From US Subprime to London Prime
Shadow Bankers in London
by Nicholas Hildyard
first published 1 October 2012
In June 2010, the London Mining Network and The Corner House organized a "Hedge Fund Tour" through London's tony Mayfair district, home of many of the private financial institutions at the heart of the wave of dispossessions that followed in the wake of the 2008 crisis.
This illustrated talk introduces us to some of the stars of the movement that has so spectacularly redistributed wealth from poor to rich over the past few years, including John Paulson of Paulson and Co. and David Tepper of Appaloosa, and describes how hedge funds, private equity firms, exchange traded funds and other "shadow banks" are at the forefront of the promotion of hunger worldwide.