MercoPress. South Atlantic News Agency
Hedge fund CEO says that dispute with Argentina could be settled 'in an afternoon'
Paul Singer, CEO of hedge fund Elliott Management Corporation and who is litigating Argentina demanding full payment of defaulted bonds described Argentina's government policies as 'horrendous' and stated that 'talking' he could settle the dispute 'in an afternoon'. Read full article
Comments
Disclaimer & comment rulesOh surely he jests!
Jan 28th, 2014 - 11:14 pm - Link - Report abuse 0It would just take an afternoon for Cristina to rant and rave... the deal would have be delayed until the next morning.
“could be settled in an afternoon”
Jan 28th, 2014 - 11:15 pm - Link - Report abuse 0Really? How MP? Did Seinger say how this could be done in an afternoon?
All Argentina has to do is to agree to pay in full, “in just one afternoon!”
Agreement to that hasn't happened in years and years, how will that now just happen in an afternoon?
It won't. Is MP is wasting it's readership's time with a totally hollow quote?
'in an afternoon' ... that of course depends on Crass-tina being back from lunch...
Jan 28th, 2014 - 11:20 pm - Link - Report abuse 0(in CUBA, obviously, no doubt picking up some modern financial and economic tips while she is there),
rather being than simply 'out-to-lunch' as per normal (it's the botox,,,)
Anyway, how was lunch? Oh, you already told the world about it?
I think Mr Singer may have to lower his expectations a little. Clearly he doesn't have the same old-school charm as The Fidel-ler...
snake. if argentina's policies are so horrendous then why did you buy its debt? and if you care about the wellbeing of its citizens why are you expecting to cash in 10x the amount you paid for that debt?
Jan 28th, 2014 - 11:22 pm - Link - Report abuse 0what mercopress does not mention is that mr singer and his vulture company has been offered by Gramercy (and the other hedge funds who accepted the debt swap) the purchasing of its debt to avoid the judiciary option. the other hedge funds would forgo part of their income to pay mr singer.
he declined.
you borrowed, you pay back with interest, so stop complaining PAY!
Jan 28th, 2014 - 11:55 pm - Link - Report abuse 0@ 4 Tranny- ass
Jan 29th, 2014 - 12:07 am - Link - Report abuse 0details, dear boy, just minor details. You borrowed over 100 billion $ you crazy fools. You never paid it back. Fact.
Just pay up and play nicely now.
Look up greed in the dictionary and you will see a picture of that old scumbag Singer.
Jan 29th, 2014 - 12:16 am - Link - Report abuse 0He has more $ than he knows what to do already and will throw 40 million into poverty so he can get more $$.
He needs to be tossed into a wood chipper.
@5. the same can be applied to mr singer - you bought defaulted debt from a country with a poor international investment rating - so stop complaining and settle to recover your extorsion... ehm investment.
Jan 29th, 2014 - 12:29 am - Link - Report abuse 0@7. exactly klinon. he uses the US legal system to his advantage but this snake does not even pay taxes in the US, since his business is mostly ran in belize or what not.
this man is the scum of the earth.
Unfortunately Argentina can't afford to pay Singer, we only have 6 billion in cash which isn't enough even without our massive debt. CFK can pay, Singer should try to take the money she stole which is deposited in Seychelles. If paying Singer means we have to pay 100% to everyone who already accepted the haircut, it's impossible for Argentina to ever pay its debt in full.
Jan 29th, 2014 - 12:37 am - Link - Report abuse 0Ahhh, the liddel wanabe gangsters of the most fabulous country in the Universe are crying, it wasn’t their fault the lenders expected to get paid. Diddums.
Jan 29th, 2014 - 10:45 am - Link - Report abuse 0Now getting back to the facts: Argentina borrowed it, they didn't pay anything back, and they enforced a haircut which only the banks could afford by sharing out the losses among its customers.
Pay it back or continue the downward slide to economic oblivion.
Simples!
When not IF goes hat in hand to the IMF one of the conditions of the bailout loan will be to come to an agreement ( PAY) the holdouts.
Jan 29th, 2014 - 11:07 am - Link - Report abuse 0It will be interesting to see what happens first, SCOTUS forcing payment or the IMF.
tick tock tick tock
If CFK did not have an ego the size of a planet this could have been settled a long time ago. All her ridiculous posturing to the home crowd with cries of “We will NEVER pay” and “we will ignore the court ruling if we don't like it” has escalated this problem. It is as if she thinks no one outside of Argentina can see or hear what she does.
Jan 29th, 2014 - 11:51 am - Link - Report abuse 0No one likes seeing the people of a country punished for the foolishness of the people running it. But the responsibility for this mess lies totally in the hands of the K's.
@12
Jan 29th, 2014 - 12:55 pm - Link - Report abuse 0“All her ridiculous posturing to the home crowd...”
It is the curse of populism.
