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Alternative Market Briefing

Charity supported by hedge fund industry, ALTSO, focuses on raising support for children in Haiti

Thursday, January 14, 2010

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From the Opalesque team:

A Leg To Stand On (ALTSO), one of the many charities supported by the hedge fund industry announced on Wednesday efforts to raise additional funds to be focused on providing critical support to children wounded in the Haiti earthquake.

Formed by New York-based Octagon Asset Management’s founder and CEO Mead Welles along with arthroscopic surgery pioneer Dr. Dinesh G. Patel, MD, FACS, ALTSO works to transform the lives of children with limb disabilities in developing countries. Since 2006 the charity has had a presence in Haiti, working as a partner to Healing Hands for Haiti, an organization that works to expand quality rehabilitation services for the physically disabled.

Early estimates of death tolls from the initial earthquake have been estimated anywhere from 100,000 to 500,000. The UN Dispatch Report said “Haitians now face a daunting set of health challenges, including typhoid, dengue fever, malaria, and getting treatment for serious injuries.”

Two evenings after the earthquake, first response aid from neighboring countries, including the United States is only now mobilizing. On the ground, reporters from NBC News who spent time assessing the situation earlier in the day said that as of Wednesday evening there were no signs of relief workers. Additionally, once aid arrives at the ports, there could be additional delays in reaching the populace on roads not designed for large or heavy trucks.

Beyond the dire initial......................

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