Argentina's bonds dispute: Judge Griesa delays a week a Citigroup hearing

Saturday, October 25th 2014 - 10:02 UTC

Full article 11 comments

U.S. District Judge Thomas Griesa has delayed by a week a December hearing to consider whether Citigroup Inc should be allowed to process an interest payment by Argentina on bonds issued under its local laws following its 2002 default. Read full article

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yankeeboy
I think its time Griesa gave the U$500M+ at BONY to NML.
I wonder what's taking so long?
Oct 25th, 2014 - 11:33 am - Link - Report abuse 0
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Conqueror
@1. A thought. If Griesa awards the US$539 million to NML et al, what happens about the interest due? Shouldn't Griesa move the dosh to a court-controlled secure storage? Is it any more than a tiny scrap of paper or a line on a computer screen? As long as it's out of argie reach!
Oct 25th, 2014 - 11:50 am - Link - Report abuse 0
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Enrique Massot
I wouldn't want to be in Judge Griesa's shoes. He faces a difficult task making Argentina comply with his rulings. He has already allowed Citi “for this time only” to process payments (twice!). He is now trying to gain time because he is in a bind.
For a country in (technical) default, Argentina's economy keeps chugging along as nicely as its new communications satellite, in spite of the howls of an increasingly desperate opposition.
Pity the poor judge.
Oct 26th, 2014 - 06:58 am - Link - Report abuse 0
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Conqueror
@3. http://en.mercopress.com/2014/10/24/argentine-economic-activity-slumps-1.2-in-august-reveal-official-stats#comments Isn't that an Indec figure? So it's about half the real one.
It's quite 'easy' to chug along downhill. How's the inflation? How you love to lie to yourselves.
Oct 26th, 2014 - 10:18 am - Link - Report abuse 0
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yankeeboy
3. I think you may have the chart upside down. Argentina is sliding into a deep recession, 50% inflation, ever depreciating peso, Federal Gov't absorbing over 2MM unemployed people in the last 3yrs.

I think Griesa likes playing with Argentina. What else does he have to do?
I know I would love it.
Of course I would have given the holdouts the money at BONY already.

Crissy is going ot squeal like a stuck pig when that happens.
Oct 26th, 2014 - 12:46 pm - Link - Report abuse 0
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Don Alberto
Enrique Massot does not live in Argentina, he is sponging on some first world country. Everything he “knows” about the country is from reading government propaganda and he has been shown to be completely fact resistant.
Oct 26th, 2014 - 07:29 pm - Link - Report abuse 0
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ilsen
@ 6
Enrique lives in Canada. He does have good taste in gentleman's headgear though, but has obviously grown used to the creature comforts to be found there.
Got a bit soft I would speculate. Champagne socialism does that to a chap.
;-)
Oct 26th, 2014 - 07:52 pm - Link - Report abuse 0
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Don Alberto
@ #6 :-D

“Champagne socialism does that to a chap”.

It would seem so. Poor Enrique believes in the Argentine government propaganda, but either refuses to read, or is unable to understand, the contents of contracts, prospects, judgements and legal rulings when presented to him with sources.
Oct 26th, 2014 - 10:21 pm - Link - Report abuse 0
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Conqueror
@7. Why do so many argies head for Canada? Any idea where in Canada? Is it a reincarnation of 'vargas'? Or did vargas lose it during a drugs run? Doesn't the Canadian government have an immigration policy? Work on the basis of only humans. At best, only 1 in 40 argies would meet such a criteria.
Oct 27th, 2014 - 05:03 pm - Link - Report abuse 0
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british bomber
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at 1

This is why they can not.

http://www.businessweek.com/news/2014-10-27/italian-creditors-lose-bid-to-seize-argentina-payment

Dumb yank. Your robber barons can not steal other peoples' money. You are so stupid.
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Oct 29th, 2014 - 04:21 am - Link - Report abuse 0
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yankeeboy
THe next week could be interesting;
Cross Default
Acceleration of “hold-in” bonds
Holdout Dart Bonds adding on to the NML judgement

And that's just next week.
Bahahahhaaaaa
Oct 30th, 2014 - 12:18 pm - Link - Report abuse 0
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