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]... Read More

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

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

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

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]... Read More

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]... Read More

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

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