Meet Paul Singer: the greedy capital vulture forcing whole nations into poverty

(not satire – it’s the world today)

The fact you’ve probably never heard of Paul Singer says a lot about the way the world is run today.

Whole nations have been driven into poverty by Mr Singer and millions of people forced to live in extreme penury by his greed.

Singer doesn’t lend money  – he buys up old debts then like an old-style gangster he demands outrageous interest payments for them.

The private companies which do this are known as vulture funds and Singer is the greediest vulture of them all.

As just one example example of his activities, a few years ago Singer bought up the Republic of Congo’s historic debts for $10 million and demanded the poverty stricken nation pay him back at a rate of over 1,000%.

The country – scared of the consequences of defaulting – duly paid Singer $127 million, money which could have been spent on roads, hospitals and schools.

As part of the deal, Singer also gets substantial profits from the country’s oil sales, directing much-needed money away from the state and into his own pocket.

Singer has been demanding interest rate payments from Argentina of over 30% and Argentina this week decided to default rather than send its citizens into poverty just to fill Singer’s coffers with more money.

But what does Singer do with all this money?

He openly uses it to support the Republican Party – Singer was one of George W Bush’s biggest donors and also financed Mitt Romney’s presidential campaign.

And according to Fortune magazine, Singer is a “passionate defender of the 1%“.

Singer – like most of the people who are actually running the world’s finances – hates publicity and tries very hard to be anonymous.

He also apparently hates the word ‘vulture’ – probably because he realises it paints a far too realistic picture of what he and his ilk actually do. They prefer to hide behind and couch their activities in financial gobbledygook which they know nobody – including themselves – can understand.

It’s about time greedy vultures like Singer were exposed to the world for the bloodsucking racketeers they are.

So if you want to annoy Singer, share this information far and wide (before I get a letter from his lawyers):