Firms like Tilden Park Capital, Citigroup, Santander Bank, and others are profiting from Puerto Rico’s Hurricane María relief efforts as well as from austerity measures, according to a new report by Hedge Clippers, a coalition described as “whistleblowers of the working class.”
The report titled, “Pain and Profit After Maria: Companies Taking Puerto Rico by $torm,” states: “these investors continue to be the main beneficiaries of fiscal policies pushed by Puerto Rico’s Governor Ricardo Rosselló and by the unelected federal Fiscal Control Board.”
The companies listed in the report are:
- Tilden Park Capital
- Oaktree Capital Management
- Autonomy Capital
- Baupost Group
- GoldenTree Asset Management
- Paulson & Co.
- Santander Bank
- Adjusters International
Of these, two firms stand out: Tilden Park Capital and Golden Tree Asset Management. According to the report, both went on a “bond shopping spree” after Hurricane María.
“Firms like Citi Group responsible in part for originating the debt crisis are now advising the fiscal control board on privatization efforts of PREPA [Puerto Rico Electric Power Company],” the report states.
You can read the entire report, which was released Tuesday, here:
Amanda Alcantara the Digital Editor for Futuro Media. She tweets from @YoSoy_Amanda.