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Who Is Responsible for Puerto Rico's Debt?

Ed Morales The Nation
There's evidence some of it is illegal - and activists agree that Washington's colonial control over the island's economy helped create the crisis. We are urging members of Congress to put the people of Puerto Rico first and oppose H.R. 5278 as currently written, said SEIU 32BJ President Hector Figueroa. We need a real solution and Congress must get back to work immediately to provide a path forward that allows Puerto Rico to negotiate a feasible debt restructuring plan.

Universities Are Becoming Billion-Dollar Hedge Funds With Schools Attached

Astra Taylor The Nation
It’s not just universities with eating clubs and legacies that are getting into the game. Many public universities are also doing so, in part because state support for education has been cut, but also to compete with richer schools by rapidly increasing their more limited wealth.

California Pension Fund Gives the Boot to Hedge Funds

Dean Baker Al Jazeera America
Investment of public money needs transparency and accountability. The CalPERS decision to end hedge fund investments should be a clarion call for pensions to re-examine their relationship with these and other nontraditional investment instruments. Trillions of dollars of public money as well as the retirement security of millions of workers are at stake.

The Hedge Fund That Ate Chicago

Les Leopold Alternet
Why does a millionaire mayor and a billionaire hedge fund CEO team up to attack public pensions? Because that's where the money is.

How Billionaires Use the Government as a Tool to Destroy Companies They've Bet Against

Les Leopold comments_image 35 COMMENTS Alternet
This is the heart of the new financialism and it is happening all over the country. If this were just one isolated case, we could probably live with it. It might even lead to a new law that would outlaw Ackman's outrageous behavior. But this kind of de-creative destruction is now a central feature of our new financialized economy. It is now routine for big-time investors to make bets against companies and then try to bring those companies down using a variety of tactics.
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