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Montevideo, November 18th 2018 - 21:36 UTC

Federal Judge Griesa who presided over Argentina's dispute with hedge funds, has died

Wednesday, December 27th 2017 - 11:02 UTC
Full article 30 comments

A New York federal judge who drew the ire of Argentine government officials in a long-running case over Argentina’s debts has died. Judge Thomas P. Griesa was 87, and spent 45 years on the federal bench. Read full article

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  • British_Kirchnerist

    “He was particularly proud that he and the other judges with whom he has served have been assiduously non-political.”

    I know these statements have to accentuate the positive but that's a flat lie as far as Argentina is concerned. His legacy until it is overturned hopefully at the earliest possible opportunity is establishing in legal precedent the priority of billionaires' “right” to make further billions on a ropey bet over the sovereignty of states and the livelihood of peoples. Have to agree with Cristina that he seemed senile - if he was 87 now then he'd have been 84 when he was making these rulings; why wasn't he an ex-judge (like Bonadio!) already?

    Dec 27th, 2017 - 12:32 pm - Link - Report abuse -12
  • Stoker

    I know it comes as a shock to Argies but when you borrow money under a Bond Contract you are obliged to pay it back with the interest you agreed with your creditors. If you do not uphold your end of the bargain your creditors have the right to take you to Court and force you to pay up. Simples ;-D

    Dec 27th, 2017 - 04:41 pm - Link - Report abuse +7
  • Don Alberto

    British_Kirchnerist is obviously trolling, as no human being can condemn a judge for opholding the law.

    Dec 27th, 2017 - 06:53 pm - Link - Report abuse +8
  • British_Kirchnerist

    If it was not a debate in law it wouldn't have got to his court. He set a precedent, and could have set another, better, one

    Dec 27th, 2017 - 09:39 pm - Link - Report abuse -10
  • imoyaro

    “British_Kirchnerist is obviously trolling, as no human being can condemn a judge for opholding the law.”

    Brutish_Kriminalist is a lawless criminal... ;)

    Dec 27th, 2017 - 09:47 pm - Link - Report abuse +5
  • Marti Llazo

    The usual kirchnerist nonsense from BK, but a good reminder of what such criminals are made of. Seems to forget that the argie government selected the US jurisdiction (because understandably no one in their right mind would count on argentine law in such matters). Griesa enforced the contract law that Argentina signed up for. Duh. For criminal peronists like BK, “ sovereignty” means deliberately failing to comply with the law, and not paying the bills that are due. It's what first comes to mind when one hears “Argentina.”

    Dec 27th, 2017 - 11:38 pm - Link - Report abuse +7
  • golfcronie

    You would have to be senile to buy Argentine Bonds with any interest rate under Argentine law, that is why the international community bought them under US law, simples really.knowing that they would be paid. Anyway Cristina managed to give the yanks more money for their bucks as interest accumulated. Well done Cristina always thinking long term.

    Dec 28th, 2017 - 03:43 pm - Link - Report abuse +2
  • Conqueror

    BK is “challenged”. He knows nothing about real law, just Kirchner law. I imagine his room decorated with pictures of his idol, who could do no wrong.

    Even at long range, I am truly enjoying watching her wriggle on the hook like the worm she is. Although worms are infinitely more beneficial. I trust that when she is finally convicted, she is handed a 50 year custodial sentence. Argieland should be ready to arrange for certain political individuals to share the fate of Benito Mussolini. They could also learn from ancient societies that adopted the practice of completely expunging “ruling” criminals from “history” as well.

    Dec 28th, 2017 - 06:13 pm - Link - Report abuse +1
  • Pete Bog

    @BK

    “to make further billions on a ropey bet over the sovereignty of states and the livelihood of peoples”

    But that sovereignty or lack of control over Argentina was surely caused by Argentina going into the agreement and ending up owing money thus putting itself at risk?

    Was Griesa flounting the law under which the Bonds were issued?

    The issue seemed to be sorted quickly by Macri to the benefit of Argentina.

    Dec 28th, 2017 - 08:26 pm - Link - Report abuse +1
  • Marti Llazo

    We seem to forget (well, some seem to forget) that the Griesa decisions and the eventual negotiation to pay a portion of the defaulted debt benefited not just the large hedge funds but also tens of thousands of other smaller investors who had been stiffed by argentine governments. Many of those tens of thousands were argentines who had invested their retirement money in those bonds and who were not willing to take the pennies-on-the-dollar that the Kirchners offered.

