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The Public Accountability Initiative is the place to go to follow the money. The team that produces these reports is called “Little Sis,” the opposite of Big Brother. Little Sis recently posted an eye-opening analysis of the funders of Teach for America.
This post identifies the Hedge funders who hold large amounts of Puerto Rico’s debt and are demanding a reduction in pensions and public services (especially public schools). It also details how people can fight back.
Time is running out for retirees in Puerto Rico in the struggle to preserve their pensions: the Financial Oversight and Management Board has proposed cuts that would take effect July 1, 2019.1 If those cuts go through, around 167,000 families will be affected immediately in this new attack against Puerto Ricans’ living conditions.2 Vulture funds, on the other hand, stand to rake in millions in profits at the expense of the suffering of thousands.
Rather than helping retirees take care of their families, the pension cuts will instead channel the money to hedge fund billionaires to pay for their extravagant lifestyles.
But retirees can still fight back by mobilizing against the upcoming debt deal, pressing the legislature to vote against the bill allowing the restructuring, voting against the debt adjustment plan, and pressuring judge Laura Taylor Swain to not approve the plan.