MercoPress. South Atlantic News Agency
Griesa rules hedge funds entitled to details of recent Argentine bond offering and banks must comply
U.S. judge on Wednesday ruled that hedge funds suing over unpaid debt stemming from Argentina's 2002 default are entitled to details of a recent bond offering by Buenos Aires. Read full article
Comments
Disclaimer & comment rulesorganized crime: arg robberment - deutsche bank - and other banks.
Apr 23rd, 2015 - 09:50 am - Link - Report abuse 0trying everything to undermine court rulings.
My guess is these banks and or transfer houses are going to be unpleasantly surprised and may end up having to return the U$.
Apr 23rd, 2015 - 01:07 pm - Link - Report abuse 0It is astounding Argentina had to pay almost 9% to float these bonds! They can't afford that rate. It will bankrupt them...again. Its almost double what Bolivia and Kenya pay!!!
The system works.
“Argentina is isolated internationally.”
Apr 23rd, 2015 - 01:17 pm - Link - Report abuse 0Contrary to that myth, the country's last bond offer got strong international interest.
An initial offer attempting to sell half a billion ended up selling $1.4 billion. The funds will be going to a federal housing building plan.
The bonds are issued under Argentina law. Predictably, Judge Thomas Griesa has moved to see if those bonds can be blocked to reinforce the blockade attempted by the vultures.
Too bad Argentina can't be put on its knees again.
3. We'll see about that, you're often confused between the differences of the beginning and end of something.
Apr 23rd, 2015 - 01:22 pm - Link - Report abuse 0BTW the Kthugs are making bills that the next Prez can't pay. They don't care about the country only saving their own worthless skin.
Just like you.
@3
Apr 23rd, 2015 - 03:44 pm - Link - Report abuse 0Most of those funds will be going in the pockets of Christina's kronies.
THE BUFFET.
Apr 23rd, 2015 - 04:04 pm - Link - Report abuse 0When i read the lectures of some troglodits who have a title as economists, whose opinions are published in la nación mostly (espert, melconian, broda, and some others), i must confess i think that they aren't original in absolut. In fact, all those rabbles not only have always failed sistematicly in their reports, where they warned about future economic disasters, which fortunately have never happened, but also the only one advice that they have always expressed, is to make a hard cut on the national budget.
We usually hear the complaints of those cretins about the deficit, but they never take into account the int. context, which is a disaster since 2008, because of the financial crisis.
Our main trade partner (brasil) is on recession since more than 1 year ago, china, which is a great buyer of argentina, is growing less, and the prices of the commodities that we export are lowering.
In this pathetic int. scenario, if the state didn't keep on promoting rases of the salaries of workers, and those of retired people, and if it implemented the cut that those economists want, then it wouldn't be extrange if we had a number of unemployed people similar to the one of the 90's. They all know it perfectly, because they aren't neather ignorant, nor idiot.
Those are the same hypocrites who complain about inflation, but they reduce the problem to a question of monetary emission, when actualy the causes are much more relevant, in such an unbalanced economy like our's.
The good news is that reality gave those cretins and their followers a buffet AGAIN, due to the succes of the emission of the argentine bones.
Anyway, it's expectable that they continue to repeat that it's necesary to comply with griesas's usurious judgment, even despite it violates argentina law.
It's well known that mediocrity and selfishness have always existed, and these are the places that those people with such a law humanity can occupy.
This last development is bound to make very unhappy those who are betting on Argentina's failure. All the pressures of the worst of the world's speculative and greed financiers diligently helped by a NY judge have not been enough to isolate Argentina from the international capital markets.
Apr 23rd, 2015 - 04:07 pm - Link - Report abuse 0They could not dissuade JP Morgan and Deutsche Bank from seeking business opportunities in Argentina.
The $1.4 billion raised will go to improving the country's infrastructure and to make available decent housing for many more Argentines.
