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The bond indenture kinda disagrees with your whole premise here.
by whatok 9y ago
The bond indenture kinda disagrees with your whole premise here.
- Retric 9y agoSuppose, I buy a bond at 5% interest over 1 year and it defaults after making most of the payments. If I effectively only get 1% interest the IRS says I still owe taxes on that 1% as profit.
- whatok 9y agoI don't understand what that has to do with your original premise.
- Retric 9y agoProfit and loss should be calculated from the actual investment not what you should get on paper.
- aoeusnth1 9y agoJust because Goldman Sachs would make an amazing profit if Venezuela actually made good on their debt doesn't mean they don't own Venezuela debt, right? "Goldman Sachs has not and is not lending Venezuela any money" is patently false.
- Retric 9y agoGS is buying debt that someone else had. That other group loaned Venezuela money and is now selling the debt at a discount. Critically if GS did not buy the debt Venezuela would have exactly the same money and exactly the same obligations so the fact GS 'owns' the debt or bob the accountant owns the debt is only important in so far as GS can apply more pressure.