MercoPress. South Atlantic News Agency
Argentina vs hedge funds: second chapter of appeal before the US Supreme Court
The Argentine government will appeal on Monday before the US Supreme Court for the second time against the hedge funds claim. The Supreme Court is the last judiciary step in the dispute. Read full article
Comments
Disclaimer & comment rulesAwful lot of talk that SCOTUS is going to decline hearing.
Feb 17th, 2014 - 11:32 am - Link - Report abuse 0My my would that be a blow to CFK.
BTW thank you Rgs for all of the new cars and houses your foolish leaders have bought their attorneys here.
Glad you don't need the U$ for fuel.
I do most sincerely hope that the Supreme Court plumps for JUSTICE. It doesn't take long to find out that argieland has been dishonest since DAY ONE! It was supposed to “negotiate” a restructuring. It didn't. It forced one on its own terms. Who did it restructure with? The 93% who didn't have the money to fight. And, let's face it, if you had US$1,000 in bonds and were offered US$350 or NOTHING, what would you choose? And the bondholders were only offered replacement bonds. More “wait for your money”.
Feb 17th, 2014 - 02:04 pm - Link - Report abuse 0“Argentina basically argues that if finally it must comply with Judge Griesa's terms, the country could again fall into default because of the cataract of demands that would follow plus the fact that it could hinder the debt restructuring processes of other countries. Besides it would be most unfair with the majority of Argentine bond holders that have accepted the restructuring.”
Let's take those options. Argieland falls into default again. So what? Such a default should be closely overseen by the international community. Start by stripping every member of the “government” of their “personal wealth”. And have every possible hiding place searched.
The debt restructuring of other countries? Not really a problem. It might hurt any country as bent as argieland. And who would care about that? Any country as bent as argieland deserves everything bad that happens to it.
As for the other bondholders, it was their choice. But at least they might have a chance to claim that they were forced. and what was done to them should be voided.
The Obama administration should stay out of this. The U.S.A will not suffer. And it could, rightly, say that JUSTICE comes first.
Obuma is of course desperate for a “result” for “other countries” defaults than to see real justice done.
Feb 17th, 2014 - 04:19 pm - Link - Report abuse 0No matter those other countries defaults of the recent two years have handled the perceived problem with no trouble at all, Obuma must have “right” on his side, or rather an attempt to extricate his falling approval rating.
No, I hope SCOTUS looks at the law of contract for what it is, a BINDING document on both parties. The Bond was made under NY Law for a reason: nobody in their right mind would trust The Dark Country if it were under Argentina Law (surely an oxymoron) and SCOTUS should uphold Judge Griesa's terms and rule accordingly.
Failure to do so will give all the other scumbag countries confidence they can do the same and get away with it.
I think everyone agrees this is simple NY contract law. There's a 60/40 chance Scotus will not hear the case.
Feb 17th, 2014 - 07:28 pm - Link - Report abuse 0Argentina has lost all the way up.
The only reason this has gone on as long as it has is because the Ks don't care about money, well, other people's money.
They've wasted millions upon millions trying to defend the indefensible.
Well it is a bit hard to get blood out of stone, so good luck getting Argentina to pay up.
Feb 18th, 2014 - 12:04 am - Link - Report abuse 0If the courts rule against Argentina they can't pay.
Sad to say it but the persons to blame are the ones that advised them to buy the Argentine bonds when they were already 100 billion in the red!
Hope that POS Singer never collects a cent from Argentina.
5. I would love to hear why you think someone doesn't deserve full payment on the contract Argentina signed.
Feb 18th, 2014 - 12:13 am - Link - Report abuse 0Please explain.
@5
Feb 18th, 2014 - 08:16 am - Link - Report abuse 0But of course! It's all Somebody Else's Fault. What else could it be?
@7 Singer bought them knowing there is a risk of not getting paid.
Feb 18th, 2014 - 10:10 am - Link - Report abuse 0The scumbag has no qualms about throwing 40 million people in abject poverty even though he has more $ than he knows what to do with.
The guy doesn't have any moral compass what so ever!
If someone is going to be stuck holding the tab, he is the best suited for this.
@ 8 Klingon
Feb 18th, 2014 - 10:39 am - Link - Report abuse 0Singer isn’t “throwing 40 million people in abject poverty”, the Ks have. And why do you think he has made the money he has? Clue: it’s not by being “president” of a bunch of scumbag Peronistas and stealing everybody’s money for himself. It’s by seeing an LEGAL opportunity and going for it.
What about all the small investors, mainly Italians who trusted The Dark Country, who lost out while the banks took the hit and recharged their customers for it?
YOU and your attitude is why Argentina is in the mire, it’s never Argentina’s fault with you lot, is it?
8. So it is only this specific transaction that you think is not worthy of basic contract law?
Feb 18th, 2014 - 11:08 am - Link - Report abuse 0That makes no sense whatsoever
You are a brainwashed fool
For a must read summary of Argentinian decline, see http://www.economist.com/news/leaders/21596515-there-are-lessons-many-governments-one-countrys-100-years-decline-parable
Feb 18th, 2014 - 11:10 am - Link - Report abuse 0that article of the economist is one of the worst i ve ever read about argentina.
Feb 18th, 2014 - 11:49 am - Link - Report abuse 0agree that cristina is a disgrace for the country, but it seems the author does not have the slightest idea about the real events, and clearly he has never read an argentinian history book in his whole life.
the poor thing thinks that argentina was at its best during the decada infame...
and they think the economist is one of the best magazines in the wolrd?
must be a joke.
12. Argentina is the only country consistently and constantly moving down the GDP by country list over the last 100 years.
Feb 18th, 2014 - 12:00 pm - Link - Report abuse 0The ”events' Argentina endured are irrelevant. Events are one time things, quick, they don't last 100 years.
That is the whole point of the article.
Successive bad gov'ts have ruined the country
The same thing I've been saying for a long long time
My bet is once the GDP growth over the last decade is restated you'll probably be down another notch or two.
Your future looks pretty grim
http://www.bbc.co.uk/news/business-26225135
Feb 18th, 2014 - 06:08 pm - Link - Report abuse 0Chuckle chuckle
http://abcnews.go.com/International/wireStory/argentina-asks-top-us-court-stop-catastrophe-22571970
Feb 19th, 2014 - 12:45 am - Link - Report abuse 0Sheesh what a load of crap.
I hope Scotus says its not going to take the case
and does it soon
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