Who is Paul Singer?
- Bob FertikWant to meet our members? Click 'Join' above!
Whether it was $2,010 at the Greenbrier Hotel in West Virginia, $4,034 at La Costa Resort and Spa in Carlsbad, Calif., or $5,370 at the Fairmont Hotel in San Francisco, the former mayor found himself top-notch lodging.
He also spent more than $565,000 reimbursing various corporate supporters for private jet travel.
The biggest chunk of those flights came via Elliott Asset Management, a New York hedge fund known by some as a "vulture fund," so-named because they buy debt cheaply from cash-starved countries, and then sue them for the full repayment. The head of the firm, Paul Singer, is in charge of Northeastern fundraising for Giuliani.
Singer is credited with raising $500K so far, making him Rudy's largest fundraiser, and he pledged to raise $10M. In August, he graduated from fundraising to policy as Rudy's "Senior Policy Adviser." According to the NY Daily News, Singer joined Rudy's Middle East Task Force, home of Mussolini's neocon warmongers including Norman Podhoretz, who is praying for war with Iran.
Paul Singer made news in September when he admitted to providing all of the funds ($175,000) to put a referendum on the California ballot to divide the state's 55 Electors according to Congressional Districts, which would give the GOP 20 Electors that would otherwise go to the Democrat - roughly the size of Ohio or Pennsylvania. When Singer's role was exposed, the staff all quit and the effort went on hold - presumably until Singer finds a less-traceable way to launder his money.
So who is Paul Singer? A vulture who eats the flesh of the world's poorest people.
Singer is generally known as the original 'vulture' of the for-profit so-called 'vulture funds', which buy government bonds from poor countries and demand an exorbitant return on their loans. In 1996, Singer bought up some of the debt of Peru for $11 million and got back $58 million. He purchased a bond from the Democratic Republic of Congo for about $10 million, sued in court for $400 million and ended up with $127 million... His estimated personal net worth is $700 million.
Besides being a vulture, Singer may also be a vampire, which would explain why it's hard to find a photo - as everyone knows, vampires can't be photographed.
Singer's flesheating requires the help of the President, as Greg Palast explains:
Palast explained the vulture business to Randi Rhodes in June:
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.
Bush convinced the US Congress to forgive the money Congo owes the US taxpayer, but once the US taxpayer forgives Congo’s debt, the vulture, Singer, swoops in with lawyers to claim, “Congo now has the money to pay ME.”
But wait a minute - the debt money given up by US taxpayers wasn’t supposed to go to Rudy’s predator Singer. In fact, the US Constitution provides power to the President to stop vultures from suing a foreign country in a US court if the President states such a private lawsuit interferes with America’s foreign policy.
Singer, by suing Congo for the taxpayer money meant for debt relief and medicine, is interfering with US foreign policy. Yet Bush has done nothing.
Singer is an up-and-coming GOP funder. He gave just $5K to the Swift Boaters in 2004, compared to millions from Bob Perry, the Houston homebuilding magnate who also put his money behind George Bush's smear campaign against John McCain in the 2000 primaries. Apparently Singer wants to be Rudy's Perry, using his vast wealth to manipulate the political system without getting Rudy's hands dirty.
And with $700 million in his pocket, Singer can do a lot to steal the 2008 election, as he tried to do in California - so we'll need to keep a very close eye on him.
Update 1: Here are Singer's federal campaign contributions courtesy of OpenSecrets.org.
|6/8/2007||$2,300||Miller, Candice S|
|3/16/2007||$200||Giuliani, Rudolph W|
|3/13/2007||$2,300||Giuliani, Rudolph W|
|2/21/2007||$2,000||Sununu, John E|
|2/5/2007||$2,100||Giuliani, Rudolph W|
|1/12/2007||$25,000||Republican National Cmte|
|10/31/2006||$5,000||Republican Party of Ohio|
|10/13/2006||$5,000||New Hampshire Republican State Cmte|
|10/6/2006||$10,000||Republican Party of Florida|
|5/15/2006||$1,000||Talent, James M|
|5/1/2006||$500||Restore America PAC|
|3/31/2006||$900||Kean, Thomas H Jr|
|3/31/2006||$1,100||Kean, Thomas H Jr|
|3/23/2006||$1,000||Kean, Thomas H Jr|
|1/31/2006||$25,000||National Republican Senatorial Cmte|
|12/16/2005||$1,000||Snowe, Olympia J|
|8/9/2005||$500||Talent, James M|
|5/23/2005||$2,000||Talent, James M|
|4/8/2005||$25,000||National Republican Senatorial Cmte|
|10/20/2004||$500||National Auto Dealers Assn|
|5/18/2004||$2,000||Nethercutt, George R Jr|
|2/9/2004||$17,500||National Republican Senatorial Cmte|
|2/6/2004||$1,000||Bennett, Robert F|
Update 2: here is the rest of Mussolini's finance team.