Liberian Leader Urges MPs to Back Action Against Vulture Funds

Liberian Leader Urges MPs to Back Action Against Vulture Funds, by Heather Stewart and Greg Palast for The Guardian, Thursday, February 25, 2010 Ellen Johnson Sirleaf, the president of Liberia, is urging MPs to back a bill banning vulture funds from using British courts to prey on poor countries when it comes to a vote on Friday. Liberia lost a $20m (£13m) case in London last year against two so-called vultures. Such funds buy up the loans of poor governments, wait for them to win from the international community, and then use courts to pursue the countries for assets. Sirleaf said: "We've been waiting for a parliament or an assembly to take this kind of hard decision. I hope the US Congress and maybe some others in Europe will pick up this gauntlet and will follow the example of Britain." More...