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AMiE
'i' is only little!

Registered: Mar 2005
Posts: 712 - Threads: 81
Location: On A Boat Which Floats Around London

Yesterday, one MP, with one word singlehandedly stopped a bill which would have limited the powers of vulture funds to screw the most vulnerable and indebted countries and their citizens.

MP Christopher Chope singlehandedly and shamefully blocked the Debt Relief (Developing Countries) Bill in the House of Commons from making it on to the statute book yesterday.

This bill would have curbed the powers used in Great (not today it hasn't been) Britain by these debt sharks to screw the world's most vulnerable poorest countries (and all their citizens).

I am disgusted by the actions of this man and feel shame when I think of the human repurcussions of his actions. The enormity and gravity of this single act will be tragic and I feel he will have blood on his hands. It makes me feel powerless and impotent as a citizen, but I want to register my disgust nonetheless. I want to express my solidarity to those that will suffer as a result and say that I am ashamed at this. I hope there will be more than just me and I want our voices to be heard by these politicians and Christopher Chope especially who should listen.

Please spread the word to those who you think will care

http://www.facebook.com/group.php?v=info&ref=ts&gid=391383499852

to see what I'm talking about, have a read of this article:

http://news.bbc.co.uk/1/hi/6362783.stm?lsm

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Old Post14-03-2010 01:26 AM
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Kether
Multiple Initials

Registered: Oct 2008
Posts: 1846 - Threads: 78
Location: London

Disgusting, just when call me Dave was conning the electorate into believing the Tories are no longer the nasty party, one of their MPs does this. It beggars belief.

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Old Post14-03-2010 21:13 PM
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Bungle
Slowly losing my...

Registered: Sep 2002
Posts: 7611 - Threads: 135
Location: Back in the Big Smoke

[Edited by Bungle on 14-03-2010 21:32 PM]

Why is the article from 3 years ago?

Do you know the outcome of the High Court case and if there is now a ruling which makes the practice illegal in the UK anyway?

Edit: The high court ruled that the money had to be paid back.



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Old Post14-03-2010 21:30 PM
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Hitch the Knife
I like bananas because they have no bones

Registered: Jun 2003
Posts: 25513 - Threads: 545
Location: London

Quote:
AMiE wrote on 14-03-2010 01:26 AM

Yesterday, one MP, with one word singlehandedly stopped a bill which would have limited the powers of vulture funds to screw the most vulnerable and indebted countries and their citizens.

MP Christopher Chope singlehandedly and shamefully blocked the Debt Relief (Developing Countries) Bill in the House of Commons from making it on to the statute book yesterday.

This bill would have curbed the powers used in Great (not today it hasn't been) Britain by these debt sharks to screw the world's most vulnerable poorest countries (and all their citizens).

I am disgusted by the actions of this man and feel shame when I think of the human repurcussions of his actions. The enormity and gravity of this single act will be tragic and I feel he will have blood on his hands. It makes me feel powerless and impotent as a citizen, but I want to register my disgust nonetheless. I want to express my solidarity to those that will suffer as a result and say that I am ashamed at this. I hope there will be more than just me and I want our voices to be heard by these politicians and Christopher Chope especially who should listen.

Please spread the word to those who you think will care

http://www.facebook.com/group.php?v=info&ref=ts&gid=391383499852

to see what I'm talking about, have a read of this article:

http://news.bbc.co.uk/1/hi/6362783.stm?lsm



From the Independent on Saturday (13.3.2010)

Quote:

A landmark move to protect the world's poorest countries from debt sharks was blocked yesterday by a single Conservative MP during extraordinary scenes in the House of Commons.

"Vulture fund" investment companies buy up defaulted third world debt and sue for immediate repayment. The Debt Relief (Developing Countries) Bill was designed to curb their activities, ensuring that creditors cannot pursue debt repayment beyond the level assessed as fair and sustainable by the World Bank. Liberia lost a £20m lawsuit against two vulture funds in a London court late last year.

Because of the lack of time before the general election, the Bill's only chance of making it on to the statute book was if there were no protests in the Commons. But to the fury of Labour MPs, one lone voice piped up: "Object!" Three Conservatives were in the chamber – Christopher Chope, Andrew Robathan and Simon Burns – but it was not clear at the time who had intervened.



http://www.independent.co.uk/news/uk/politics/tory-mp-blocks-bill-targeting-vulture-funds-1920708.html

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Old Post14-03-2010 21:47 PM
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