Argentina Revokes Bank Of New York's Authorization

[EdRooney]

The banks might get scared away? Is there any way we can scare them out of the US too?

 

[mimyr]

The banks might get scared away? Is there any way we can scare them out of the US too?

 

[ARbound]

They probably did Bank of New York a favor. What US bank/ company really wants to do business in a country with such corruption, devaluation and instability anyway?

I was thinking the same thing, sometimes the chance for profit isn't worth all the headache associated with the BS that is Argentina's government, I may think banks are generally bad but what's worse is a country where the government can make laws via a newspaper posting, try having to abide by that.

BOA pulled up roots in the 2000s, sold off the old Bank of Boston assets if I remember correctly.

 

[MDZ]

They probably did Bank of New York a favor. What US bank/ company really wants to do business in a country with such corruption, devaluation and instability anyway?

Right ... banks - and especially American banks - only like to do business in countries without corruption. Also they would never launder money - not even for narcos in Mexico.

 

[ghost]

BONY hasn't doe any business in AR since forever. BofA pulled out, Parribas pulled out and about 6 others in the recent past. Banking is a strange business that relies on the flow of capital. Usually in two or more directions. In AR capital only flows in one direction.