    It's always reassuring to see BK and reekie and their likes defending such Peronist theft, done at the expense of argentine pensioners.

    Dec 28th, 2017 - 10:43 pm - Link - Report abuse +4
  • RICO

    The hedge funds gave many of the smaller bond holders money which they needed as many of them were retirees on fixed incomes. These smaller bond holders were in no position to sue the Argentine government on their own so Argentina relied on the fact to rip them off. You can be sure if they had sold the bonds to the Chinese governments they would have found a way to pay.

    Dec 29th, 2017 - 12:38 am - Link - Report abuse +4
  • Enrique Massot

    Bon voyage, Mr. Griesa. You won't be missed. Don't forget to hold the door open for your Paul Singer friend.

    Dec 29th, 2017 - 03:30 am - Link - Report abuse -8
  • Marti Llazo

    As usual, Mr reekie supports the Peronist governments' practices of stealing from their own pensioners. It was expected.

    QEPD Judge Griesa, you did Argenzuela a tremendous favour, though few there are astute enough to recognise it.

    Dec 29th, 2017 - 10:26 am - Link - Report abuse +4
  • imoyaro

    Looking forward to that bottle of Carménère when you get frog marched out of this “Vale of Tears,” Kamerad/Komrade Rique. There's a special place waiting for you, and it isn't in any sort of “heaven.” :)

    Dec 29th, 2017 - 10:31 am - Link - Report abuse +1
  • British_Kirchnerist

    Think Enrique's being distasteful in speaking so unmournefully of a death? Take it up with Chico and that video he's been spamming all over the place about Cristina. Early, of course, hopefully by decades

    Dec 29th, 2017 - 01:42 pm - Link - Report abuse -5
  • imoyaro

    Both La Asesina and Maximo “Tweak” Kirchner deserve a Gualberto Villarroel send off. Look it up...

    Dec 29th, 2017 - 02:54 pm - Link - Report abuse 0
  • British_Kirchnerist

    I don't have to, I know my history and I already knew you were a sick creep

    Dec 29th, 2017 - 03:13 pm - Link - Report abuse -6
  • imoyaro

    Being called a sick creep by a supporter of boodling on a grand scale, government smuggling of meth precursors, government directed mob violence against opponents, and of course, state assassination of a government prosecutor with impunity is an honor. Thank you for the compliment! ;)

    http://rantburg.com/images/piefight05.jpg

    Dec 29th, 2017 - 03:45 pm - Link - Report abuse 0
  • chronic

    Reeeeeeeeeeeeeeeeeeeeekieeeeeeeeeeeeee!

    Griesa lived to see it through.

    Singer - Ka Chingggggggggggggg!

    You were - and usually are - sooooooo wrong!

    Dec 29th, 2017 - 04:50 pm - Link - Report abuse +2
  • Chicureo

    “...Take it up with Chico and that video he's been spamming all over the place about Cristina...”

    Omygosh, gee, I'm sorry British_Kirchnerist I didn't think such a delightful video of the wretched witch of Argentina's funeral parade...
    I find it personally deeply satisfying...

    As I remind you again, Cristina hopefully lives a long, very long life behind bars, but if she should overdose on Botox in the short term, we have the solemn ceremony already choreographed: https://m.youtube.com/watch?v=kPIdRJlzERo

    Dec 29th, 2017 - 06:27 pm - Link - Report abuse 0
  • El capitano 1

    Yup....he DIED alright....Shot in the back of the head.....Who would'nt DIE..??

    Dec 29th, 2017 - 06:39 pm - Link - Report abuse 0
  • Enrique Massot

    @chronic

    “Singer - Ka Chingggggggggggggg!”

    Pretty candid, chronic.

    Thanks.

    No need for more.

    Dec 29th, 2017 - 07:00 pm - Link - Report abuse -5
  • chronic

    You're the one that said he' d never collect.

    Dec 29th, 2017 - 07:45 pm - Link - Report abuse +2
  • Enrique Massot

    @chronic

    Did I? Well, I was wrong! Collect he did, and you celebrate it even if you won't get a share of the bounty. Sad to see characters ready to admire and celebrate the deeds of the rich and powerful pillaging developing countries.