Of course, this can never be comprehended by doomsday prophets such as the Yankee above, who cannot see beyond their blind hate for a country that keeps shaking off its former submissive state.
http://www.ieco.clarin.com/economia/buitre-emision_0_1343866088.html
Apr 23rd, 2015 - 04:32 pm - Link - Report abuse 0Although the government is saying that there was no bank involved, the vulture funds are convinced that Deutsche Bank bought US $ 1 billion and BBVA, US $ 400 million.
Even more, there are speculations that the good purchased for Deutsche Bank will be paid in a correspondent account that Deutsche Bank Argentina in New York.
The Kswine/perronist dogs desperately require cash to keep their political clients satisfied and to finish feathering/funding their pending expatriations.
Apr 23rd, 2015 - 04:48 pm - Link - Report abuse 0@3. It's not on its knees. It's on its belly. Where it belongs. Argieland and various 'investors' will now have to produce satisfactory documents. What assets can now be seized? After all, argieland must be offering some sort of 'security'.
Apr 23rd, 2015 - 05:00 pm - Link - Report abuse 0@6. Thought you were a 'teacher'. Or have you been sacked for being a cretin? Picked one of your bits, 'it's necesary to comply with griesas's usurious judgment, even despite it violates argentina law.' The word is 'necessary'. Get it? Argieland's law is irrelevant. It owes US$1.66 billion. Going up every day. New York law applies. Pay up!
@7. Your interpretation is quite amusing. The US$1.4 billion is for Kirchner's purse. Even more amusing is when argieland defaults and the 'investors' sue. Argentina muere!
Excellent analysis by Axel at #6.
Apr 23rd, 2015 - 05:39 pm - Link - Report abuse 0I would add that this show of trust in Argentina destroys the idea the vulture funds and much of the international media attempted to install that the country is not to be trusted.
The international community has seen the Vulture affair just for what it is: an unreasonable maneuver to realize obscene profits, give a death blow to debt restructuring processes over the world, and teach a lesson to “bad kid Argentina” to avoid its experience to succeed and (OMG!) to spread.
Argentina haters cry--with reason.
Griesa Go, Go, Go!
Apr 23rd, 2015 - 05:58 pm - Link - Report abuse 0Oh dear, the midget still tells bare faced lies but as Clarin has pointed out Kickitoff has failed in everything he has done.
As for Axel Arg and Kiki Mashed Potato Head they maintain the standard for comedy!
There are haters packed well inside Argentina......typically those who work for a living. 40% inflation is staggering if you have to pay for food.
Apr 23rd, 2015 - 06:03 pm - Link - Report abuse 0Those of us who go to Argentina, have family living in Argentina certainly want to see this government fail for all the corruption they've created and the lack of good one can purchase inside of Argentina. Each trip there I feel like a smuggler as the request list of things to bring when I visit gets bigger and bigger. Do you have trouble getting anything in Argentina?
http://en.mercopress.com/2013/01/12/eleven-million-argentines-surviving-on-7-dollars-per-day-according-to-indec
I think and agree with my wife is that the most depressing thing when we are in Argentina is going into a grocery(supermercado) store after shopping in Whole Foods.
http://en.mercopress.com/2013/01/12/eleven-million-argentines-surviving-on-7-dollars-per-day-according-to-indec
For Argentine's living in Argentina........I hope for their sake.
http://www.cronista.com/economiapolitica/Bonar-24-la-mayoria-de-la-emision-fue-suscripta-por-inversores-externos-y-ya-se-acredito-en-reservas-20150423-0092.html
Apr 23rd, 2015 - 06:42 pm - Link - Report abuse 0“Bonar 24: la mayoría de la emisión fue suscripta por inversores externos ”
--------
Judge Griesa, it is your turn now!
These Kthugs act like such little children today Austral Elvis is running around like he just stole a cookie.
Apr 23rd, 2015 - 10:22 pm - Link - Report abuse 0I think he's going to get his bottom spanked..
and not by Crissy as usual
Venite chiquito.
Silly fools. They're ruining the country and the unwashed masses think its a good thing.
