Pain & Profit: The Act 22 Donors Influencing Puerto Rico’s Elections

22 May 2024

Report is available in English and Spanish May 2024 Executive Summary In 2012, the Puerto Rican government adopted Act 22–later amended into Act 60–which gave Wall Street executives, real estate developers, and other wealthy outsiders an unprecedented 100% tax exemption on all income and investments if they moved to Puerto Rico.[1]... Read More

Pain & Profit: The Act 22 “Charities” that Take from Puerto Ricans and Give Little in Return

10 Apr 2024

A Spanish version of the paper is available for download. April 2024 Executive Summary In an effort to attract wealthy investors to Puerto Rico, the Puerto Rican government passed the “Act to Promote the Relocation of Individual Investors to Puerto Rico” (known as Act 22 and later amended into Act 60) in 2012.... Read More

Hedgepaper 76: Pharma’s Failed Promise: How Big Pharma Hurts Workers, Dodges Taxes, and Extracts Billions in Puerto Rico

17 Aug 2022

Pharma’s Failed Promise: How Big Pharma Hurts Workers, Dodges Taxes, and Extracts Billions in Puerto Rico Download a version of the Spanish PDF of the report August 2022 The Hedge Clippers are working to expose the mechanisms hedge funds and billionaires use to influence government and politics in order to expand their wealth, influence, and power.... Read More

Hedge Paper No. 73 – The New Oversight Lords

17 Mar 2021

Download Spanish PDF Download English PDF The New Oversight Lords Four and a half years after the enactment of PROMESA, the struggle continues in Puerto Rico against the oversight board and the vulture funds. The PROMESA era has been a difficult time that has seen several cataclysms: the destruction brought by hurricanes Irma and María, the earthquake and its aftershocks, and the global COVID-19 pandemic.... Read More

Pain and Profit: COVID-19 Profiteers in Puerto Rico

30 Jul 2020

Spanish PDF By Abner Dennis For many years, the pharmaceutical industry has extracted enormous amounts of wealth from Puerto Rico. The companies have secured lucrative tax breaks from local government officials interested in attracting their operations to the island, and as a result pharmaceutical products account for a large share of Puerto Rico’s exports.... Read More

FUND THE PEOPLE’S RECOVERY: MAKE BILLIONAIRES AND THE SUPER-RICH PAY

15 Jul 2020

Connecticut is in crisis Working people — especially those who are Black or brown — are losing their jobs, losing their health and losing their lives from COVID-19. They are terrorized by persistent, systemic racism in law enforcement. They do the risky-but-lifesaving work in the public sector and the private sector that’s essential to keep our state safe and functioning.... Read More

HEDGE PAPER NO. 71: IT'S TIME TO MARTIN ACT

11 Mar 2020

HEDGE PAPERS NO. 69: BILLIONAIRE CORPORATE LANDLORDS ARE EXACERBATING CALIFORNIA’S HOUSING CRISIS

27 Aug 2019

BILLIONAIRE CORPORATE LANDLORDS ARE EXACERBATING CALIFORNIA’S HOUSING CRISIS Acknowledgements This report was researched and written by Eli Vitulli (Center for Popular Democracy). Additional research and writing support was provided by Sofia Lopez (Action Center on Race & the Economy). It was edited by Amy Schur and Anya Svanoe (Alliance of Californians for Community Empowerment), Michael Kink (Hedge Clippers), and Emily Gordon and Connie Razza (Center for Popular Democracy).... Read More

HEDGE PAPERS NO. 68: PAIN AND PROFIT Rosselló is gone but vultures still prey on Puerto Rico

13 Aug 2019

PDF En Espanol Pain and Profit – Rosselló is gone but vultures still prey on Puerto Rico Over the past month, Puerto Ricans have risen up in historic numbers to reject the old political and economic order overseen by a corrupt local elite that prioritizes its own interests and Wall Street profits over the Puerto Rican people.... 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