Wall Street Puerto Rico Plunder; Bankers Buy Small Debts, Reap Homes; Developers Killing Indigenous for Land
Puerto Rico: The Financial Implications of Dependency. Antiquated policies from the 20th century – which allowed corporations to extract wealth from Puerto Rico through foreign ownership of land and other productive property – have helped pave the way for a new chapter in the history of colonialism, characterized by exploitative debt obligations which largely benefit Wall Street.
Bankers Buy Baltimore Debt, Charge High Interest, Take Homes. Powerful hedge funds are profiting off of struggling families in Baltimore by buying up debts as small as $250, charging high interest rates, and taking their homes when they fail to pay. Fortress Investment Group and the Los Angeles-based Imperial Capital bought up hundreds of these small liens this year — on everything from an unpaid water bills to delinquent property taxes — and could take property worth tens of millions of dollars if the families can’t pay.
Corporate Developers Seize Indigenous Lands in Brazil and Hire Hit Men to Murder Residents. The number of indigenous people killed in Brazil in connection to huge development projects is on the rise. These projects are a principal reason that indigenous ancestral lands are not being officially recognized.
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