I can't wait until the last straw is put on that camel.
@6 axel arg
Apr 24th, 2015 - 12:12 am - Link - Report abuse 0Like Greece you mean.
@7 Enrique Massot
YB is correct, the yield (interest rate) paid, is usury in the extreme.
It remains to be seen if Judge Griesa can block this attempt to circumvent NY law, but he has won every round so far, convincingly.
JP Morgan and Deutsche Bank, are not going to argue with him that is for sure.
Your claims of a victory are somewhat premature.
@8 Holdout.from.Germany
Burn in hell.
@14 Holdout.from.Germany
Romanov goodbye, come the revolution.
@11
Apr 24th, 2015 - 04:16 am - Link - Report abuse 0You're confusing “trust” with “exorbitant interest rates”. The only reason you got anyone at all to lend you money was that you arte offering an interest rate that you will never afford to pay back. All you are doing is setting the stage for another default.
@7
You mentioned that the borrowed money will go to housing for the poor. That sounds humanitarian, but the reality of it is, that is not going to increase productivity of your economy, it is only going to get poor people to vote for your Whacky leadership once again.
I hope they win. Then they will have to deal with the bills coming due once again...
16 Pugol-H
Apr 24th, 2015 - 01:16 pm - Link - Report abuse 0Yes the interest rate is higher than it should be, but given the current situation I guess this is the best rate the country may get. This will improve once Griesa is out of the picture. I know he is now looking at ways to get Argentina, but the Bonar 2024 money is already in the Central Bank.
ENRIQUE MASSOT.
Apr 24th, 2015 - 03:28 pm - Link - Report abuse 0(11) Thank you.
Reekie praising the stupidest poster on MP.
Apr 24th, 2015 - 06:50 pm - Link - Report abuse 0Figures.
I thought Axel's posting was excellent. After reading Yank above I believe Axel's posting is outstanding.
Apr 24th, 2015 - 11:45 pm - Link - Report abuse 0Acel's post was far from excellent.
Apr 25th, 2015 - 10:56 am - Link - Report abuse 0He is at least consistent.
His understanding of economics is rudimentary and his knowledge of the world severely deficient.
Argentina has been lying about its economy for years and the GFC can't be blamed for its slowing economy when countries such as Brazik and China ha e only started tanking in the past 2 years and not 7 years ago as he tried to impress.
He then fails to look at the cases of countries that did go through austerity such as the U.S. NZ and UK and how their economies are now emerging stronger just when Argentina's is failing.
Enrique of you think that his post was excellent then that is more a reflection on both your and Axel's abilities and the Argentinean education system than anything else.
SKIP.
Apr 26th, 2015 - 03:38 pm - Link - Report abuse 0It's too evident that many of you know so litte about argentina's situation, which in some way justifiies the ignorant comparisons that some of you do with other countries.
Although some people in this forum don't accept it, everything i said in my comment (7), is based on objetive facts, not on mischievous hypothesis.
The truth is that since 2008, the world scenario in economic terms is really mediocre. The difference among all countries is that many of them have applied hard austerity plans, or something similar, and other nations have tried to keep on including people who were excluded from the sistem, despite the pathetic world context.
In the case of argentina, our main trade partners in the last years aren't going well, beside, the prices of the commodities that we export are lowering, then , it's not necesary to be so smart to realize that this situation was going to prejudice our trade and our economic growth.
In this kind of context, if the state didn't keep on taking the actions i described in my other comment, and if it implemented the hard cuts that those sons of a bitch economists, who often advice to make hard cuts on our national budget, we would have high levels of unemployment, like in the 90's. Beside, it's necesary to look for other markets too.
On the other hand, the same countries that criticise the argentine protectionism, are also included in the list of the 10 most protectionist countries of the world, like argntina, then, the so called free market is just an idiot myth. We would be too stupid if we ignored that powerful nations don't pretend to export to argentina, the products that they can't sell in their nations, because of the crisis, which is something that would prejudice our industries.
