Cancer of humanity.
Topic: Hedge funds tell Puerto Rico: lay off teachers and close schools to pay us back (Read 298 times)
July 28, 2015, 11:28:43 AM
July 28, 2015, 07:17:47 AM
I guess these hedge fund managers bought a couple of cotton farms on the south and now they need some blacks to work on those like in the good ole' times. As we all know literate slaves are a lot of hassle, they can read all sorts of dangerous stuff, and that's not good for the business.
IMO these hedge fund managers should be lined up against the wall. The world would be a much better place.
IMO these hedge fund managers should be lined up against the wall. The world would be a much better place.
July 28, 2015, 07:09:36 AM
Hedge funds tell Puerto Rico: lay off teachers and close schools to pay us back
http://www.theguardian.com/world/2015/jul/28/hedge-funds-puerto-rico-close-schools-fire-teachers-pay-us-back
<< Billionaire hedge fund managers have called on Puerto Rico to lay off teachers and close schools so that the island can pay them back the billions it owes. The hedge funds called for Puerto Rico to avoid financial default – and repay its debts – by collecting more taxes, selling $4bn worth of public buildings and drastically cutting public spending, particular on education.
The group of 34 hedge funds hired former International Monetary Fund (IMF) economists to come up with a solution to Puerto Rico's debt crisis after the island's governor declared its $72bn debt "unpayable" – paving the way for bankruptcy. The funds are "distressed debt" specialists, also known as vulture funds, and several have also sought to make money out of crises in Greece and Argentina, the collapse of Lehman Brothers and the near collapse of Co-op Bank in the UK.
The report, entitled For Puerto Rico, There is a Better Way, said Puerto Rico could save itself from default if it improves tax collection and drastically cuts back on public spending. It accused the island, where 56% of children live in poverty, of spending too much on education even though the government has already closed down almost 100 schools so far this year. >>
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