Open Letter: Antonio Weiss Must Recuse From Treasury’s Puerto Rico Debt Crisis Response

24 Sep 2015

September 23, 2015 Antonio Weiss Counselor to the Secretary United States Department of the Treasury 1500 Pennsylvania Avenue, NW Washington, D.C. 20220 Dear Counselor Weiss: On behalf of the 13 undersigned national and community organizations, representing more than 9 million Americans, we are writing to ask you to recuse yourself from all Treasury activities relating to the debt crisis of the Commonwealth of Puerto Rico.... Read More

#HedgePapers No. 21 – The Antonio Weiss Files: Vultures, Bribes & Conflicts of Interest in Puerto Rico

24 Sep 2015

Antonio Weiss must be recused from decisions on the Puerto Rico crisis Treasury official Antonio Weiss is currently leading the Treasury Department’s response to the Puerto Rico debt crisis. But Weiss received a $21,200,000 golden parachute from his previous employer, Lazard Frères, an investment bank with numerous ties to the Puerto Rico debt crisis.... Read More

#HedgePapers No. 20 – New York City’s Public Pension Vultures In Puerto Rico

21 Sep 2015

Hedge Funds Preying on Puerto Rico Manage Over $550 Million in NYCERS Funds Puerto Rico’s 3.5 million residents face frightening austerity measures in an economic crisis that is unfolding rapidly. Hedge funds have been buying up a large portion of the island’s debt, sometimes for pennies on the dollar. These hedge funds are betting on big profits if Puerto Rico is not permitted to declare bankruptcy or refinance its $72 billion debt and is forced to repay all creditors in full.... Read More

#HedgePapers No. 19 – HEDGE FUNDS ATTACK BALTIMORE

6 Aug 2015

HEDGE FUNDS ATTACK BALTIMORE: Billionaire financiers want huge profits from tax liens on Baltimore’s poorest residents Baltimore is one of the only cities in the country to auction off tax liens originating from unpaid residential water bills, and it allows residents to have their debts sold when they accumulate to a mere $250, significantly less than other major cities.[1]... Read More

Hedge Clippers to Cuomo: Stand with Puerto Rico — Not With Hedge Fund Billionaires

30 Jul 2015

July 30, 2015 Dear Governor Cuomo – It is with a growing sense of outrage that we write to you today about the horrifying debt crisis in Puerto Rico. This is a crisis that several of your top New York hedge fund donors are actively exploiting and deepening, in a shameless, morally repugnant effort to make as much money as possible.... Read More

#HedgePapers No. 18 – Diminishing Returns: How Chris Christie Is Wasting Billions on Bad Hedge Fund Investments

22 Jul 2015

Diminishing Returns: How Chris Christie Is Wasting Billions on Bad Hedge Fund Investments Introduction: The Failed Experiment of Investing Public Pensions in Hedge Funds In 2007, the state of New Jersey began an experiment in which it invested billions of public pension dollars in hedge funds. However, since Governor Christie took office in 2010, the state’s public investment in hedge funds has doubled, resulting in his hedge fund friends and donors collecting an estimated $1 billion in fees from New Jersey public pension funds.... Read More

#HedgePapers No. 17 – Hedge Fund Vultures In Puerto Rico

10 Jul 2015

HEDGE FUND Vultures IN PUERTO RICO They want huge profits – and they will push austerity to secure them Hedge funds and billionaire hedge fund managers have swooped into Puerto Rico during a fast-moving economic crisis to prey on the vulnerable island. Several groups of hedge funds and billionaire hedge fund managers have bought up large chunks of Puerto Rican debt at discounts, pushed the island to borrow more, and are driving towards devastating austerity measures.... Read More

Partner Paper No. 1 – Hedge Funds Attack American Neighborhoods… Again

25 Jun 2015

HEDGE FUNDS ATTACK AMERICAN NEIGHBORHOODS – AGAIN A new report by our colleagues at the Center for Popular Democracy and the ACCE Institute uncovers how hedge funds and private equity firms have quietly amassed mortgage notes to 200,000 homes in communities around the USA — and they’re getting special treatment from the government to aid their conquests. ... Read More

#HedgePapers No. 16 – Hedge Fund Billions Boost Cuomo’s Privatization Push

8 Jun 2015

HEDGE FUND BILLIONS BOOST CUOMO’S PRIVATIZATION PUSH Why Won’t Hedge Funders Confess Their Role in Multi-Million-Dollar Lobbying Campaign? More than $13 million has been spent since 2014 by two charter/privatization groups trying to eliminate New York’s cap on charter schools and win backing for an unprecedented tax credit that would divert huge amounts of public resources into private schools.... Read More

#HedgePapers No. 15 – Cuomo’s Cronies: How Private School Billionaires Are Banking On Tax Credits From The Governor

28 May 2015

Cuomo’s Cronies: How Private School Billionaires Are Banking On Tax Credits From The Governor Cuomo’s Latest Scheme: Tax Refunds for Billionaires Who Donate to Elite Private Schools and Privatized Charter Schools Andrew Cuomo is probably the first Democratic governor in history to back tuition tax credits and taxpayer-funded subsidies to wealthy families who send their children to elite private schools.... Read More