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Paul E. Singer

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Paul E. Singer, a former corporate lawyer, is "the founding partner of Elliott Associates, a $7 billion hedge fund with a conservative, risk-averse bias that has been in business since 1977, making it one of the oldest funds around. A reserved, private man who would answer questions only via e-mail, Mr. Singer is a self-described conservative libertarian who has given millions of dollars to Republican organizations that emphasize a strong military and support Israel." [1]

Singer is a member of the Board of Trustees of the neo-conservative think tank the Manhattan Institute for Policy Research;[2] a "member of the boards of the Jewish Institute for National Security Affairs and of Commentary Magazine, and is on the Board of Advisors of the James Madison Program in American Ideals and Institutions at Princeton University", and a member of the Board of Fellows of Harvard Medical School.[3]


Funding right-wingers and Swift Boaters

Recipients of Singer's contributions "include Progress for America ($1.5 million in contributions), a political advocacy group set up to advance the policies of the Bush administration; Swift Vets and P.O.W.’s for Truth; and the Jewish Institute for National Security Affairs, which includes Vice President Dick Cheney and Richard N. Perle, an adviser to the former Defense Secretary Donald H. Rumsfeld, among its past and current advisory directors."[1]

Backing Politicians and Organizations

In the 2004 election cycle, Singer was a "Pioneer" bundler for George W. Bush, raising at least $100,000 to earn that status.[4]

In the 2008 election cycle, Singer is a bundler for Rudy Giuliani and has "pledged to raise at least $500,000.00" for 2008 Republican presidential hopeful Rudy Giuliani.[4][5]

Singer is the Eastern Regional Finance Chairman[3] and "a primary fund-raiser and policy adviser".[1]

In the 2005-2006 election cycle, Singer contributed $25,000.00 towards the establishment of the Republican national lobbying front group Vets for Freedom Action Fund.[6]

Debt Manipulation

Investigative Journalist Greg Palast uncovered debt manipulation by Singer, who he deems "Vulture Singer." Palast writes that Singer's "modus operandi" is to find some forgotten tiny debt owed by a very poor nation (Peru and Congo are given as examples). Singer then waits for the US and European taxpayers to forgive the poor nations' debts; as well as offers of food aid, medicine and investment loans. At this point Singer grabs at every resource and all the money going to the desperate country. Palast writes that trade stops, funds freeze and an entire economy is effectively held hostage. Singer then demands aid-giving nations pay monstrous ransoms to let trade resume. Singer demanded $400 million dollars from the Congo for a debt he picked up for less than $10 million. Palast writes that if Singer doesn't get his 4,000% profit, he can effectively starve the nation. In Congo-Brazzaville last year, one-fourth of all deaths of children under five were caused by malnutrition. [7] [8]

Connections to Koch

Singer was acknowledged at the privately held Koch seminar in June 2011 in Vail, Colorado for donating at least $1 million to Koch-related causes. [9]

Profiles

Singer is a member of the Publication Committee for City Journal.[10]

Singer graduated from the University of Rochester (N.Y.) and Harvard Law School.[1]

Resources

Related SourceWatch articles

References

  1. 1.0 1.1 1.2 1.3 Landon Thomas, "Hedge Fund Chiefs, With Cash, Join Political Fray," New York Times, January 25, 2007; StarNewsOnline (N.C.), January 25, 2007.
  2. Trustees, Manhattan Institute for Policy Research.
  3. 3.0 3.1 "Giuliani Campaign Announces Growing Finance Team," Newsbull.com, April 16, 2007.
  4. 4.0 4.1 Bundler: Paul E. Singer, WhiteHouseforSale.org.
  5. Chris Cillizza, "Rudy's Money Bundlers," The Fix Blog/Washington Post, June 11, 2007.
  6. Form 8872: Political Organization Report of Contributions and Expenditures: Vets for Freedom Action Fund, July 25-September 30, 2006; filed October 16, 2006.
  7. Greg Palast [1], Greg Palast, October 5, 2011
  8. Amy Goodman Reporter Greg Palast Exposes How U.S. “Vulture” Funds Make Millions By Exploiting African Nations, Democracy Now!, November 22, 2011
  9. Gavin Aronsen, Exclusive: The Koch Brothers' Million-Dollar Donor Club, Mother Jones, September 6, 2011
  10. About, City-Journal.org.

External articles

External resources