General Motors recently announced large-scale plant closures and layoffs, with top executives claiming the company needs $4.5 billion in savings to stay alive. This week the legendary Lordstown manufacturing plant in Ohio will close.
But GM has given over five times as much money — $25 billion — to Wall Street hedge funds and other investors in the past four years, including over $10 billion in controversial stock buybacks....
PDF of Hedge Paper No.65 – English
PDF of Hedge Paper No.65 – Spanish
It has been two years since the approval of the PROMESA Act and the establishment of the Financial Oversight and Management Board (the Oversight Board) in Puerto Rico. The austerity measures implemented have been catastrophic for millions of people in the Caribbean archipelago....
PDF of hedgepaper #64
Hedge fund billionaires are once again attacking elections in New York, pouring millions into candidates, PACs and Super PACs aimed at keeping Congress and Albany – and particularly the State Senate – in Wall Street’s hands.
Just seven billionaires gave over $30 million in New York state and federal campaign contributions this cycle....
Solus Alternative Asset Management & Angelo Gordon
PDF of HedgePaper No. 63 (English)Download
PDF of HedgePaper No. 63 (Spanish)Download
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....
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....
ON HEDGE FUNDS, PHILANTHROPIC HYPOCRICY & CANCEROUS CASH
April 30, 2016
The Sohn Conference Foundation
c/o COO Tiffany Stevens & Paula Bernstein, Development Manager
750 Third Ave, 22nd floor
New York, NY 10017
SENT VIA EMAIL
Board of Directors: Douglas Hirsch, Daniel Nir, Evan Sohn, Graham Duncan
RE: Concerns regarding the Sohn Conference Foundation mission and scheduled speakers at the 2016 Sohn New York Investment Conference
To the Board:
In 2015 we wrote a letter raising serious concerns regarding the mission of the Sohn Conference Foundation and the scheduled speakers at the Sohn Investment Conference who do business in direct conflict of your mission....
September 3, 2015
Dear Governor Cuomo,
Finally, you’ve broken your silence on the Puerto Rico debt crisis!
After we urged you last month to speak out on the debt crisis in Puerto Rico, you announced this week you will lead an investigatory delegation to examine the economic and financial crisis there
But we remain outraged at the fact that many of your hedge fund donors continue to exploit the suffering of Puerto Ricans....
August 5, 2015
Success Academy Charter Schools Chief Executive Officer
Dear Eva Moskowitz:
Hedge fund manager John Paulson recently gave $8.5 million to Success Academy, your charter school network here in New York City.
This is tainted money connected to policies and actions that are harming the lives of Puerto Rican families and school children....
HEDGE CLIPPERS PRESENTS “THE LLC FILES”
HedgeClippers.org now includes a searchable online database of contributions from LLCs to state, local and county candidates and committees in New York since 1999, with collaborative tools to encourage crowd-sourced investigation and analysis of the shady world of New York’s LLCs at http://hedgeclippers.org/llcfiles/.
New York law allows corporations to evade statutory limits on campaign contributions by treating individual LLCs as separate corporations, whether or not they are linked to a single individual, corporation or firm....