HEDGE PAPERS NO. 44: HOW HEDGE FUNDS RIP OFF OHIO UNIVERSITY ENDOWMENTS

17 Feb 2017
How Ohio Students, Taxpayers & Communities Suffer The Great Recession took an immeasurable toll on Ohio’s colleges and universities–and eight years later, Ohio’s higher education system has yet to recover. State funding was cut, tuition was increased, and university endowments lost huge amounts in market losses – and have since lost even more to exorbitant fees charged by greedy Wall Street hedge fund managers.... Read More

TRUMP’S BILLIONAIRE CABINET: How They Harm Working People and Take America’s Wealth for Themselves

14 Feb 2017
Context: As President, Trump Elevates the Wall Street Elite He Criticized as a Candidate Last year, throughout his presidential campaign, Donald Trump harnessed populist anger at the wealthy elite, and presented himself as an outsider who will stand up for working people. At an August 2015 appearance on CBS, Trump said that “hedge funds guys are getting away with murder,” earning “a hell of a lot of money and not paying taxes.”[1] He slammed the “global special interests rigging the system” against working class Americans.[2] Candidate Trump criticized excessive CEO compensation, saying “you see these guys [CEOs] making these enormous amounts of money and it’s a total and complete joke.”[3] Speaking about his tax plan, he claimed “no one will gain more from these policies than low and middle income Americans.”[4] He vowed to drain the “swamp” of political insiders and financial elite.... Read More

HEDGE PAPERS NO. 43: CONNECTICUT BILLIONAIRES AND THEIR LUCRATIVE LOOPHOLE

7 Feb 2017
How We Can Raise Hundreds of Millions by Taxing Carried Interest Across the country, states stand to gain billions of dollars in revenue by closing the carried interest loophole.  It’s a long overdue element of financial reform that the federal government has failed to enact, despite bipartisan support for tax fairness.... Read More

Hedge Papers No. 42: BILLIONAIRES LEON BLACK & STEPHEN SCHWARZMAN ATTACK MOMENTIVE AND UPSTATE NEW YORK

23 Jan 2017
With national attention focused on populist anger over Wall Street’s role in rigging the economy, more and more Americans are taking a growing interest in the business practices of billionaire investors and money managers. Wall Street multimillionaires and billionaires have captured unprecedented wealth, even as the rest of the economy sputters and working families see their incomes stagnate or decline.... Read More

Pirates of the Caribbean: How Santander’s Revolving Door with Puerto Rico’s Development Bank Exacerbated a Fiscal Catastrophe for the Puerto Rican People

13 Dec 2016
Descárgate este informe en español aquí EXECUTIVE SUMMARY Former Santander executives José Ramon Gonzalez and Carlos M. Garcia served as heads of Puerto Rico’s Government Development Bank (GDB) and Santander[1] in Puerto Rico.  Garcia and Gonzalez were recently appointed to 2 of the seven seats of the PROMESA Fiscal Control Board. ... Read More

#Hedgepapers No. 41-BILLIONAIRES ATTACK NEW YORK STATE ELECTIONS

27 Oct 2016
BILLIONAIRES BUYING ALBANY LAWMAKERS TO WIN NEW TAX BREAKS AND PROTECT OLD ONES More and more New Yorkers are outraged over corruption and influence-pedaling in Albany, disgusted with a state government that seems to prioritize special deals for the wealthy and well-connected over the needs of regular people. Dozens of Albany lawmakers and top officials have been arrested and prosecuted for criminal violations in recent years, but state government corruption has continued – including the “legal” corruption that’s caused by massive campaign contributions from individuals and corporations seeking special benefits from state government, or seeking to keep special benefits they’ve already got.... Read More

#Hedgepapers No. 40- High-Priced Hustle: How Hedge Funds Have Made Billions Cheating Ohio’s Public Pensions

24 Oct 2016
Wall Street’s Big Scam: Higher Fees, Lower Returns Introduction: Ohio’s Public Pensions and the Great Recession The Great Recession hit Ohio hard. From leading the nation in foreclosures at the onset of the economic crisis[1] to losing over 400,000 jobs between 2007 and 2009,[2]families and neighborhoods across the state felt the devastating impact of Wall Street’s greed and risk-taking.... Read More

#Hedgepapers No. 39-HEDGE FUND BILLIONAIRES ATTACK THE HUDSON VALLEY

20 Oct 2016
WALL STREET GOES ALL IN TO SAVE TAX BREAKS FOR THE WEALTHY Hedge funds and billionaire hedge fund managers are destroying our economy, corrupting our government, hurting families and communities and exploding inequality. It’s happening all over America, and increasingly all over the world. And now it’s happening in the Hudson Valley.... Read More

#Hedgepapers No. 38- Larry Levy: Chicago’s Taxpayer-Subsidized Real Estate Tycoon

7 Oct 2016
RAHM’S PAL GETS SPECIAL SUBSIDIES AS SCHOOLS SUFFER The Chicago Public School system is struggling with a $1.1 billion budget deficit this year. Parents, teachers and students are suffering from inadequate resources, and are scared about the future. And as Illinois Governor Bruce Rauner continues to slash funding for public education, public school principals have again been asked to cut their spending, this time by $120 million system-wide mid-year[1] – and Chicago Mayor Rahm Emanuel is demanding that teachers accept $500 million in pension cuts.[2] But not everyone is suffering.... Read More

#HedgePapers No. 37 – Trump’s Unholy Trinity: How Three of His Biggest Donors Are Cashing in on California’s Housing Crisis

13 Sep 2016
Introduction: Understanding Trump and His Billionaire Supporters in California During the current presidential race, Donald Trump has come under fire for outrageous and offensive positions on a range of issues. His history of bragging about how he would profit from the real-estate market crash that fueled the Great Recession has drawn considerable scrutiny.... Read More