<![CDATA[End Poverty 2015 Forum]]> Copyright 2002-2006 Meetup, Inc. Wed, 06 Aug 2008 12:54:07 EDT support@meetupalliance.com (Meetup Alliance) <![CDATA[Blog the Debt- Jubilee Update]]> http://www.meetupalliance.com/End_Poverty_2015/discuss/1449 Protection against Predators: Congress Clips the Wings of Vulture Funds

Leaders in Financial Services, Judiciary and Foreign Affairs Committees Introduce H.R. 6796
August 1, 2008

Press release from Friday night when Representative Maxine Waters (CA) introduced the Stop VULTURE FUNDS Act, an important step in the fight to end greedy and corrupt business practices that take advantage of the world's poor.

WASHINGTON – Today, African advocacy organizations and debt relief campaigners welcomed the introduction of a bill in the U.S. House of Representatives to prevent so-called Vulture Funds from making excessive profits off the debts of the world’s poorest nations. Vulture Funds purchase the defaulted debts of Heavily Indebted Poor Countries at much reduced prices and then litigate against the debtor for greatly inflated sums. Through the seizure of assets, litigation and political pressure, they seek repayments that are far in excess of the amount that they paid for the debt.

Neil Watkins, National coordinator for the Jubilee USA Network, an alliance of 80 religious denominations and faith communities, development agencies, and human rights groups working for debt relief, said, “We welcome the strong leadership showed by the Congressional co-sponsors of this important new legislation. Vulture funds are grabbing the proceeds from debt relief of some of the poorest countries in the world. This bill should make vulture funds think twice before suing the poor for profit.”

Lead sponsor Congresswoman Maxine Waters said, “The Stop VULTURE Funds Act would protect the world’s poorest countries from the predatory practices of vulture funds and allow these countries to use their limited resources to meet the needs of their people.”

The Stop VULTURE Funds Act (H.R. 6796) outlaws profiteering from sovereign debt by capping the amount of profit that a fund can reap through litigating against poor countries to collect defaulted debts. It also requires disclosures from any fund which pursues Vulture Fund activity through the U.S. courts. Introduced by Financial Services Committee member Representative Maxine Waters (D-Calif), the bill counts original cosponsors Representative John Conyers, Jr. (D-Mich.), Chairman of the Judiciary Committee and Representative Donald Payne (D-N.J.), Chairman of the Subcommittee on Africa and Global Health.

The International Monetary Fund, the World Bank, U.S. Treasury Secretary Henry Paulson and leading NGOs have all condemned the activities of the Vulture Funds. Secretary Paulson stated in Congressional testimony that he “deplore(s) what the Vulture Funds are doing.”

“The profiteering tactics used by these Vulture Funds are undercutting progress made towards relieving the debt burdens of the world’s poorest countries,” says Nicole Lee, Executive Director of TransAfrica Forum. “HR 6796 is a key step in closing the legal loopholes which have allowed these Vultures to operate in such a devious way.”

“We’ve seen how these greedy lawsuits can hinder health and education programs in countries such as Zambia,” said Michael Swigert, Associate Director for Policy and Communications at the social justice organization Africa Action. “This bold legislation would help protect vulnerable African countries like Liberia that may become future targets for Vulture Funds.”

As of late 2007, 11 of 24 Heavily Indebted Poor Countries (HIPCs) surveyed by the International Monetary Fund were facing litigation from 46 different commercial creditors. Of these, 25 creditors had received court judgments against HIPCs amounting to about $1 billion on original claims of $427 million. Their activity has increased the debt burden of the world’s poorest citizens and made the task of securing debt relief harder.

Last May, some of the world’s major creditor governments publicly committed not to sell or transfer any of their debt claims on HIPC countries to creditors who do not intend to provide debt relief under the HIPC initiative, safeguarding this debt from litigation by Vulture creditors. Many countries, however, continue to on-sell their debt claims from vulnerable countries.

http://www.jubileeusa.org/
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Wed, 06 Aug 2008 12:54:07 EDT
<![CDATA[Giving the gift of clean water- Please vote Africare!]]> http://www.meetupalliance.com/End_Poverty_2015/discuss/1341 Giving the gift of clean water

Ready, Set, Vote!

 
American Express has announced its second annual on-line charity campaign, “The Member’s Project.” Starting July 22 nd , members will be able to vote for their “favorite idea” that they believe will make a positive impact on the world.  Up to $2.5 million will be donated by American Express to the top-voted project. 
 
Your vote can make all the difference. Vote today!
 

 
Click on the image above or visit the link below: http://www.membersproject.com/
 
  Vote for project:   
   
" Clean Water - Life’s Lifeline”
   
You can find this project under  Community Development  and the section labeled " Disaster Relief, Food Crisis & Poverty. "

 

    If the project is accepted, the next step is to vote for Africare. 
Stay tuned!
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Wed, 23 Jul 2008 08:51:01 EDT
<![CDATA[Immediate Action Needed!]]> http://www.meetupalliance.com/End_Poverty_2015/discuss/1091 50 Senators To Fight AIDS, TB And Malaria

Help us get to 50 co-sponsors in the senate for this lifesaving legislation. Sign the petition below and we'll deliver copies along with your (optional) personalized message to your senators.

http://www.one.org/pepfarsenate/

Please pass this opportunity on to as many people as you can...

