Paul Singer

From Wikipedia, the free encyclopedia

Paul Singer is a billionaire of Elliott Associates. Vulture funds are what this company specializes in. In 1996, he bought up some of Peru's debt for $11 million, then threatened to bankrupt Peru if they didn't give him $58 million. He got his $58 million. Then Singer bought some discounted debt from Congo Brazzaville for only about $10 million. Elliott Associates company then sued the Congo and turned the $10 million into $127 million. But that still wasn't enough. www.DemocracyNow.org

Singer's company says the Congo government is corrupt and hid assets from creditors. Courts have agreed, allowing Singer to seek tripled damages under US racketeering law. They could get $400 million. Not bad for a $10 million bet. Congo was counting on George W Bush to use his legal authority to stop Singer's court action. That hasn't happened. Paul Singer is the number one donor to George Bush and the Republican cause in New York City. In the run-up to the 2000 election, he gave them $300,000. In 2004, he gave them $1.2 million, including money for the so-called Swift Boat campaign, which smeared the war record of George Bush's opponent. His spokesman told us, “We have nothing to hide. We just don't do interviews.” www.DemocracyNow.org

Singer is also the Chief Information Officer (CIO) and Divisional Senior Vice President at Target Corporation. www.forbes.com

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