Vulture Funds – The 'Perverse and Immoral' Face of Debt October 1, 2007

Entry £2/£3 (but nobody refused entry for a lack of funds.)

Five years ago, Gordon Brown told the United Nations that the vultures were perverse and immoral: We particularly condemn the perversity where vulture funds purchase debt at a reduced price and make a profit from suing the debtor country to recover the full amount owed, a morally outrageous outcome. Indymedia Film Night presents a documentary by Award winning investigative journalist Greg Palast looking at the practices of 'Vulture Fund' companies that buy up the debt of poor countries at cheap prices, and then demand payments much higher than the original amount of the debt, often taking poor countries to court when they cannot afford to repay. Greg reports on one company trying to collect $40 million from the government of Zambia after buying its debt for $4 million.

The event is accompanied by a mixture of informative and humorous short films around the issue and a brief talk by third-world debt campaigners.

See the trailer for the film!

http://www.bristol.indymedia.org/
http://www.gregpalast.com/

Official Website: http://microplex.cubecinema.com/cgi-bin/diary/programme.pl#2785