Have a great weekend!  -K. Elizabeth

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Wed, 16 Jul 2008 20:53:10 EDT
<![CDATA[African Well Fund: Build a Well for Bono's Birthday]]> http://www.meetupalliance.com/End_Poverty_2015/discuss/1177

"For the sixth year in a row, the African Well Fund is pleased to announce plans for a fundraising drive to "  Build a Well for Bono's Birthday  ".

From  March 17th through May 10th,  the African Well Fund invites U2 fans and others who are inspired by Bono's tireless activism on behalf of Africa to make a donation in honor of Bono's birthday on May 10th."

K.M. wrote: Please pass this along to everyone you know that may be interested!  You can also read what Bono thinks of his annual gift at the link:  http://www.africanwellfund.org/Bono-Well-2008.html

Have a great weekend!  

 

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Thu, 08 May 2008 07:15:56 EDT
<![CDATA[Upcoming For April]]> http://www.meetupalliance.com/End_Poverty_2015/discuss/1030 Hello!

 

I thought this would be a good way to share some things that we can get involved with for the month of April.  These happenings are available in all communities! 

 

The Jubilee Act (HR 2634) is up for vote in the House.  We need to move on this right away if we are going to help.  We have until April 15th.  All we need to do is call the number in the link below.  I have already done it a few times on some other issues.  It is actually very simple.  There are scripts provided if you are worried about how to express your concern.  An assistant will answer.  You can leave him/her a polite message with your request.  You may consider printing out the information provided in the link. Maybe you would be more comfortable reading it over.  That might work.  Most of you are probably familiar with this concept.  I just want to throw the other stuff out there for anyone who isn't. 

 

Please call before April 15th!  Please pass the word along to as many people as you can.  This could be an awesome way to assist and protect people on so many levels.

 

There is a second part!  We need to call the U.S. Senate too.  They will be having a Senate hearing about the Jubilee Act (S 2166).  The process is about the same.  You just want to call and request that the Senator support the Act.  I am including the direct link to provide you with the contact information you need. 

 

Debt relief has been accomplished in the past.  We have a small window of opportunity to assist with  massive amounts of positive change if the Act is passed...

 

LINK: http://www.jubileeusa.org/get-active/measureup/callcongress.html

 

ONE Partner Support-American Foundation for Children with AIDS Fundraiser!

This opportunity is really cool. Helping Children with AIDS is going to be wonderful.  All we need to do is ask our bosses, friends, neighbors and/or anyone interested to change their current printer cartridge recycling company over to Planet Green Recycling!  They will provide us with drop off boxes, pre-paid return labels and everything else we need.  This project was posted in the DC ONE Yahoo group by a fellow volunteer named Sarah.  She has already started her collection.  We can jump in at any time.  I am going to be working on this project quite a bit because it is so easy!  Planet Green Recycling will be donating some of the proceeds directly to American Foundation for Children with AIDS.  Lets try to get as many businesses as we can to join in on this project.  I have already talked with our office manager.  She was happy to hear about it.  Here are the links:

 

http://www.helpchildrenwithaids.org/  
(ONE Partner)

 

http://www.planetgreenrecycle.com/resources.html  
(this link gives the details needed to get started)


One more great idea for this month:

 

Check your Sunday Washington Post for the P&G coupon booklets!  Every Sunday during the month of April you will help raise money towards water purification by simply purchasing your everyday stuff!  Here is the link.  They tell the story much better than I could: www.givepurwater.org .

 

I hope you have a great weekend!  Let me know if you need anything.  -K. Elizabeth

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Wed, 16 Apr 2008 23:11:10 EDT
<![CDATA[Huge Win!!]]> http://www.meetupalliance.com/End_Poverty_2015/discuss/888

Biden-Lugar Amendment Passes!

Over the last two weeks, ONE members fought back against cuts to the 2009 international affairs budget. At 1 a.m. today, we not only stopped those cuts cold, we helped secure a $3.1 billion increase! 

http://www.one.org/bidenlugar/]]>
Sat, 15 Mar 2008 00:03:57 EDT
<![CDATA[UNICEF Tap Project - March 16th to March 27th]]> http://www.meetupalliance.com/End_Poverty_2015/discuss/878 UNICEF Tap Project - March 16th to March 27th Posted by: "Yvette A. Castro" Tue Feb 26, 2008 1:26 pm (PST) Beginning Sunday, March 16 through Saturday, March 22, restaurants will invite their customers to donate a minimum of $1 for the tap water they would normally get for free. For every dollar raised, a child will have clean drinking water for 40 days. For more information and to find a particating restaurant in your area go to http://www.tapproject.org/ ]]> Thu, 13 Mar 2008 22:03:06 EDT <![CDATA[Free Cone Day!]]> http://www.meetupalliance.com/End_Poverty_2015/discuss/849 http://one.org/benjerry/]]> Mon, 10 Mar 2008 20:43:36 EDT