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 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

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

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

HEDGE PAPER NO. 50: Corporate America to Investors: Trump is Bad for Business

28 Sep 2017

Corporate America to SEC: Trump is Bad for Business Since Donald Trump came down the golden staircase inside Trump Tower to announce his candidacy on June 16th, part of his core economic argument has rested on the fact that he’s “really rich” and he’s going to “make the country rich.” At the debates, he argued in simplistic terms that his economic program would spur economic and job creation.... Read More

HEDGE PAPERS NO. 46: NEW YORK’S BILLIONAIRES AND THEIR LUCRATIVE LOOPHOLE

7 Mar 2017

How Our State Can Raise Billions by Taxing Carried Interest Across the country, states like New York stand to gain billions of dollars in revenue by closing the carried interest loophole. It’s a long overdue element of financial reform that the federal government has failed to enact, despite bipartisan support for tax fairness.... Read More

#HedgePapers No. 28 – Hedge Funds and Fossil Fuels

10 Mar 2016

Fossil fuel companies are at the root of the climate crisis. Indeed, according to a recent study in the journal Climatic Change, the climate crisis of the 21st century “has been caused largely by just 90 companies, which between them produced nearly two-thirds of the greenhouse gas emissions generated since the dawning of the industrial age.”[1] ... Read More

#HedgePapers No. 25 – Endangered Endowments: How Hedge Funds Are Bankrupting Higher Education

7 Feb 2016

The Harmful Role of Hedge Funds in University Endowments University endowments play an important role in the lives of students, faculty and other campus workers. Endowments are funded by donations, and universities use the investment returns to pay for improvements to buildings and facilities, provide scholarships, fund teaching and learning, and provide other services and economic support to the surrounding community.... Read More