Vulture Funds
“Vulture funds; Wealthy foreign investors buy up distressed sovereign debt at pennies on the dollar – typically at a 90% discount – then reap vast profits when those debts are repaid in full. One trick is to make sure that influential locals (aka Economic Hitmen) are secretly part of the investor group buying the discounted debt: these locals will then do battles inside the developing country governments to make sure the debts get paid in full. Their involvement, of course, must be hidden behind a shield of offshore secrecy, so that the impoverished nation’s citizens can never find out how their nation’s wealth was stolen… … Economists have not ignored these issues entirely, but they almost always break them down into discrete, country level local problems that only blame corrupt local elites. These matter of course but such analyses doubt what all the disasters have in common. Offshore. .. Two bodies set rules and models and standards in this field: the OECD (Organisation for Economi