Vulture fund companies buy up the debt of poor countries at cheap prices, and then demand payments much higher than the original amount of the debt, often taking poor countries to court when they cannot afford to repay. Investigative journalist Greg Palast reports on one company that has won the right to collect $20 million from the government of Zambia after buying its debt for $4 million. In his recent State of the Union address, President Bush declared the United States was taking on the challenges of global hunger, poverty and disease, and urged support for debt relief, which he called the best hope for eliminating poverty. Big Noise joined Greg's team to shoot and edit this piece.

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Greg Palast. Investigative reporter for the BBC on this story is author of the books Armed Madhouse, The Best Democracy Money Can Buy and Democracy and Regulation.
www.GregPalast.com
The BBC Newsnight report was produced by Meirion Jones, BBC London; Big Noise, videographer/editor. Investigative research by Matt Pascarella, New York.

Available on Dispatches Vol.1