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Montevideo, September 27th 2023 - 06:36 UTC



Holdouts open new front in dispute with Argentina: officials dramatic increase in their personal wealth

Thursday, February 12th 2015 - 06:02 UTC
Full article 35 comments

US holders of defaulted Argentine bonds have stepped up their campaign for full repayment of their loans by detailing how 14 senior Argentine officials experienced “dramatic and often unexplained increases” in their personal wealth during service in the Kirchner administrations. Read full article


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  • Skip

    All your Argentineans.... that is your money they took!

    Paying the price for being sycophants.

    Feb 12th, 2015 - 06:27 am - Link - Report abuse 0
  • LEPRecon

    @1 Skip

    Yup, the general public has just stood by and watched as this bunch of crooks in government did exactly what the last bunch of crooks in government did and rob them blind.

    In fact you'd've thought that they'd've caught onto the fact that successive governments have been robbing the country blind and destroying any future that they could have, wouldn't you?

    But no. Most Argentines don't care until the moment it actually impinges on their life, or are secretly hoping that next time will be their turn at the trough.

    It's a pity because Argentina should be the top economy in South America, and could be one of the top economies in the world, but all of it is thrown away because of massive corruption that pervades their society and the apathy, and in some cases the collusion, of the general public.

    But good on the holdouts going after the greedy piggies and showing them up for what they are.

    Feb 12th, 2015 - 06:41 am - Link - Report abuse 0
  • La Patria

    Many Argentines will look at this report and shrug their shoulders saying they would do the same if they were in those positions. That's the root of the problem in the's as if it'd be rude not to be corrupt when in politics.

    Feb 12th, 2015 - 07:24 am - Link - Report abuse 0
  • Brit Bob

    Corrupt officials and an illegitimate sovereignty claim.

    Feb 12th, 2015 - 08:41 am - Link - Report abuse 0
  • willi1

    “...The question is Argentina’s leaders clearly don’t want to live with the mess they have created but what about the people of Argentina who have to live with this mess?...”
    This was exactly the situation in the DDR - 40 years East German communism mess. the criminal bosses had a good life, they could eliminate the people who were uncomfortable for them. they kept them in poverty with a currency whithout any value in the rest of the world. they scrapped the industries and the private housing and the environment. after they were beaten they blamed “the west” for all their crimes.
    the ck-gang has learned their lections from them. like Greece from arg now.

    Feb 12th, 2015 - 09:16 am - Link - Report abuse 0
  • ChrisR

    'Pistol Pete' Moreno: what a blast from the past! I thought he had been 'suicided' on TMBOA instructions to keep his mouth shut.

    This, like everything else that the western countries abhor about TDC, won't change a damn thing.

    Feb 12th, 2015 - 10:23 am - Link - Report abuse 0
  • chronic

    Nothing to see here - move along. lol. The rotting roadkillians would think it wrong if the government officials weren't looting rotting road kill. Hell, they don't care. They just want their place at the trough.

    This is nothing. If you want to see real looting - go to russia. putin's rise in wealth via government is spectacular. Pauper to billionare are on a government salary.

    In cretina's defense: She could have stole more if the country if the country were richer.

    Feb 12th, 2015 - 10:27 am - Link - Report abuse 0
  • Jonaz_BsAs

    @7 Don't worry, she has stolen MUCH more:
    What is reported as increase in patrimonial wealth of each of these crooks is only the pocket change they didn't bother to send to offshore accounts.

    Somewhere between 5 and 12 bn USD has been stolen by the K inner circle (Nestor + Cristina, De Vido, Jaime, Cristobal Lopez, Alberto Fernández etc ) during 'la década ganada'.

    Feb 12th, 2015 - 01:40 pm - Link - Report abuse 0
  • Vestige

    Strengthen your rival, always a good tactic.

    Feb 12th, 2015 - 02:07 pm - Link - Report abuse 0
  • Artillero 601

    Cris just took 10 b .... that's all :-)

    Feb 12th, 2015 - 02:19 pm - Link - Report abuse 0
  • Conqueror

    @8. If argies had any GUTS, they'd enter the Casa Rosada with Kalashnikovs at the ready. But, of course, argies are GUTLESS. As proved by British troops in 1982. Unfortunately, prior warning wasn't given, so the British couldn't time the world records for sprint events. Also the long jump as argies leapt over landmines. I now understand why our troops took 11,313 argie PoW cowards as prisoners. More drains on non-existent argie 'money'.

    Simple consideration. In a democracy and a republic doesn't the 'government' apply the will of the people? Didn't the crims you voted for do what you wanted? Is your life as good as that of the crims? And your excuse for not executing the crims is.......?

