Guess whose side the U.S. is on - NML Capital, LTD., a vulture hedge fund that is a subsidiary of Paul Singer's Elliott Management Corporation
A vulture fund is a private equity or hedge fund that invests in debt considered to be very weak or in imminent default. Investors in the fund profit by buying this debt at a discounted price on a secondary market and then suing the debtor for a larger amount than the purchasing price. Debtors can include companies, countries or individuals. The term is used to criticize the fund for strategically profiting off of debtors that are in financial distress.
The term is a metaphor used to compare the fund to the behavior of vulture birds “preying” on debtors in financial distress by purchasing the now-cheap credit on a secondary market to make a large monetary gain; in many cases, leaving the debtor in a worse state.
http://www.reuters.com/article/2014/06/26/argentina-debt-idUSL2N0P710U20140626
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