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June 10, 2008
Vulture returning to form?
If anyone should start a vulture fund, it is disgraced NY Governor Eliot Spitzer who tormeneted and picked over the bones of many successful executives in order to advance his political career. Ever an opportunist, he will be natural to head a Vulture fund-which seeks to "invest" in distressed companies.
Of course, vulture funds have also been known to engage in tactics that drive down the value of securities in these target companies. The New York Sun covers the story.