Partner Paper No. 6 — PIRATE EQUITY: How Wall Street Firms Are Pillaging American Retail

24 Jul 2019

Nearly 600,000 Retail Jobs Lost at the Hands of Wall Street New report reveals that private equity buyouts in retail have led to a total of 1.3 million jobs lost in that sector and beyond NEW YORK, NY — Over the past decade, more than 1.3 million people have lost their jobs due to trouble or bankruptcies at retail companies owned by private equity and hedge funds, according to a new study released today.... Read More

HEDGE PAPERS NO. 67: VULTURE HEDGE FUNDS ATTACK CALIFORNIA

19 Jun 2019

VULTURE HEDGE FUNDS ATTACK CALIFORNIA – “Quick profits for Wall Street” versus safe, sustainable, affordable energy Dozens of hedge funds are now speculating in shares of PG&E, the huge California utility, with several high-profile vulture funds demanding seats on the board and fighting for control of the company. PG&E was plunged into bankruptcy after decades of irresponsible corporate practices led to massive wildfires and billions in new liabilities.... Read More

HEDGE PAPERS NO. 66: HEDGE FUNDS ATTACK GENERAL MOTORS AND AMERICAN JOBS

18 Mar 2019

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.... Read More

Hedge Paper No. 65: Insured to Profit: Conflicts of interests in the career of José Carrión III

14 Nov 2018

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.... Read More

HEDGE PAPERS NO. 64: SEVEN WALL STREET BILLIONAIRES TRY TO BUY NEW YORK ELECTIONS

28 Oct 2018

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.... Read More

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

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

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 Summary An 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]... Read More