June, 13 2014, 03:48pm EDT
For Immediate Release
Contact:
Contact: Hannah Shultz, Communications Director
hannah@jubileeusa.org / (o) (202) 783-3566 x101 (m) (319) 541-7357
While Argentina Team Prepares to Face Bosnia, Government Fights Hedge Funds at US Supreme Court
WASHINGTON
While Argentina prepares to face Bosnia Sunday in the first round of the World Cup, the South American soccer power faces a second major contest in a very different venue. The United States Supreme Court will announce in June if it will hear Argentina vs NML Capital that impacts the operation of the global financial system. The Financial Times has called the case the "Debt Trial of the Century."
"If Argentina loses at the Supreme Court, not even the great Lionel Messi will be able to reverse the damage," said Eric LeCompte, Executive Director of Jubilee USA, a religious anti-poverty organization. "The stakes are high in this World Cup of debt and Argentina fans are watching the US Supreme Court as much as they are watching Brazil."
The case dates back to Argentina's 2001 default. While nearly 93% of the country's creditors agreed to a deal with Argentina to restructure its debts, a small group of hold-outs refused the deal and sued. This group included hedge funds that specialize in purchasing the distressed debt of impoverished countries and then suing to claim assets freed up to support poor populations through debt relief. Because these funds purchase debt for pennies on the dollar and then litigate to collect when a country is making a recovery or has assets from debt relief earmarked for the poor, these hedge funds are popularly referred to as "vulture funds."
"Argentina has a much bigger problem than anything it will face in Group F," added LeCompte, who works on four United Nations expert panels on debt and human rights. "These predatory hedge funds threaten to throw Argentina into default."
This week, a delegation of Argentine lawmakers arrived in Washington to thank the Obama Administration and US government for their support. In an allusion to the World Cup, Argentine Lower House Speaker Julian Dominguez presented US Congressman Xavier Becerra with a Lionel Messi jersey.
Numerous countries participating in the soccer tournament have connections to the Argentina/hedge fund dispute. France, Mexico, Brazil and the United States have filed briefs on behalf of Argentina at either the Supreme Court or the appeals court level. Ghana temporarily seized an Argentine ship for the hedge funds then released it after an order from the supreme court of Ghana. German courts have ruled in Argentina's favor in related lawsuits and Belgium and the United Kingdom have passed laws restricting these hedge funds. Honduras and Cameroon are among the countries that have been sued by these types of hedge funds. Representing 79 US Religious and Development organizations, Jubilee USA filed to the Supreme Court urging it to take the case because a court precedent will impact people living in extreme poverty.
"The Supreme Court's decision could equip predatory funds with a precedent that traps countries in poverty," added LeCompte. "There are two things most of the world agrees on, soccer is fun and exploiting poor people for profit is wrong."
Jubilee USA Network is an interfaith, non-profit alliance of religious, development and advocacy organizations. We are 75 U.S. institutions and more than 750 faith groups working across the United States and around the globe. We address the structural causes of poverty and inequality in our communities and countries around the world.
(202) 783-3566LATEST NEWS
UN Panel Says IDF Appears Set on 'Physical Destruction of Palestinian Children'
"Children in Gaza can no longer wait, as each passing minute risks another child dying of hunger as the world looks on," said the United Nations Committee on the Rights of the Child.
Mar 22, 2024
A United Nations panel said Thursday that the Israeli military's siege of Gaza appears "calculated to bring about the physical destruction of Palestinian children," pointing to the growing number of kids starving to death as Israel obstructs the delivery of humanitarian aid.
"They are cut off from food, even crumbs are not easy to find," the U.N. Committee on the Rights of the Child said in a statement. "A little girl wept in front of the BBC's camera, crying, 'I miss bread.' The occupying power has blocked or severely restricted food and other life-essential supplies and aid."
At least 27 children have died of malnutrition or dehydration in recent weeks, a toll that the U.N. panel said is "likely to be significantly higher" and is "set to rise" as Israel's blockade and attacks on aid convoys continue. An alarming analysis released earlier this week by the Integrated Food Security Phase Classification found that Gaza's entire population—roughly half of which is children—is "facing high levels of acute food insecurity."
"Children in Gaza can no longer wait, as each passing minute risks another child dying of hunger as the world looks on," the U.N. committee said.
