United States

United States
Thursday, August 14th 2014 - 06:44 UTC

Aurelius Capital confirms no deal with banks on Argentina's bonds

“Argentine officials made a cynical and cold decision in letting the country default, the worst is yet to come”, said Mark Brodsky from Aurelius

Argentine holdout creditor Aurelius Capital Management has said that after talks with many financial institutions, the prospects for finding a private-settlement solution to the Argentine sovereign debt dispute had garnered no realistic proposals.

Thursday, August 14th 2014 - 06:34 UTC

Talks between global banks and Argentine creditor hedge fund “collapsed”

Elliott Management hedge fund and JPMorgan, Citigroup, HSBC, and Deutsche Bank were in negotiations

Talks between a group of global banks and at least one major hedge fund about buying a portion of the fund's exposure to Argentine debt have collapsed, a person familiar with the matter told sources in Buenos Aires, amid concerns that the Argentine government has dug in to its refusal to pay certain creditors what they are owed and may not relent for months to come.

Thursday, August 14th 2014 - 05:41 UTC

US Nevada court grants 'holdouts' discovery rights into assets of Kirchner family friends

“Campagnoli authored a report stating that Baez laundered 65 million dollars through 15 Nevada corporations”

The hedge fund Elliott Management secured a victory on Tuesday in its pursuit of Argentine assets abroad, as a court in the US state of Nevada granted the corporation discovery rights to 123 companies allegedly linked to the Santa Cruz public works tycoon Lazaro Baez, and believed to be closely linked to the Kirchner family.

Monday, August 11th 2014 - 22:24 UTC

Global economic recovery remains 'disappointing' says Fed's Vice Chairman

Fischer suggested that QE along with “forward guidance” had helped the US economy work through the Great Recession without worse damage.

US Federal Reserve Board Vice Chairman Stanley Fischer said that the economic recovery has been and remains “disappointing” and made it clear that he expects monetary policy to continue to play a significant role in encouraging growth in the future.

Monday, August 11th 2014 - 01:54 UTC

Argentina/holdouts, a clash between 'global financial power and political power'

Supreme Court Judge Zaffaroni: the major scandal is not Griesa, a provincial judge, but the US Supreme Court

A Judge from Argentina's Supreme Court joined the ongoing battle in New York between the Argentine government and the holdouts and slashed out at the US Supreme Court for rejecting to take the case back in June. Eugenio Zaffaroni argued that the conflict must be addressed in the context of “attacks from the global financial power on political power”.

Saturday, August 9th 2014 - 07:53 UTC

US reject the ICJ as an 'appropriate venue' for addressing Argentina's debt issues

The State Department spokesperson also called on Argentina to engage with creditors to resolve remaining issues with bondholders (Pic Heffx)

A spokeswoman for the U.S. State Department said the United States would not permit the International Justice Court in The Hague to hear Argentina's claims that U.S. court decisions had violated its sovereignty.

Saturday, August 9th 2014 - 07:45 UTC

Despite warning, Kicillof again defies and again accuses Griesa of 'partiality'

 The statement from Kicillof's ministry said “Judge Griesa continues contradicting himself and the facts by saying that Argentina did not pay”

Economy ministry Axel Kicillof once again defiantly insisted Argentina has made a required debt payment on restructured sovereign bonds on Friday night, just hours after a U.S. judge threatened a contempt-of-court order if Argentina did not stop issuing such statements.

Saturday, August 9th 2014 - 07:34 UTC

Griesa warns Argentina with 'contempt' if it continues with “false and deceiving statements”

Blackman said his firm had nothing to do with the two-page ad and appealed to Griesa to consider that Argentina's default was of “immense public interest”

New York district judge Thomas Griesa on Friday threatened to declare Argentina in “contempt” of court if the Republic continues to make “false and deceiving statements,” following Argentina’s claim it has already paid exchange bondholders and has no pending obligations, as it deposited 539 million dollars in bond payments in Bank of New York Mellon (BoNY) and Citibank.

Saturday, August 9th 2014 - 07:12 UTC

Fifty years since the Gulf of Tonkin incident which triggered the Vietnam war

 “Aggression by terror against peaceful villagers of South Vietnam has now been joined by open aggression on the high seas against the US”, President Johnson

Fifty years ago, a controversial confrontation in the Gulf of Tonkin between the United States and North Vietnam forces set the stage for what eventually became US involvement in the Vietnam War.

Saturday, August 9th 2014 - 05:49 UTC

Forty years ago Watergate forced Nixon to became the only US president to resign

Nixon: “to leave office before my term is completed is abhorrent to every instinct in my body.  But as president, I must put the interests of America first.”

Forty years ago on August 8, 1974, Richard Nixon became the only US president to resign from office. His departure came because of his involvement in the Watergate scandal and subsequent cover-up, which began when Republican campaign operatives broke into Democratic Party headquarters in the Watergate office building in Washington in June of 1972.

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