MercoPress. South Atlantic News Agency
Paul Singer praises Macri but warns about negative impact from Collective Action Clauses
Financier Paul Singer again took to the US media to celebrate Argentine President Mauricio Macri’s decision to settle with the so-called “speculative” creditors, including Singer’s own Elliott Management, with an article in the Wall Street Journal heaping praise on his business-friendly approach and willingness to negotiate with the holdouts. Read full article
Comments
Disclaimer & comment rulesSinger doing another lap of honour
Apr 27th, 2016 - 11:13 am - Link - Report abuse 0Macri in his pocket
K thugs on trial
yankeeboy happy
Tick tock.
Apr 27th, 2016 - 11:53 am - Link - Report abuse 0Tickety tock
Apr 27th, 2016 - 12:05 pm - Link - Report abuse 0Everyone seems quite happy.
Apr 27th, 2016 - 12:30 pm - Link - Report abuse 0Why didn't anyone predict that?
4. Skippy
Apr 27th, 2016 - 12:36 pm - Link - Report abuse 0I am always happy
No need to predict it
Skip along now.
Indeed.
Apr 27th, 2016 - 12:41 pm - Link - Report abuse 0Collective [ Santa ] Clauses ??
Apr 27th, 2016 - 01:01 pm - Link - Report abuse 0“ Don’t Laugh For Me: Why Argentina’s Bond Market Fairy Tale Is Just That”
Apr 27th, 2016 - 01:07 pm - Link - Report abuse 0https://fronteranews.com/news/latam/argentina-make-believe-happy-ever-after/
Another observation that the current government has no real plan.
Yep. Strategic planning is non existent.
Apr 27th, 2016 - 01:43 pm - Link - Report abuse 0Macaroni seems only to exist on a reactionary plane.
I continue to be impressed at the lack of exceptional talent that rg has access to.
Tick tock.
Surprise surprise! Paul Singer doesn't like the collective action clauses that could put in risk operations as profitable as the one he and others did in Argentina! What's next? A crowd funding operation to help vultures deprived of their carrion?
Apr 27th, 2016 - 03:01 pm - Link - Report abuse 0Of course, the seal chorus above avoid commenting on the subject and prefer to resort to their usual nonsense or stereotypical cliches.
Reeeeeeekie, let them pay their debts and be free!
Apr 27th, 2016 - 03:03 pm - Link - Report abuse 0Tick tock.
“In the absence of enforceability, the bonds of sovereigns with questionable credit ...“
Apr 27th, 2016 - 11:36 pm - Link - Report abuse 0Not naming any names.
Maybe should be written as :
“In the absence of enforceability, the bonds of renegade sovereigns who are historically serial defaulters......”
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Reekie, should we explain for you the tremendous public service that came out of Singer's work? How thousands and thousands of Argentine pensioners and investors are finally to be paid?
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In Argentina's case, even the presence of CACs is unlikely to provide any sort of meaningful enforceability, since Argentina has repeatedly indicated its inveterate unwillingness to abide by contract obligations when it's inconvenient or cloudy on a Tuesday. So for the next coming-soon default and restructuring, let's say that the required supermajority determines the new terms should pay on 70 percent of original capital at 6 percent over 30 years. Argentina, ever Argentina, says hell no, We Are Sovereign, which in our language means that we don't have to abide by contract terms or vultures' terms, so we'll see this restructuring by reducing the capital basis to just 30 percent of the original and pay 2.5% on that over 40 years. And patria o buitres and you can take it or leave it.
And then some Pablo Singer IV comes along and starts some seizure actions and.... we've already seen this movie.
So, when is Singer going to return US taxpayers' money?
Apr 28th, 2016 - 03:00 am - Link - Report abuse 0“...return US taxpayers' money?”
Apr 28th, 2016 - 06:51 am - Link - Report abuse 0Hmmmm about 25 years I think is the going rate!
Reminds me of “be careful what you wish for”
Apr 28th, 2016 - 11:59 am - Link - Report abuse 0“when is Singer going to return US taxpayers' money?”
May 01st, 2016 - 06:01 pm - Link - Report abuse 0around the time when the British Falkland Islands are returned to Norway.
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