MercoPress. South Atlantic News Agency
US government files 'friendly' support for Argentina before the Supreme Court
The Obama administration filed an ‘Amicus Curiae’ measure before US Supreme Court, supporting Argentina’s position in the dispute with the hedge funds which the government of president Cristina Fernández refers to as ‘Vulture Funds’. Read full article
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Disclaimer & comment rulesThe poor yankees again have to put their trousers down with Argentina...
Mar 06th, 2014 - 08:25 am - Link - Report abuse 0“Amicus Curiae” ha
The Obuma rabble still don't get it do they?
Mar 06th, 2014 - 10:06 am - Link - Report abuse 0“debt restructuration is the proper way to overcome the ... debt problem.”
Mar 06th, 2014 - 10:57 am - Link - Report abuse 0I guess it must be in US's interests to get back 10 cents on the dollar, but does what the US decides go for everybody else in the world?
I think I would fight to get back what I was owed ... with interest!
Correct me if I am wrong but I have a fgeeling that this relates to the request for info on Agrentina's holdings rather than the question of pari passu interpretation
Mar 06th, 2014 - 11:27 am - Link - Report abuse 0A wink and nudge from team Obama, chats over lunch.
Mar 06th, 2014 - 01:12 pm - Link - Report abuse 0The judge will see the wider implications for the US.
Singer, at his age, will never see his precious.
#4 you are correct this is strictly relating to the subpoena's. They have so many cases everywhere is get's confusing.
Mar 06th, 2014 - 01:17 pm - Link - Report abuse 0@1 It has nothing to do with Argentina.
Mar 06th, 2014 - 01:31 pm - Link - Report abuse 0Clearly, someone doesn't understand their motives or how international law works. If the U.S. decides to punish CFK for being a deadbeat, it could create a legal precedent that could effect other countries such as Greece or the U.S. itself.
If only they could pass discriminatory laws that are unfairly targeted toward specific people. Oh wait...that's what the botox queen does.
The brief only relates to FSIA and discovery. I doubt the Rg trolls could understand it but here's a good summary:
Mar 06th, 2014 - 01:47 pm - Link - Report abuse 0http://fsialaw.com/2013/12/15/discovery-under-the-fsia-an-examination-of-the-solicitor-generals-brief-in-nml-capital/
It seems that the American people are poorly served by the current administration. How many people around the world believe that, at the end of the day, the United States stands for truth, justice, freedom and the people? Intervention in this matter, whether it relates to the subpoenas or the overall matter, means that people will see the U.S. supporting argieland's larceny and mendacity.
Mar 06th, 2014 - 02:14 pm - Link - Report abuse 0@7 What you seem to be saying is that the United States should support larceny and mendacity in support of its own interests. I understand the perception, but I suggest that it will mean that the U.S. will have to give up any pretension to “leadership”. What might it do next? A great part of the claim to leadership depends on “doing the right thing” in the great majority, and certainly the most important, of cases. You mention “Greece or the U.S. itself”. But how many other countries would create such a blatant rip-off? Telling investors they had to accept a 75% “haircut” or get nothing. That's not legitimate commercial practice, it's theft! And look at the rest of the “story”. How much has argieland spent in legal costs to argue abstruse legal points? How many lies has it told? Why does argieland find it necessary to descend to demonisation and invective? In my estimation, the United States is doing itself no favours. It may end being seen as on a par with argieland.
@9 I never said that I agreed with the US stance. Their motivations are based off their own issues with their own debt. However, I'm seeing a split within the US view as well. There are some that want to punish the insolent attitude that CFK has, and force her to pay up. The other side thinks it could compromise other “debt restructuring deals” which essentially taking away the opportunity to screw investors over.
Mar 06th, 2014 - 07:56 pm - Link - Report abuse 0The most pathetic part of it all, is that CFK is angry that she can't rip everyone off. The holdouts are asking for full compensation, so she calls them “pirates”. It's just sad.
The brief filed by the US addresses the central issue that Singer and his vulture buddies would like everyone to ignore. Argentina did not default on it's debt: they restructured it. Restructuring of un-payable debt is a common practice, what is uncommon is that in Argentina's case, the debtor restructured the debt on it own. Had the IMF or some other international bank or entity done the restructuring, there would have been no opening for these vultures.
Mar 07th, 2014 - 05:43 pm - Link - Report abuse 0The US could have gone further.
This case should never have been taken to a federal court. The original bonds were sold under the laws of the state of New York. If Singer and his scummy cohort really wanted so-called justice, they should have filed their petition before a court in the state of New York, not in a federal court that has its headquarters in New York. I'm sure they filed in the federal district court because they knew they would get a compliant judge. Mr. Griesa has fulfilled their wishes up to this point.
Don't be surprised if the US supreme court sends this case back to the State of New York Supreme Court. That would be the most just outcome.
#10/11.
Mar 07th, 2014 - 09:12 pm - Link - Report abuse 0My problem is with the word 'Restructuring'.
If it meant 'paying off all owed monies but over a longer period', I understand this concept;
but if it means keeping and spending the money loaned, just offering to pay back eg 10% of what you owe, then I consider it to be stealing.
Simplistic, I know; but I understand that if you borrow money you pay it back - everything else is theft.
11. There's a lot of stuff wrong in that post. You clearly don't have a good grasp on the US Court System or the English language.
Mar 08th, 2014 - 04:17 pm - Link - Report abuse 012. Hello Ge0ffWard2
Mar 08th, 2014 - 08:13 pm - Link - Report abuse 0Your attempt at making sense of restructuring is admirable. International financial laws and procedures SHOULD promote fairness and equity. However, most of these laws procedures simply enable thievery. Probably the worst thieves in this case were the Goldman Sachs bond traders who sold the original bonds to corrupt politicians in Argentina. Those guys must have known that the bonds would never get paid off, but once they got their commissions, they were out of the picture and now it's somebody else's problem.
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