Even after a “haircut” on COFINA bonds, Wall Street vulture funds and their army of lawyers and lobbyists stand to make hundreds of millions of dollars through Puerto Rico’s debt restructuring.
Author: kevin
Posts by Kevin Connor
El Acuerdo de COFINA, Parte 2: Las Ganancias de los Pocos
A pesar de los recortes en los bonos de COFINA, los fondos buitres de Wall Street, con sus ejércitos de abogados y cabilderos, estarán haciendo cientos de millones de dólares mediante el acuerdo de restructuración de la deuda de Puerto Rico.
El Acuerdo de COFINA, Parte 1: El Primer Plan de 40 Años
En Puerto Rico, la deuda de COFINA está siendo restructurada y los bonistas de Wall Street están asegurando miles de millones en ganancias.
The COFINA Agreement, Part 1: The First 40 Year Plan
Puerto Rico’s COFINA debt is being restructured, and Wall Street bondholders stand to rake in billions from the deal. (This is part one of a two-part series on the debt restructuring deal).
Which Politicians are Taking Money from Immigrant Detention Profiteers?
As public pressure grows against those profiting from the incarceration of immigrant families, we look at the politicians taking money from these corporations and their executives.
Fueled by Tax Dollars and Goldman Sachs, Bass Pro-Cabela’s Keeps Selling Assault Rifles
Bass Pro-Cabela’s is the one major gun retailer that still refuses to stop selling assault rifles. It also receives hundreds of millions in tax-payer subsidies and is backed by Goldman Sachs.
How Seth Klarman, One of Puerto Rico’s Biggest Debt Vultures, Was Exposed
One of the biggest speculators on Puerto Rico’s debt remained unknown until last week. Here’s an inside account of how the Baupost Group was exposed.
After Charlottesville, Will Trump’s CEO Councils Break with Him?
Four CEOs have broken with Trump after his failure to promptly and directly denounce white supremacist violence in Charlottesville. Will others follow?
Governor Jerry Brown’s Million Dollar Conflict of Interest at Aliso Canyon
Kathleen Brown, the governor’s sister, has made $1.1 million as Sempra Energy director since 2013. The governor has apparently taken no steps to manage the conflict of interest.
Trump Treasury pick cultivated close ties to police while running “foreclosure machine”
Trump’s pick for Treasury Secretary is Steven Mnuchin, a former Goldman Sachs executive and hedge fund manager. Mnuchin has been receiving critical coverage for his role as chairman of OneWest, a California lender that became notorious for its predatory foreclosure practices, which disproportionately affected communities of color. His close ties to the Los Angeles Police …
Buffalo Billion developer flouted New York State disclosure laws
Buffalo developer Paul Ciminelli was legally required to file annual financial disclosure statements with New York State during his four-year tenure on the public authority controlling Buffalo Billion spending, Empire State Development (ESD). But Ciminelli’s forms are extremely deficient for the first two years he served on the board and missing for the second two. …
Hedge funds may need to find another astroturf group to help them attack Puerto Rico
A hedge-fund backed front group opposing bankruptcy in Puerto Rico is in disarray. Board members of the group, the 60 Plus Association, are suing the group’s president, Amy Frederick, for secretly funneling payments to companies controlled by her husband. Hedge funds recruited 60 Plus to form a group, Main Street Bondholders, that pretends to represent …