Every day the holdouts hold out is millions in lost potential earnings.
Jan 29th, 2014 - 01:07 pm - Link - Report abuse 0And so closer and closer to the offered compromise amount.
The day will come where the utility, certainty, and potential earnings of accepting Arg's offer equals the originally demanded amount minus the already lost earnings and legal costs.
Each day increases the probability of this happening.
Heres how to end it in an afternoon. Arg should offer to increase its offer, offer a postponed reward on top and warn the holdouts if the offers not taken then they risk the inverse.
Maybe even throw in a musical chairs/last taker loses all threat.
Stick and carrot, and a run for cover.
Give them a early future date and holdout shareholders will sht themselves with acute increasing speed.
14. The bonds that the “holdouts” own are still accruing interest and penalties. In the end they will also be compensated for all legal costs.
Jan 29th, 2014 - 01:14 pm - Link - Report abuse 0They know they will get paid, they know they will get the full amount plus expenses.
Why would they give up now when they are so close?
They won't
Argentina has been playing the waiting game with everyone, holdouts, IMF, ICSID, WTO etc etc etc.
Too bad for them the game is up in 2014.
Singer should be paid every single dollar he borrowed Argentina.
Jan 29th, 2014 - 02:56 pm - Link - Report abuse 0No more, no less.
But if he just bought a defaulted debt for pennies, well, it's a risk he took. Nobody forced him to.
CROCODILE TEARS.
Jan 29th, 2014 - 03:07 pm - Link - Report abuse 0I must be honest and recognize that i didn't expect a lecture like this one by a guy like paul singer, but isn't it contradictory and hypocritical to talk about the serious structural problems that argentina still has, and at the same time to pretend to charge the 100% of defaulted bons, bought at very low prices, after having rejected two debts reestructurings?.
I can understand that in a casino economy like the actual one, speculative capitals don't care in absolut about the damagge that they can produce over periferic nations, but what is really pathetic and hypocritical is to see a guy like that one, talking about our problems, when actualy what he wants is to ruin the country.
If he's so interested in charging his defaulted bons, then why doesn't he get into the third debt reestructuring, and turn the page, as most holders did, who represent the 92% of the defaulted debt?.
It's obvious that he won't do it, in the same way that it's also expectable that all those cretins, who often refer to the serious problems that we have, will keep on blaming on c. f. k's government only, making their usuall partial lectures, but at the same time they'll keep on victimizing economic power.
Those misserable people don't care in absolut about our problems either, they just make a hypocritical manipulation of our problems, in order to have one more motive to insult a leader that they don't like, because they don't agree on her in ideological terms. If they really cared about discussing seriously in relation our serious problems, they wouldn't make such partial lectures, blaming on c. f. k's mistakes only, that's why, they are just as cretins as paul singer.
16. Advice from someone who knows absolutely nothing of how the bond market functions.
Jan 29th, 2014 - 03:09 pm - Link - Report abuse 0That would be a quick way for all bonds sales to cease immediately.
Your posts get stupider with every one.
Give up while you can.
to all you stupid fuckheaded Argentines: It does not matter WHO owns the debt.......that is a contract and Argentina owes that contract the terms of the contract. The real issue here and always has been is that Argentina always wants the easy way out of life.
Jan 29th, 2014 - 03:36 pm - Link - Report abuse 0It's not going to happen kirchner. You fucked you people without vasoline AND you got half the morons to drink your kool-aid and they post here on this website. When I had a mortgage.....it was sold 3 times during it's life.
Not once did I think I no longer owed what I borrowed.
Kirchner....honor your countries debt and stop making the people of Argentina pay for you inbred arrogance. You want to change laws pertaining to sovereign debt, take it up with the G20....until then, whoever owns the contract/bonds is the legitimate holder of sovereign debt, there are no bankruptcy protection laws for nations.
Apr 16 2013.
Jan 29th, 2014 - 03:40 pm - Link - Report abuse 0Yankeeboy “pesos are pretty safe ”
Jan 26 2014.
The Argentine currency Peso is in shaky-- if not freefall mode.
Your posts get stupider with every one.
Give up while you can.
20 Stupid Vestige, why oh why didn't you post the everything?
Jan 29th, 2014 - 03:47 pm - Link - Report abuse 0Do you not know sarcasm when you read it?
pesos are pretty safe and you get good interest
I think you should put all available funds in Arg Pesos
This should work out very well for you especially since BCRA is printing 40% more of them this year.
When do you think they start adding extra zeros?
Then they must be even more valuable
It is simple to see why Argentina has a currency crisis every decade.
They are all so stupid!
I wonder why the Prez and cronies are hiring planes to ship pallets of U$ and Euros to switzerland? FOR THEIR OWN ACCOUNTS
That seems odd if the Peso is the way to go.
Doncha think?
