Hedge Funds Securitize Stalled Federal Tariff Refunds For Instant Yield #
One hundred and sixty-six billion dollars in invalidated federal tariff collections sits frozen within the accounts of the United States Treasury. As Washington struggles to launch its Consolidated Administration and Processing of Entries portal by April 20, distressed debt buyers are moving in. The administrative paralysis of the state has officially become a tradable asset class. In a glass-walled conference room overlooking the East River, Seaport Global managing director Wes Harrell examines a $12 million claim from a bankrupt importer.…