Wednesday, June 18, 2014

Argentina (and YOU!) vs Vulture Hedge Funds


3 comments:

Anonymous said...

Thanks Ferfal. I looked up some of the original court documents and it was very interesting. (They can be accessed searching for the 2nd district court of appeals' website and looking at their decisions.)

It got me doing a lot of reading on the subject and it brings up very interesting thoughts. Is a country responsible for a debt of a previous government, etc.

Don Williams said...


1) Most of Argentina's debt was incurred by the military junta ( 1976-1983 ) and by Argentine billionaires' Neoliberal scumbag Carlos Menem ( 1989-Dec 1999 ).

http://www.thehindubusinessline.com/multimedia/dynamic/01337/bl22_macroscan_cha_1337433g.jpg


2) The money that came in under Menem went to Argentina's billionaires as a Wall Street Style bailout at the same time Argentina's national treasures were being given to them at fire sale prices as a faux "privatization". The money then flowed back out to foreign accounts while the common citizen was left holding the bag. I sympathise -- I and my fellow Americans are currently being screwed in the same manner.

http://prospect.org/article/stop-press


3) If Washington could argue in 2003 for canceling $100 billion in Iraqi debt owed to France etc due to past loans to Saddam Hussein, then it surely should dismiss the similar Odious Debt made by US banks to Argentina back when Henry Kissinger was giving the Junta a green light to execute the Dirty War:

http://www.cgdev.org/doc/event%20docs/5.15.03-Iraq/IraqFT-Kremer.pdf

http://www2.gwu.edu/~nsarchiv/NSAEBB/NSAEBB104/index.htm

4) Duke University is one of the USA's top universities. Here is an argument from one of its professors for why Odious Debt should be made invalid:

http://scholarship.law.duke.edu/cgi/viewcontent.cgi?article=2563&context=faculty_scholarship

5) To see how the US taxpayers made Paul Singer rich via the 2008 Bailout, see

http://www.thenation.com/article/170643/mr-singer-and-mr-ryan#

Hey, Tea Party --say it ain't so!
And who did Romney choose as his Vice Presidential candidate?

Looks to me like the "Free Market" costs a few million in campaign donations --but they can give a 1000% return.

Don Williams said...

Things might get interesting if Argentina talks with Putin and China:

http://voiceofrussia.com/2014_06_18/Putins-aide-proposes-anti-dollar-alliance-to-force-US-to-end-Ukraines-civil-war-8030/