Things got a bit quiet here at People For Economic Justice, thanks to the enormous amount of work required in Ben Gilroy’s campaign in the East Meath By-Election. Today however, we would like to introduce you to Mr Tepper. David Tepper is a hedge-fund manager who buys up the debt of companies and countries, particularly when they are in financial difficulties, and then trades them on for profit. The below is an interview Mr. Tepper had about an “incredible month” he had, dealing with the Bank of Ireland, the Irish Government, and by extension, the Irish People.
More after the video.
So there you have it. Having purchased a raft of unsecured subordinated bonds from the Bank of Ireland, Mr Tepper did not think it fair that the Bank of Ireland wanted to reduce the value of those bonds to a fair (read “market driven”) price. Mr Tepper decided that he would threaten to flex his legal muscles and sue the Bank of Ireland, and the Irish Government. This man is one of the Bondholders that our current Government promised to burn upon entry into power. This is one of the men who made billions at the expense of we the people.
One has to recognize that the very worst aspect of this video is the smug grin on Mr Tepper’s face as he gloats over his victory over our push-over Government and our push-over Bank.
At least we have a pretty decent song by Mick Blake to console us, but you would have to hope that something like this might just stir up a bit of anger amongst the currently sleeping Irish public. Please share this video far and wide, via whatever means you can. You can catch a few glimpses of the lavish mansion he treated himself to on the back of our Governments decision during the song.