Don’t feed the vulture funds?
Sir, – Ross Maguire (“Vulture funds are part of the solution, not the problem”, Opinion & Analysis, May 12th) goes to great lengths to outline the protections people in debt have against vulture funds. What about the rest of us? These funds have paid taxes in the low thousands on profits in the millions. Some have been classed as charities in order to do this. This means less government funding for health, education and social support and ultimately the rest of us paying more. It can be argued that this massive tax avoidance undermines democracy.
Despite Mr Maguire’s protestations against emotionalism and sentimentality these funds are aptly described as vultures. The word “chicken” also applies to those funds as they hide behind bad law. – Yours, etc,