Greg Palast Reports: BBC NewsNight- Vulture Funds

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Investigative journalist Greg Palast reports on one company that has won the right to collect $20 million from the government of Zambia after buying its debt for $4 million. In his recent State of the Union address, President Bush declared the United States was taking on the challenges of global hunger, poverty and disease, and urged support for debt relief, which he called the best hope for eliminating poverty.

Channel: News & Politics
Uploaded: February 27, 2007 at 4:36 pm
Author: GregPalastOffice

Length: 00:05:52
Rating: 4.89
Views: 21272

Tags: greg palast bbc newsnight vulture_funds bono poverty

Video Comments:
JFWilliam (August 15, 2008 at 3:02 pm)
Read John Perkins's Confession of an Economic Hitman for a complete run down of the kind of procedure executed on third world country under the guise of globalization. A crime against humanity by any other name indeed ! Shame on all of us for letting this happen over & over & over again & still going on at this very moment... shame on us all !
Neurolanis (October 1, 2008 at 2:54 am)
That's right, JFWilliam, but we can change everything around if we have the heart.
JFWilliam (October 1, 2008 at 6:04 am)
Now it seems that the USA will taste it's own medicine... Stilglitz 4 steps / 1)Privatization. After briberization, Step Two 'Capital Market Liberalization. 3 )Market-Based Pricing, a fancy term for raising prices on food, water and cooking gas. This leads, predictably, to Step-Three-and-a-Half: what Stiglitz calls, "The IMF riot." 4) "poverty reduction strategy": Free Trade. by the rules of the World Trade Organization and World Bank. So we still have a bumpy ride toward the AMERO. Good luck !
westkan (July 30, 2008 at 9:59 am)
Depending how far one has buried themselves with the CCs, one can come out the other side. Not that's it's easy and there no debt relief and, you have to pay back the money borrowed and interest. you can get significantly lower interest rates. you need a 3rd party to work wit you and the CC companies, but free help is available
kensingtion (July 17, 2008 at 4:26 pm)
Why the fuck hasn't this guy thrown Anderson Cooper's ass out in the street where it belongs.
DanLackey (May 28, 2008 at 11:21 pm)
It said its bill was the result of interest and costs, but the judge has indicated that Zambia should pay less.
DanLackey (May 28, 2008 at 11:21 pm)
Last Updated: Thursday, 15 February 2007, 18:38 GMT

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Zambia loses 'vulture fund' case

Zambia's infrastructure plans could be threatened


'Vulture fund' report
A High Court judge has ruled that Zambia must pay a substantial sum to a so-called "vulture fund".
British Virgin Islands-based Donegal International paid less than $4m (£2m) for a debt the African nation owed, but sued Zambia for a $42m repayment.
adoracle1 (May 22, 2008 at 1:56 am)
Well of course Bush supports debt relief...its another way to soothe and reward his evil cronies....here ya go boys...fresh meat...FEED!
This country has been conquered in an ideological coup de`tat as surely as if they'd used the army...its a done deal. Ron Paul was right

now they lay them down to sleep,
dreams of stalk and prey to keep
a million desperate souls to take
And miles to go before they wake
Miles to go before they wake...
C0MIC25 (May 3, 2008 at 6:21 pm)
bravo brother! well said..one of those tumbs up... is from me.
dentistsugardusty (April 26, 2008 at 1:13 am)
Damn! who's really interested in peace?
...and who's mightier a stockholder or a president? knowledge + money + political placement + blind opportunity = callous humanitarianism or Fuck Themism..this is mine-ism. M.O.B. money over bitches and M.O.B.H. money over the balance of humanity