    Dec 30th, 2017 - 04:35 am - Link - Report abuse -3
  • imoyaro

    Personally, I am still celebrating the failure of the gusano, Kamerad/Komrade “El Fracaso” Rique, to infiltrate the governmental system of Canada. Bummer, eh? :)

    Dec 30th, 2017 - 05:51 am - Link - Report abuse 0
  • Stoker

    “Pillaging developing countries”????
    I thought the Republic of Argentina was a member of the G20
    https://en.wikipedia.org/wiki/G20#List_of_members

    Dec 30th, 2017 - 11:25 am - Link - Report abuse +1
  • Marti Llazo

    Funny how reekie considers Argenzuela a modern developed country when it's convenient, and a poor underdeveloped backwater república bananera del cuarto mundo when it's time to pay the bills.

    And despite the reminders, el reekie still seems to be blissfully ignorant of the fact that Argenzuela itself selected New York law for selling its dubious debt since the world (except Argenzuela, evidently) respects how the law is handled in the US. Ergo, reekie's Argenzuela would receive the advantages of dealing with commerce under US law but none of the responsibilities and obligations. How very, inveterately Argentine !!

    And it's also ironic for reekie to complain of “pillaging” by the law-respecting countries when we consider the theft in enormous proportions by the Pillager-In-Chief herself, la Kretina.

    Consider what the civilised nations have done recently for Argenzuela. The defeat in the Falklands War in 1982 was largely responsible for the country's return to democracy in 1983. And the Griesa decisions greatly contributed to Argenzuela's move a tiny bit closer to being someday considered a somewhat normal country potentially capable of participation in international finance and respectable commerce, something quite unthinkable under the KK Kleptocracy.

    Ridiculous Reekie doesn't know just what splendid entertainment he provides to everyone.

    Dec 30th, 2017 - 11:32 am - Link - Report abuse +2
  • chronic

    Reeeeeeeeeeeeeeeeeeeeekie, the rule of law favors no man or nation above another.

    Dec 30th, 2017 - 01:36 pm - Link - Report abuse +1
  • Enrique Massot

    Predictably, the usual suspects are coming to cheer for the vultures of the international finance, who have pillaged billions not only from Argentina but from poorer countries such as Peru, Congo and Zambia.

    They write about the “legality” of a scheme that forces the citizens of poorer countries to engross the coffers of wealthy financiers - as reversed Robin Hoods.

    What is the vultures’ modus operandi? Simple. They make speculative purchases of bonds became nearly worthless because their emitting countries are in financial distress. They pay pennies on the dollar for those bonds become junk. When those countries begin to get on their foot again, they sue to get the bonds' full nominal value.

    Hey, vultures are now circling Venezuela in hopes to make another kill!

    https://www.irishtimes.com/business/economy/venezuelan-debt-now-has-the-vultures-circling-1.3292562

    That is what they did with Argentina, and an apparent mistake made by the country when negotiating a haircut with bondholders representing 93 per cent of the total debt helped judge Thomas Griesa to make a legal interpretation in favour of the vultures, holding the remaining seven per cent of the debt.

    Was it legal? Possibly. Moral? You judge.

    After becoming Argentine president in 2015, Mauricio Macri paid the vultures – with borrowed money, mind you. Macri has since kept borrowing nonstop to finance a large fiscal deficit while he operates a massive redistribution scheme to concentrate wealth in fewer hands.

    The party goes on as we speak but will inevitably come to an end because the massive borrowing is not enhancing Argentina’s capacity to pay—the foreign dollars, borrowed at high interest rates, are just keeping the lights on.

    When this Ponzi scheme comes crashing down as it did in 2001, Marti and his cheerleader friends will again blame “the Argentines” at large for not working hard enough.

    They won't say a word about Macri, his mentors and backers – the only ones profiting.

    Jan 04th, 2018 - 07:56 pm - Link - Report abuse +1
  • Marti Llazo

    Perhaps ridiculous reekie would have us look into how the Kirchners made their first money.... worse vultures than Singer, for sure. A lot of Argentines lost their homes to the slick work of Néstor and Kretina.

    Reekie of course you were not listening when we explained to you in simple terms how the hedge funds ultimately forced Argentina to pay much of what was owed to tens of thousands of pensioners - many thousands of them Argentines - that the Kirchners attempted to stiff completely. All of which makes yet another lie of your attempt to say that Macri and company are the only ones who benefit from the debt resolution.

    We know you are blissfully unaware of the concept of contract obligations and the notion that debt must be paid according to the laws and agreements entered into by the borrowing party. As a Kirchnerist you must find that simply impossible to comprehend.

    Keep it up, reekie - your every post makes you all the more laughable.

    Jan 04th, 2018 - 09:56 pm - Link - Report abuse -2

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