Children are also at high risk from ongoing Israeli bombings, which have inflicted immense physical and psychological suffering on Gaza's children. Israel's military has killed more than 13,000 children in the territory since October 7, a figure that the United Nations Children's Fund (UNICEF) called "astronomically horrifying." Save the Children estimated that between October and January, an average of more than 10 children per day in Gaza lost one or both of their legs due to Israeli attacks.
"I think these numbers that we're seeing out of Gaza are just staggering," Catherine Russell, UNICEF's executive director, said earlier this week. "We haven't seen that rate of death among children in almost any other conflict in the world."
The UN Committee on the Rights of the Child #UNCRC delivers its strongest statement. Gaza: Halt the war now to save children from dying of imminent famine. #childrensrights @lexpsy pic.twitter.com/uXHtxonlVz
— UNChildRights (@UNChildRights1) March 21, 2024
The U.N. panel on children's rights called attention to the International Court of Justice's (ICJ) January ruling ordering the Israeli government to "enable the provision" of humanitarian aid and do everything in its power to prevent acts of genocide—directives that Israel has been accused of systematically violating.
"Since the ICJ order on 26 January, and as of 19 March, an average of over 108 Palestinians have been killed and another 178 injured every day in Gaza, and children are amongst them," the committee said Thursday. "The looming invasion of Rafah will take the fragile situation to the breaking point, putting the lives of 600,000 children at immediate risk, and will rapidly reach the tipping point of famine."
"While reiterating its calls for the remaining children held hostage to be released immediately," the panel added, "the committee also calls on all parties, including the General Assembly and the Security Council, for an immediate humanitarian cease-fire to protect hundreds of thousands of innocent children's lives."
The statement came as the United States, Israel's chief arms supplier, proposed a draft U.N. Security Council resolution declaring that an "immediate cease-fire" is "imperative." The U.S. has repeatedly stonewalled and vetoed cease-fire resolutions at the Security Council in recent months even as its top officials, including President Joe Biden, have expressed concerns about the grisly civilian death toll in Gaza.
In a scathing op-ed for The Guardian on Thursday, U.N. Special Rapporteur on Human Rights Defenders Mary Lawlor wrote that "the international human rights architecture is creaking under the weight of the hypocrisy of countries who profess support for a rules-based order yet continue to provide weapons to Israel that kill more innocent Palestinians."
"There exist no moral arguments," wrote Lawlor, "that can justify the continued sale of weapons to Israel by states that respect the principle of the universality of human rights."
Keep ReadingShow Less
'Everyone in the World Needs to See This': Footage Shows IDF Drone Killing Gazans
"There is no way they could have been considered combatants," said one writer and analyst. "This is unreal."
Mar 21, 2024
Adding to the mountain of evidence that Israel is engaged in a genocidal war on the Gaza Strip, Al Jazeera on Thursday aired footage of what the news outlet reported was an Israeli drone targeting four Palestinians in Khan Younis last month.
Those killed by the unmanned aerial vehicle in the rubble of the southern Gaza city appear to be unarmed teenagers or young men. According to a translation of the coverage, they were not identified in the reporting.
While Al Jazeera deemed footage "too graphic" to be included on its daily live blog covering the war, a clip of it quickly spread on social media, where critics of the Israel Defense Forces operation expressed outrage.
"OUTRAGEOUS even after months of outrages," declared Palestinian American political analyst Yousef Munayyer. "This video shows an Israeli military drone literally stalking four unarmed civilians posing no threat and eliminating them one after the other!!!"
Tariq Kenney-Shawa, Al-Shabaka's U.S. policy fellow, said: "This is among the worst footage I've seen. Not only were these boys clearly unarmed and present no threat whatsoever, but they were struck multiple times even after stumbling/crawling away. There is no way they could have been considered combatants. This is unreal."
Note: The following video contains graphic images.
Assal Rad, an author with a Ph.D. in Middle East history, said: "Have we ever seen so many war crimes take place right before our eyes? Any country still providing weapons and aid to Israel is complicit in these crimes."
Exiled American whistleblower Edward Snowden asserted that "everyone in the world needs to see this. Note that this footage permits no room for 'it was a mistake,' showing repeated, specifically targeted strikes on the unarmed and even wounded."
"The sort of behavior the ICJ explicitly forbid in the genocide ruling against Israel," added Snowden, referencing the International Court of Justice's preliminary order in January for an ongoing case led by South Africa.
Since the ruling, rights groups around the world have accused Israel of ignoring the ICJ order by continuing to bomb and starve people across Gaza. The mounting casualties—at least 31,988 killed and 74,188 wounded—have elevated demands for the U.S. government to end arms transfers to Israel.
