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Vulture: Vulture Funds
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The Vulture funds then sue in England or other countries, and gain awards for the junk bonds that were about to be forgiven. After the Court rules in favor of the Vulture fund, the Vulture fund can then tap into the funds approved by the US Congress for debt relief.
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Informed of the Argentine developments, U.S. Presidential pre-candidate Lyndon LaRouche denounced the vulture funds-which typify a very large part of the global financial system today-as being "fascists, just like those who put Hitler in power. These bastards," LaRouche elaborated, "care even less than President Bush for the stability of the system. Now you're looking at fascism in the face. And if you want to characterize it, you would say about the vulture funds' reaction, this gives you the mentality of the same kind of fascists who sacrificed the human race, including all those who died eventually in Auschwitz. This is why people died in Auschwitz: because these vulture funds had to have a government which would do the kind of job they demand."
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Often called a "vulture fund," Cerberus invests mainly in companies in or on the verge of bankruptcy, buying those firms' bonds in the hopes of converting them into cash or stock in a revived company. In 2000, the company hired former vice president Dan Quayle as a top executive.
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The vulture funds raise most of their money through legal actions in US courts. Those actions against foreign governments can be stayed by the word of the US President and that is where lobbying and political influence becomes important.
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Vulture Funds