The BBC did an excellent piece on Newsnight about Vulture funds, the system whereby some US companies but up low value foreign debt that is about to be written off then sue the governments for the full amount, plus in some cases winning punitive extra money.
Latest example HERE shows that just $4 million of debt has been turned in to $42 million of damages to be paid to a US firm. This is equal to the total debt right of that Zambia received last year and shows that for all the US talk of helping Africa, in America the interests of corporate America come first.
And will George W Bush do anything about it ? Of course not, after all the biggest Vulture fund in America gave $1.5 million to George Bush's election campaigns. That's the American way !