The United States gives its Middle East ally $3.8 billion in annual military aid and since the Israeli assault was launched in retaliation for a Hamas-led attack on October 7, the Biden administration has sought $14.3 billion more while bypassing Congress to send more weapons. U.S. President Joe Biden, Secretary of State Antony Blinken, and Secretary of Defense Lloyd Austin face a genocide complicity case in federal court.
While the Biden administration has repeatedly vetoed and opposed cease-fire resolutions at the United Nations Security Council and General Assembly, Nate Evans, a spokesperson for Linda Thomas-Greenfield, the U.S. ambassador to the U.N., confirmed Thursday that the United States plans to unveil a new one on Friday.
The resolution will "unequivocally support ongoing diplomatic efforts aimed at securing an immediate cease-fire in Gaza as part of a hostage deal, which would get hostages released and help enable a surge in humanitarian aid," Evans told Al Jazeera. "This resolution is an opportunity for the council to speak with one voice to support the diplomacy happening on the ground and pressure Hamas to accept the deal on the table."
Blinken said Thursday that "there's a clear consensus around a number of shared priorities. First, the need for an immediate, sustained cease-fire, with the release of hostages. That would create space to surge more humanitarian assistance, to relieve the suffering of many people, and to build something more enduring."
Keep ReadingShow Less
New CDC Data Reveals 'National Embarrassment' of For-Profit Healthcare
"Our leaders must act to kick insurance companies to the curb and enact Medicare for All now," said one advocate.
Mar 21, 2024
Single-payer advocates on Thursday pointed to new federal life expectancy data—which shows Americans live shorter lives than people in any other major most-developed nation—as the latest proof of the need to enact a Medicare for All-type universal healthcare program.
According to the Centers for Disease Control and Prevention (CDC), U.S. life expectancy was 77.5 years in 2022, an increase of 1.1 years from the previous year. The leading U.S. causes of death in 2022 were heart disease, cancer, unintentional injuries, and Covid-19.
The 2022 figures reversed two consecutive years of declining U.S. life expectancy, largely due to Covid-19, which has killed nearly 1.2 million people in the country. However, U.S. life expectancy in 2022 was still below its pre-pandemic high of 78.8 years in 2019.
"Despite spending the most per capita on healthcare, we have a consistently lower life expectancy than our peers in comparably wealthy countries."
"While it is good news that U.S. life expectancy is finally rising again, it is important to remember that despite spending the most per capita on healthcare, we have a consistently lower life expectancy than our peers in comparably wealthy countries with universal healthcare," said Eagan Kemp, the healthcare policy advocate at Public Citizen.
The United States is the only developed nation in the world without guaranteed universal healthcare.
"We must keep making the point that profit-driven healthcare is not only worse for patients—it's a national embarrassment," Kemp added. "Our leaders must act to kick insurance companies to the curb and enact Medicare for All now."
One 2022 study found that more than 338,000 U.S. Covid-19 deaths could have been prevented if the country had a single-payer universal healthcare system like Medicare for All.
While opponents—including U.S. lawmakers who take substantial donations from the for-profit healthcare and insurance industry—often argue that Medicare for All would be too expensive, a 2020 Congressional Budget Office analysis found that such a program would save between $300 billion and $650 billion annually.
The same study found that approximately 68,000 people die each year in the United States because they lack access to healthcare.
Meanwhile, millions of American families face bankruptcy and financial ruin due to healthcare expenses, as the CEOs of 300 major U.S. healthcare companies made $4.5 billion in collective compensation in 2022.
The United States has the lowest life expectancy of any large rich country while spending far more on healthcare than comparable nations. Figures vary by source and year, but according to the 2023 edition of the CIA Factbook, the U.S. ranked 48th in worldwide life expectancy, while 2021 World Bank figures place the U.S. in 59th place globally, between Algeria and Panama.
U.S. Sen. Bernie Sanders (I-Vt.) and Congressional Progressive Caucus Chair Pramila Jayapal (D-Wash.) last year led more than 120 lawmakers in reintroducing bicameral Medicare for All legislation.
"There is a solution to this health crisis—a popular one that guarantees healthcare to every person as a human right and finally puts people over profits and care over corporations," Jayapal said at the time. "That solution is Medicare for All—everyone in, nobody out."
Keep ReadingShow Less
Most Popular