    Feb 12th, 2015 - 02:20 pm - Link - Report abuse 0
  • Enrique Massot

    “...they have aggrandized their own wealth while the economic conditions of the people have deteriorated,” said Robert J Shapiro, co-chair of the ATFA.
    Okay. So, the vultures who were trying Argentina to pay them last year when the RUFO clause would have meant the crumbling of Argentina's debt restructuring process are accusing members of the Argentina government to have increased their wealth...por favor!
    And then Mercopress comes with a pearl of its own:
    ”The report did not cite President Cristina Fernandez own spectacular increase in wealth, the subject to several investigations in Argentina, or that of her vice-president Amado Boudou, who is facing trial after being formally indicted over his role in a corruption scandal.“
    Mercopress: there is a reason Boudou wasn't named. Apparently, many years ago Boudou sold a car second hand. The ”gestor” a person who does paperwork for others for a fee, apparently forged Boudou's signature on one of the transaction documents. That's it.

    Feb 12th, 2015 - 02:24 pm - Link - Report abuse 0
  • Captain Poppy

    I wonder in the Human Rights Secretary experienced any wealth increases.
    This guy, Juan Martín Fresneda who Argentina appointed as they Human Rights Secretariat served 10 years in prison for rape. Such qualifications for human rights. You can't make this shit up....really.

    Road Killians........PAY ALL YOUR DEBTS.

    Feb 12th, 2015 - 02:34 pm - Link - Report abuse 0
  • Enrique Massot

    I am so much relieved that the vultures now believe excessive enrichment as something bad. Perhaps they'll reconsider giving back some of the money they “legally” extorted from countries such as Peru or Congo.

    Feb 12th, 2015 - 04:13 pm - Link - Report abuse 0
  • golfcronie

    @ 14
    Where did you read “ the vultures now believe excessive enrichment as something bad ” would you please post a link to that.

    Feb 12th, 2015 - 04:26 pm - Link - Report abuse 0
  • Skip

    Hmm Enrique equates government corruption and enrichment with someone enforcing a contract......

    Argentinean education much?

    Feb 12th, 2015 - 04:30 pm - Link - Report abuse 0
  • Troy Tempest

    The “Holdouts” are only asking for face value of the bonds issued by Argentina - a bond is a 'contract to pay an agreed amount' as specified by the bonds themselves, a promise by the issuer, Argentina.

    Argentina had already received money, and was obligated to pay it back, in full.

    Which they did not do.

    Feb 12th, 2015 - 05:20 pm - Link - Report abuse 0
  • Conqueror

    @12. Hi, thicko. Think we've forgotten? The RUFO clause doesn't apply to an action required by a court of law with jurisdiction. RUFO applies to 'offers', thicko.
    Wow! Boudou is innocent? Just like Hitler! Always good to see an argie dipstick equating a minor infringement of whatever 'law' argieland thinks it has to a US$18 billion fraud.

    Feb 12th, 2015 - 05:23 pm - Link - Report abuse 0
  • chronic

    14. Trolley:

    If you steal it - its theft.

    If you collect what is owed you - it's good business.

    Feb 12th, 2015 - 05:30 pm - Link - Report abuse 0
  • Jonaz_BsAs

    Your comment is simplistic, etnocentric and without any reference to history. A coup d`etat - like Argentina has experienced several of - would surely only lengthen Argentina's progress towards being a real democracy.

    A lack of guts, you say? Rather a semblance of wisdom. Smart people know that it will take decades to fix Argentina without violence but centuries to achieve the same through violence.

    You seem to be unaware of UKs history with regards to corruption: The country was highly corrupt only a couple of hundreds years ago. The fact of the matter is that it is extremely difficult to develop a well-functioning democracy. It takes generations upon generations.

    Feb 12th, 2015 - 06:04 pm - Link - Report abuse 0
  • chronic

    ”8. @7 Don't worry, she has stolen MUCH more: What is reported as increase in patrimonial wealth of each of these crooks is only the pocket change they didn't bother to send to offshore accounts. Somewhere between 5 and 12 bn USD has been stolen by the K inner circle (Nestor + Cristina, De Vido, Jaime, Cristobal Lopez, Alberto Fernández etc ) during 'la década ganada'.”

    lol. Eight years ago the CIA estimated vladimir putin's personal wealth at $40 billion U.S.. Like I said, don't blame her for her lack of acheivement. She didn't have much to work with.

    20. You can't change the DNA's predilection towards depravity. You've obviously never been to Sicily. (lol.) Or Sweden for contrast.

