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Obama Administration Says No to Vulture Funds

July 7th, 2013

vulturemanLast week, Jubilee’s Executive Committee wrote President Obama to thank him and his Administration for their efforts to stop vulture funds that profit from exploiting poor people. The Reverend Séamus Finn, OMI, a Jubilee USA Board Executive Officer, signed on to the letter, representing the Oblates. The Justice Department filed an Amicus or friend-of-the-court brief in the current legal proceedings of hedge fund NML Capital versus Argentina. The outcome of this vulture fund case will have far reaching impacts on global poverty.

Read the letter to President Obama and join Jubilee USA in thanking the President: sign the thank-you petition to President Obama. Judges in the US 2nd Circuit Court will soon announce a ruling. Days ago, Argentina filed a preemptive appeal to the US Supreme Court to reverse the ruling to pay the vulture funds.

Jubilee USA’s views on this case have been covered extensively in the mainstream media. To fully understand the case and its repercussions on global poverty, read the story that featured Jubilee USA in the Los Angeles Times. Recently in The Financial Times, Jubilee USA called these rich hedge funds what they are, “morally bankrupt.”

We hope you will join us in thanking President Obama for standing up to vulture funds. Please visit the Jubilee USA website for more information on this important issue.  Read the letter (download PDF)…

 

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