It’s time to put an end to the practices of “vulture funds”


	It’s time to put an end to the practices of “vulture funds”

jimbo1000

10-23-2008 5:12 AM

354 views

tags:

development, politics

jimbo1000 says:

An immoral practice

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/b4986b83-9825-43b2-bc01-3efdd5c6d061/FF8D8072-80BE-448D-B458-EBC108D859DC/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.nicanet.org/" href="http://www.nicanet.org/" style="font-size: 11px;">www.nicanet.org</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nicanet.org/"><P>  It’s time to put an end to the practices of “vulture funds” that prey on impoverished countries that have recently received debt relief!</p> <P><STRONG>The problem</STRONG>   </p> <P>A ‘vulture fund’ is a company that buys up the debt of poor countries at a big discount from the original owner with the purpose of suing the indebted country in court once it has some money (often after debt cancellation).</p> <P><STRONG>The campaign</STRONG>   </p> <P>Action is needed now to put an end to vulture fund profiteering. That’s why <A href="http://www.africaaction.org/newsroom/release.php" target="_blank">Africa Action</A>, <A href="http://www.jubileeusa.org" target="_blank">Jubilee USA Network</A>, and <A href="http://http://transafricaforum.org/?page_id=55" target="_blank">TransAfrica Forum</A> are joining forces in a joint campaign to “Stop the Vulture Culture.” The campaign includes public education, grassroots action, and targeted advocacy with policymakers and banks.
<A class="more-link" href="http://www.nicanet.org/?p=545#more-545">Read more…</A></P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/FF8D8072-80BE-448D-B458-EBC108D859DC/blog/" title="blog or email this clip"><img src="http://content6.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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