — but not so great for regular families in Rhode Island.  As the former Mayor of Cumberland and current Lieutenant Governor, McKee has pushed policies that have undermined Rhode Island’s public schools and thrown into question his commitment to holding accountable those who profited from the opioid crisis.  ... Read More
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HedgePaper No. 61: THE GOLDEN REVOLVING DOOR

21 Aug 2018
HedgePapers No. 61: THE GOLDEN REVOLVING DOOR: How A Planned Debt Restructuring Agreement Benefits The Bankers — and Could Block Puerto Rico From Holding Them Legally Accountable Spanish version of the report.  Executive SummaryAn agreement nearing approval as part of Puerto Rico’s debt restructuring process could block many forms of legal accountability for a key set of government officials and bankers that oversaw the creation of the debt – and stick credit unions and municipalities with the tab.... Read More

HEDGE PAPERS NO. 60: NEW JERSEY HEDGE FUNDS AND THEIR BILLION-DOLLAR TAX LOOPHOLE

26 Jun 2018
HEDGE PAPERS NO. 60 : NEW JERSEY HEDGE FUNDS AND THEIR BILLION-DOLLAR TAX LOOPHOLE INTRODUCTION: The Carried Interest Loophole. Understanding What it is and Why Trump and Congressional Republicans Kept it Alive in the Federal Tax Law  The carried interest loophole is among the most costly and wasteful tax loopholes out there.... Read More

Report No. 58: Pain and Profit After Maria

22 May 2018
Pain and Profit After Maria Companies Taking Puerto Rico by $torm Five months after Hurricane Maria, and amid a continuing austerity crisis, conditions in Puerto Rico remain dire. More than 1,000 people died from the hurricane, although the official estimate is only 64. The government of Puerto Rico estimates that another 200,000 people (about 5 percent of the population) could leave the island by the end of 2018, adding to the massive wave of out-migration over the past decade.[1] A quarter of the population stills lacks electricity.[2] Relief efforts have been marked by corruption.... Read More
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Report No. 57: Stopping the Opioid Profiteers – How Policymakers and Communities Can Fight Back

26 Apr 2018
Stopping the Opioid Profiteers: How Policymakers and Communities Can Fight Back In recent years, billionaire pharmaceutical executives and hedge fund managers have made billions in profit by creating, feeding, and treating a crisis of opioid addiction in the United States. This report examines how the biggest opioid profiteers operate, and offers a roadmap for how policymakers and communities can fight back.... Read More
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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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