Congress pass VULTURE Funds Act

This letter is has been retired and can only be searched from Older Letters .

This letter, suggested by participant Mark Schafer, stems from a report in
AllAfrica.com that Rep Maxine Waters has introduced HR 2932, the ”Stop
'Vulture' Funds Act.  It goes to the President, Vice President, and Congress.

Dear: _________________

Let's not allow preying on poor countries.

When heavily indebted poor countries default on loans, some hedge funds
buy those debts for 10-20% of face value and then sue the countries for the
full amount. Even before the current global meltdown, this practice added to
 the misery of underdeveloped countries around the world.

HR 2932, the Stop VULTURE (Very Unscrupulous Loan Transfers from
Underprivileged Countries to Rich Exploitive) Funds Act, aims to stop
excess profits by limiting the amount that can be earned from such
investments to six percent annual interest. Proposed in previous sessions
of Congress, this bill now has a chance of passing.

Washington should do everything it can to end this unethical practice.

Sincerely yours

Your name and address

Written by PM 6⁄19⁄09

Further information:  http://allafrica.com/stories/200906181010.html

This letter was released on 06/25/09.

This letter goes to participants who have expressed an interest in the following:
        Civl and Human Rights
        International Politics