New world order..Bahahahaha...fool
@4 No. Gramercy offered some more useless bonds on what criminal argieland could default. But then “truth” is a foreign language to you, isn't it?
Jan 29th, 2014 - 03:54 pm - Link - Report abuse 0@7 No problem. He can stand on you.
@8 You'd know about scum. Being one, surrounded by more, eating it.
@14 Ah yes. Another threat. How about we all get together everything argie we can get our hands on. Then say that no “law” applies to argierland.
@17 Why would anybody care about a bunch of thieving criminals? Still, perhaps we could accept an argie life per dollar. At what point do you give up and decide to pay? The most important thing is that argies MUST be made to suffer. Every day. For about 50 years. Let them eat mud! Demolish every building. Rip up and poison every field. Let them start again. Controlled by the slave overseers with the clubs and whips. In fact, all argies should be sold into slavery. They could build a road to the Falklands. Depending on how long they could hold their breaths.
20. OMG thanks for posting that and reminding me of the chat with Toby and Dany about a new world order of BRICs and me telling them how idiotic they were.
Jan 29th, 2014 - 03:58 pm - Link - Report abuse 0AND that was when the peso was 5/1!!
Bahahahaha
No wonder Rgs think I have a crystal ball.
calm down yankee.
Jan 29th, 2014 - 04:44 pm - Link - Report abuse 0didn't mean to touch a nerve.
too easy.
@23h hey taxyboy change your Nick to kelperboy, phony.
Jan 29th, 2014 - 06:33 pm - Link - Report abuse 0@25 Back out on the street and bend, girlie! Bet you suck as well. Of course you do. Slurp, slurp, gobble, gollum!
Jan 29th, 2014 - 07:05 pm - Link - Report abuse 0Vestige was PWNED. LOL
Jan 29th, 2014 - 07:12 pm - Link - Report abuse 0I just read those comments. Love this one from Dany:
“pesos are pretty safe and you get good interest.
I’m adapting myself to the new world order, have you ever heard about it?”
You get good interest. Bahahahahahaha Not higher than the inflation rate unfortunately.
LOL! Very cheap shot from Vestige that backfired spectacularly.
Jan 29th, 2014 - 08:37 pm - Link - Report abuse 0Why do people think I get mad? Most times I think the ill thought out rebuttals are hilarious!
Jan 29th, 2014 - 08:44 pm - Link - Report abuse 0Paul Singer can rattle anything he wants but HE knew very well the risks of the loans: the economy is bad and there is not sufficient revenues to pay his claim.
Jan 29th, 2014 - 11:38 pm - Link - Report abuse 0ron 57!!! 57”!!! haha! How many screen names do you need?
Jan 29th, 2014 - 11:53 pm - Link - Report abuse 0Keep getting bumped off do you?
@31
Jan 29th, 2014 - 11:57 pm - Link - Report abuse 0“Keep getting bumped off do you”?
jajaja
27,000 screen names posted by the bloody rubbish britons!
@32
Jan 30th, 2014 - 12:27 am - Link - Report abuse 0Dear Ronnie Reagan (for surely that is your hero?), as I have pointed out previously, the sandpit is on the LEFT, where you are more than welcome to dump your excrement, rather than here. The grown-ups are busy.
I do trust your level of English is high enough to comprehend my gentle humour?
ilsen......sussie had a sexual re-orientation surgery........she is now swinging a pair of silicon imparted testicles and a pumpible....no less on demand penis. She is now a he........but still ugly as a skunk....and smells the same.
Jan 30th, 2014 - 03:41 pm - Link - Report abuse 0Ilsen
Jan 30th, 2014 - 04:05 pm - Link - Report abuse 0Are you being funny too?
Funny and witty... I'll be damned...
Your posts are indeed hilarious, now it makes sense... You were being funny.
But witty?
@33
Jan 30th, 2014 - 09:27 pm - Link - Report abuse 0”Dear Ronnie Reagan (for surely that is your hero?)” ??????????
...just because i am the only one posting from the USA does not mean such B Actor Ronnie Reagan is a hero....he is one of the worst usa presidents after Barry Soetaro Barack H. Obama
@34
yuck, bloody rubbish british comment!
ron prove it? Send me an email to:
Jan 31st, 2014 - 10:01 am - Link - Report abuse 0m.cher1160@outlook.com
If not you are a liar and not posting from the USA.
did you say that the uk team are all “agents”...
Jan 31st, 2014 - 10:46 pm - Link - Report abuse 0or
briiiiiiiiiiiiiiitish rats?
For once this vulture is right, the matter was settled in an afternoon years ago, I some times wonder if some of this morons know how to use Google. Some people got to stop living in the past, the future has soon much to offer.
Feb 01st, 2014 - 08:12 am - Link - Report abuse 0Commenting for this story is now closed.
If you have a Facebook account, become a fan and comment on our Facebook Page!