John Oliver's story on debt collection is very instructive. It looks only at the domestic practices, but these are essentially the same as the ones used by Vulture Funds in international financial markets.
So respectable businessmen like Paul Singer, a top GPO contributor that owns the Elliot Vulture Fund that buys debt of developing countries and sues them in New York courts, or the international organizations like the IMF that impose conditionality on poor indebted countries are not much different from the bottom feeders described by Oliver.
Subscribe to:
Post Comments (Atom)
Inequality and Stagnation by Policy Design
By Thomas Palley (guest blogger) This paper argues the mainstream economics profession is threatened by theories of the financial crisis a...
-
So besides the coup in Brazil (which was all but confirmed by the last revelations , if you had any doubts), and the electoral victory of M... -
Fields, David (Forthcoming), “Classical Dichotomy,” Edward Elgar Encyclopedia on Central Banking , edited by L.P. Rochon et... -
This was faster than even I expected (for my views on what Macri meant as soon as he was elected see this and for a more recent assessment...
No comments:
Post a Comment