Argentine Economy

[Gandolf50]

It's not like Paul Singer's hedge fund actually helped Argentina by buying their bonds, and is just trying to get paid back. No, it bought defaulted bonds, dirt cheap. And is now insisting on full payment of the huge profits from those bonds, plus interest, regardless of any consequences.

The collateral damage may now potentially include Citibank, which could lose their Argentina banking license if it complies with the order of US Judge Griesa (whose rulings are helping Singer). Citigroup has appealed Griesa's order, saying he abused his discretion in blocking payments from Argentina.

This is not to mention the negative effect all of this is likely to have on future US-Argentina collaborations and investments, basically driving Argentina to instead make deals with China.

It appears Paul Singer will go to any length to collect his profits, and (in his view) damned be any adverse consequence for the people of Argentina, the other bondholders, the banks, and other US investors.

While what you say is true, Argentina in the Form of its wondrous president Cristina feels that they are not obligated to pay ANYONE what they are really owed. But at the same time they want to borrow more money. Griesa and I assume the New York legal system is sick and tired of Argentina's shenanigans and would like nothing more then to see it all go away. No one is interested in cutting them any slack since their only interest is to rob and defraud. Singers group took a chance. One that might never pay off. Cristina is only making interest payments with huge sums that are due in the future when she will not be in the hot seat. And as I have pointed out before Cristina and Singer are both Vultures, but Singer has his house in order. Cristinas house is a disaster!

[Tres3]

More on Argentina's debt debacle.

http://finance.yahoo.com/news/holdou...7--sector.html

Tres3.

[Esten]

It's not like Paul Singer's hedge fund actually helped Argentina by buying their bonds, and is just trying to get paid back. No, it bought defaulted bonds, dirt cheap. And is now insisting on full payment of the huge profits from those bonds, plus interest, regardless of any consequences.

The collateral damage may now potentially include Citibank, which could lose their Argentina banking license if it complies with the order of US Judge Griesa (whose rulings are helping Singer). Citigroup has appealed Griesa's order, saying he abused his discretion in blocking payments from Argentina.

This is not to mention the negative effect all of this is likely to have on future US-Argentina collaborations and investments, basically driving Argentina to instead make deals with China.

It appears Paul Singer will go to any length to collect his profits, and (in his view) damned be any adverse consequence for the people of Argentina, the other bondholders, the banks, and other US investors.

[Rev BS]

The funny thing here is that both Cristina and Nestor started out as "vultures". They would buy overdue mortgages for pennies, evict the people and then resell or rent the properties. They still own (according to their own disclosure they file every year) 28 of these property's. How is this so different from Elliot Singer and friends?

Irritating, smelly, dirty, noisy, menacing, prone to fly in & swipe, etc. Yes, no difference.

[Daddy Rulz]

Maybe they are that stupid or are just delaying the payment. With a US gun to the head of each creditor, that scenario isn't going to happen.

13.6 today and rising.

[Gandolf50]

they are that stupid

That says it ALL!

[Dccpa]

It looks as if Cristina and her cohorts have given up all hope on the rest of the world and are concentrating on Argentine politics.

http://finance.yahoo.com/news/argent...175544375.html

Tres3.

Maybe they are that stupid or are just delaying the payment. With a US gun to the head of each creditor, that scenario isn't going to happen.

[Tres3]

It looks as if Cristina and her cohorts have given up all hope on the rest of the world and are concentrating on Argentine politics.

http://finance.yahoo.com/news/argent...175544375.html

Tres3.

[Tres3]

More on Argentina's default and the roles Cristina and her late husband played.

http://www.businessinsider.com/singe...r-funds-2014-8

Tres3.

[Tres3]

I guess that the government has decided that they have nothing to lose.

http://www.bloomberg.com/news/2014-0...tml?cmpid=yhoo

Tres3.

[Gandolf50]

The funny thing here is that both Cristina and Nestor started out as "vultures". They would buy overdue mortgages for pennies, evict the people and then resell or rent the properties. They still own (according to their own disclosure they file every year) 28 of these property's. How is this so different from Elliot Singer and friends?

[Tres3]

It looks as if Cristina is attempting to get as much political mileage, and distraction, as she can while the topic is still hot.

http://finance.yahoo.com/news/argent...012827317.html

Tres3.

[Tres3]

It looks as if Argentina has given up all hope of a settlement favorable to them (the dream world scenario), so now they have decided to shit in their mess kit.

http://finance.yahoo.com/news/argent...135559467.html

Tres3.

[Gandolf50]

This is becoming Cristina's salvation. All of her economic disasters can now be blamed on the "Vultures". She and all the thieves from the FPV can point their fingers and say "Its not our fault! This is her "Malvinas"! Whats worse is that most of the country believe or want to believe this is true. I predict that another FPV candidate wins next years presidential election. I think even Evita would be crying if she could see this mess the country is in!

[Tres3]

Draw your own conclusions from this link.

http://www.reuters.com/article/2014/...0GD1A920140813

Tres3.