Wednesday, 29 August 2012

Occupy Wall Street comes home to roost with Congo's 'debt vultures'

Nowhere are the ill-gotten gains of the 1% more grossly apparent than in the activities of 'debt vulture' hedge funds



This article is the subject of a legal complaint from Peter Grossman.

This past Sunday, a deputation from Occupy Wall Street crossed the bridge from Manhattan and brought its protest to the Brooklyn residence of one of New York's "vultures" This type of vulture doesn't roost in a tree, but in a swish brownstone.

A "vulture" is a financial speculator who, as we recently reported, gets his hands on debts owed by desperately poor nations. The Brooklyn "vulture" targeted by OWS and Friends of the Congo is Peter Grossman. Two weeks ago, the Guardian exposed him as a financier who is demanding the Democratic Republic of the Congo, the world's poorest nation, pay $100m to the hedge fund he manages, FG Hemisphere.

Grossman, tipped off about the demonstration, was apparently absent from his brownstone. Police attended, but were content to spectate, hands off.

The OWS marchers had come at the call of Friends of the Congo. Ayman El-Sayed, a registered nurse who has worked in the medical tent at Occupy Wall Street, explained why:

"We want to connect what Peter Grossman is doing to the Occupy Wall Street movement – that he's a part of the 1% that's trying to rip off a nation; that Occupy Wall Street is a domestic issue, but we're trying to connect it to the international struggle as well – whether it's the people in the Congo, or people in Egypt, or anywhere else."

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