Jubilee USA Network – Working to End Vulture Funds

As supporters of Jubilee USA and its efforts, we have been following the legislation,  Stop VULTURE Funds Act (HR 2932), a bill in the House of Representatives that would prevent vulture funds from making excessive profit off the debt of the world's poorest nations. The bill was re-introduced this spring by Representatives Maxine Waters (D-CA) and Spencer Bachus (R-AL).

Jubilee USA, together with Africa Action and TransAfrica Forum, continues its campaign to stop Vulture Funds from preying on impoverished countries.

BBC News recently reported on this issue, stating “Over the last five years the UK, US and other countries have written off billions of dollars in loans to the world's poorest countries in an attempt to make poverty history.  But a small group of ruthless financiers - the vulture funds - have been trying to divert that money into their own pockets. Greg Palast reports on their latest target, Liberia, and on moves by UK MPs, prompted in part by a previous Newsnight investigation, to outlaw such funds.”

You can watch the video by clicking here.  (Please note, the piece is 11 minutes long, but well worth the time!)
http://news.bbc.co.uk/2/hi/programmes/newsnight/8538889.stm