@ 23 axel arghhh!
Apr 26th, 2015 - 06:21 pm - Link - Report abuse 0Oh dear, you really don't understand why the auto industry in TDC is in the shitter, do you?
Besides not being able to get their money out of your damn, troublemaking country, the automakers CANNOT get their own goods IN! So all the component parts which are made elsewhere and used in cars in a number of countries are NOT available to finish cars assembled in TDC!
Result: THOUSANDS of party completed cars and vans parked up in the automakers yards until some argie cunt in some backwater office is allowed to release the.
And you defend this stupid, stupid activity. IDIOTA!
Peace (of a steel tube up your culo), you know you DESERVE it!
Why do Argentinian posters keep on going on about how wonderful and strong their country is, how independent they are and how they don't need other countries and how the countries problems are due to a financial crises in other countries.
Apr 26th, 2015 - 07:11 pm - Link - Report abuse 0If only they admitted their country was in the shitter and needed help perhaps they would get a more sympathetic hearing. Arrogance only works if you have something to back it up.
#23 Axel
Apr 27th, 2015 - 06:32 am - Link - Report abuse 0Please don't mind the uneducated responses and keep writing your informative postings about Argentina.
Your posting explained what a government practicing social inclusion does to attenuate the effects of a sluggish world situation and keep the country's economy going. Uneducated persons like the two above are simply unable get around that concept.
They can't stand the fact that our country is playing “pito catalán” to one of our former imperial masters--keeping its dignified position and worst...getting away with it!
Because they wish Argentina the worst, they are fuming seeing foreign investors disregarding the efforts of Paul Singer and his friendly judge Thomas Griesa and rallying to purchase almost $3 billion in bonds issued by the government and our recuperated YPF.
From afar, I feel very proud about my home country, its government and citizens like you who advocate, even in hostile forums like this one. Don't give up.
Were you from the city Enrique, did you get a chance to vote? Almost 48% for the PRO. Perhaps there will be no run offs.
Apr 27th, 2015 - 12:56 pm - Link - Report abuse 0Pobrecito Recalde.....hehehe
@ 23 axel arg
Apr 27th, 2015 - 04:14 pm - Link - Report abuse 0So when does the economic growth start to increase, to be able to pay for the current level of expenditure.
At the moment you are now borrowing at very high rates to cover the cost, even you must realise that this is unsustainable in the medium, never mind long term.
Either the economy improves rapidly or the expenditure + debt interest payments will break the country, again.
Its people like Axel and Enrique that have let Argentina go from 1st world civiled country to a 3rd world basket case in only 3 generations.
Apr 27th, 2015 - 08:32 pm - Link - Report abuse 0The only country devolving in the World.
The only one.
There's a Tsunami of Inflation coming.
I can't wait until it hits
and people can't buy fuel.
I will laugh and laugh at all the Kidiots on this forum.
laugh and laugh
Hateful little people such as the Yank above are unable to even start to comprehend the deep transformation Argentina is enduring, from a high-debt country with its productive structure destroyed or sold for peanuts, to a proud and dignified country with a solid, productive economy.
Apr 28th, 2015 - 04:40 am - Link - Report abuse 0Inflation? Yes. Is it the only economic indicator? No!
Yankeeboy faces a long time waiting to laugh at an hyperinflation that did kill the Alfonsin government. Not this time. Cry, baby!
The only positive transformation will begin when Macri wins the presidency.
Apr 28th, 2015 - 10:34 am - Link - Report abuse 0Why did you borrow money?
Why did you sell, are your kind too stupid to negotiate? How can you call that a productive economy? Things will alright, when asslips is out of office.
Reekie, You're either stupid or blind.
Apr 30th, 2015 - 03:47 pm - Link - Report abuse 0Maybe both.
Kthugs have gotten Argentina into such a mess financially I don't think anyone can fix it now.
Maybe Macri with a HUGE IMF loan
but probably not.
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