Vulture funds... face having their wings clipped
Flush with their success in shepherding the global economy in recent years, the planet’s munificent politicians are anxious to spread their wings and treat yet more arenas of human endeavour to their undoubted magnificence.
Hedge funds and private equity are both set to benefit from “improved” regulation, courtesy of the searing insights of our political masters, and now it appears politicians in both the US and UK are anxious to clip the wings of vulture funds.
For the uninitiated, these vehicles specialise in buying up the sovereign debt of impoverished or recalcitrant developing nations that have defaulted, or are perceived to be likely to do so, at a chunky discount to face value.
