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With all due respect, these arguments belie the law. If this were a case of leders screwing over the people by having governments re-write laws (see: student l
by 001sky 12y ago
With all due respect, these arguments belie the law.
If this were a case of leders screwing over the people by having governments re-write laws (see: student loans) perhaps more sympathy would be in order.
This is a case where the borrowers have tried to disregard US law, in its entirety.
In that respect, I'm not sure there is anything bad to imply about the hedge funds who simply made bets on the integrity of US Law.
The president of Argentina obviously has her own view and interest at stake, as well.
- acqq 12y agoYou're wrong. Elliott didn't give Argentina anything that it wants returned. The company just waited for the moment to buy bonds for almost nothing from the real creditors with the bet "if we get it on court, we win big, if we lose, we lose a little." From the same article: "Legal filings indicate that the face value of its Argentine government bonds was around $170 million, but the firm most likely acquired many of them for much less than that. Elliott and other investors are now seeking more than $1.5 billion, which includes years of unpaid interest." Elliott just blackmails Argentina to extract many times more than it would otherwise be reasonable (without the blackmail condition).
- deleted 12y ago[deleted]