    Feb 12th, 2015 - 06:15 pm - Link - Report abuse 0
  • yankeeboy

    20. What makes me crazy about Rgs is they have had the amount of time +/- a couple decades as the USA.
    Stop whining and do something about the criminal knuckle draggers making the citizens poorer and dumber with every generation.

    Apathy is killing your country.

    Feb 12th, 2015 - 07:02 pm - Link - Report abuse 0
  • Jmackiej

    The Kirchener administration should be heartily congratulated for all theor efforts. Whilst lining their pockets they have turned Argentina into a basket case, made its people a laughing stock, behaved like gangsters, stole their wealth and made their army , airforce and navy look impotent. Three cheers for Christina hip hip hooray.

    Feb 12th, 2015 - 10:46 pm - Link - Report abuse 0
  • Tarquin Fin

    @22 We had about 4 decades less than the US. And a lot of decades more than Australia or Canada.

    What made us different was the tight grip on society that the Catholic Church had for most of the 19th century.

    Feb 12th, 2015 - 11:51 pm - Link - Report abuse 0
  • Captain Poppy

    #23 One note about them acting like gangsters; they can only exert their will and force within their gang because they are impotent outside of their circle out and about in the rest of the world. To the world.....they are nothing but ill mannered teenagers who will never mature.

    Feb 13th, 2015 - 01:33 am - Link - Report abuse 0

    4,000 % increase.

    Look to these criminals begging for an edict in the future that prevents them from being charged, or trialed while in office, and after leaving office.

    Sobbing and wailing wildly as they wipe their teary eyes with stolen money falling out of their pockets, they will say “ We deserve it for all the troubles we had to endure from the Yanquis', Bondholders, and Top Gear personalities while we served our country. ” ( Boo-hoo, sniff sniff, and call my banker on my private line, immediately !!! )

    And speaking of leaving office, that is usually heralded by a “goodwill tour ” of nations, which conveniently allows these looters the ability to count their ill-gotten gains, and move it around in hiding into more offshore investments.

    By recent events reported here on MERCOSUR PRESS, this appears to be the LATAM way of things.

    Just remember Sr. Lanata:

    1. Follow the money.

    2. A Truth Commission is coming.

    Feb 13th, 2015 - 01:56 am - Link - Report abuse 0
  • Tarquin Fin



    Feb 13th, 2015 - 04:03 am - Link - Report abuse 0
  • yankeeboy

    Venezuela is #1 on the Latin America Misery Index
    Argentina is #2

    Why do they let it go on?
    A dangerous combination of Apathy, Stupidity and Corruption.

    Feb 13th, 2015 - 11:30 am - Link - Report abuse 0
  • Jonaz_BsAs

    Yep, widespread ignorance is the key factor to Argentina's ills. The political class in Argentina keeps on purpose 1/3 of the country's population in complete ignorance so as to manipulate them into voting for the Peronista party by default. The next 1/3 of the country is a mix of special interest groups; public “servants” aka ñoquis, truck drivers, doormen etc who are backed by powerful mafia unions. The last third are the people who actually produce anything of value; farmers and professionals such as engineers and doctors.

    As long as politicians are able to divide and conquer these three groups and stack them against each other, Argentina will not progress. It's a tragedy, but only outsiders with little or no knowledge believe this can be solved through violence.

    Have you forgotten about Iraq already? You yanks made a fine mess out of that country, due to a etnocentric “common sense” - another form of ignorance which particularly prevails within the GOP. “They'll greet us as liberators” - yeah right..

    Feb 13th, 2015 - 12:51 pm - Link - Report abuse 0
  • Tarquin Fin

    @29 Jonaz, that is quite an impressive an accurate snapshot of Argentinian society.

    Feb 13th, 2015 - 03:27 pm - Link - Report abuse 0
  • Klingon

    @29 Yes, I agree with you 100%

    Feb 13th, 2015 - 04:13 pm - Link - Report abuse 0
  • chronic

    29. Another troll decloaks.

    Feb 13th, 2015 - 07:25 pm - Link - Report abuse 0
  • Tarquin Fin

    @32 So according to you, what makes Jonaz a troll? Is it the way he grouped Argentinas inhabitants? Or is it because he has a different opinion about the Iraq war?

    Just curious.

    Feb 13th, 2015 - 07:31 pm - Link - Report abuse 0
  • brucey-babe

    No comment paulcedron ?

    Feb 13th, 2015 - 10:11 pm - Link - Report abuse 0
  • Captain Poppy

    Pablo is wearing Dany's shoe's lately.....occassionally Stevie

    Feb 14th, 2015 - 02:12 pm - Link - Report abuse 0

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