As Fire Victims Languish, Hedge Funds Cash out Billions in PG&E Stock
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Show Notes
As fire survivors await compensation from PG&E for wildfires sparked by their equipment, hedge funds grossed at least $2 billion by getting rid of PG&E stock bought under the bankruptcy deal last year. That’s according to a new KQED/California Newsroom analysis. The hedge fund stock dump lowered PG&E's share price, and that’s affecting fire survivors’ compensation and resulting in higher prices for the utility’s ratepayers, who already pay 80% more for power than the U.S average. We get the details.
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