Rhodes and Palast Hunt Giuliani's Favor Vulture

"Can't he make a living in a more reputable, less disgusting way, say, in child pornography?"

Randi Rhodes is asking you, Mr. Singer. And we're still waiting for the answer. [To hear the Palast/Rhodes report, click here.]

Paul Singer is a vulture. And a billionaire. And, with his underlings at Elliott Associates, the number one sugar-daddy donor to the presidential campaign of Rudy Giuliani, dropping $168,400 so far and, according to secret campaign documents, committed to raise $10 million for Rudolf the Great, Emperor of 9/11.

So who is this bird of prey Singer who holds Rudy in his beak?

Unlike feathered predators, Singer preys on the living. Singer figured out a way to siphon off funds intended for debt relief to some of the poorest countries in the world. Nice guy.

And by the way, I didn't come up with the moniker "vulture." Just about everyone, from the new Prime Minister of Britain to the World Bank, calls Singer and his ilk "vultures."

Here's how a vulture operation works. The vulture fund buys up the debt of poor nations cheaply when it is about to be written off and then sue for the full value of the debt plus interest -- sometimes more than ten times what they paid for it. Singer, for example, paid just $10 million for Congo Brazzaville's debt and is now suing for over $400 million.

Singer knew he'd turn a 1000%-plus profit on his $10 million investment with George Bush's help.

ENDS

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