Argentina's Debt And The "fondos Buitres"

[Davidglen77]

I know some people in this forum are going to attack my point of view here, but I don't agree with the position of the defaulted bondholders wanting to collect 100% of the bond's value plus interest on the purchase of Argentina's defaulted bonds. I have started a petition to ask the supreme court chief of justice of the United States to review the case. Those of you who agree with my position please feel free to sign and those who don't I am totally open to your criticism, jokes, insults and opinions. That is part of living in a democracy. For those who think my position is pro-Cristina, in this case it's really not, it's pro-Argentine society.

https://www.change.org/petitions/la-corte-suprema-de-los-eeuu-revisar-el-fallo-del-juez-griesa-a-favor-de-los-fondos-buitres-the-united-states-supreme-court?share_id=muQJaTlfqX^utm_campaign=autopublish^utm_medium=facebook^utm_so

 

[Tshalloe]

I totally agree. They are vulture funds because many of them bought those bonds between 2003 and 2008, years after they had already been defaulted on, for "precio vil" as they say in Spanish. They knew what they were doing, and now they act like they´re out of Money, It hasn't only happened to Argentina, countries like Liberia have a rough history with vulture funds as well. And now with the European financial crisis, any country could default on their loans, and of course there will be some Vultures there to pick up their cheap bonds and when their economies recover, they'll come in and ask for 1000% of what they paid for.The ruling will set a precedent in international finance law.

 

[ajoknoblauch]

Whether it's fair or not, Argentina needs to learn when to stop digging itself deeper into the hole - not the hole of more debt per se, but the rhetorical excess that that's roughly comparable to a murder suspect saying "I didn't kill him, but I'd do it again!" That's not the way to gain influence in the courts or any other serious institution. There's no guarantee, by the way, that the US Supreme Court will even take the case, which would let the current decision stand.

 

[French jurist]

signed!

 

[Tshalloe]

Yo también la firmé!

 

[Davidglen77]

Sometimes investors have to take a haircut. I am fully aware that Argentina issued those bonds, there is no dispute on that point. However, a bond, stock, certificate of deposit is an investment, which ALL have a level of risk involved. And the interest rate offered is based on that calculated risk. Even a savings account has a certain level of risk - you put your money in the bank, the bank fails, and you will lose the amount above and beyond what the deposit insurance covers. In this case, these bonds were DEFAULTED and they were purchased WAY below face value, and while there is nothing wrong with a return on your investment, to do what NML Capital, Elliot Investments and Paul Singer has done is downright tragic. They have the option of making a handsome profit on their investment.......but want a 1300% profit - sounds like greed to me. You can argue this point until the end of time, but money is what drives these people, millions aren't enough anymore, now it's billions or nothing.

 

[ghost]

it's wonderful to dream but the supremes ain't gonna take this thing. Ever. Nada. Squat. It's not their job.

 

[Rich One]

You buy a defaulted bond at precio vil....jajjajaj Why was the precio so low....? because of the high risk....!! yes The higher the risk the lower the value.... if not ask Mike Milken....!! king of the trash bonds.

The investors that bought Bank of America stock at $·2 during the 2008 crisis can be considered Vultures?? should they resign their gains .... jjajaaj Current value $14,2....!!

 

[samiamm]

You buy a defaulted bond at precio vil....jajjajaj Why was the precio so low....? because of the high risk....!! yes The higher the risk the lower the value.... if not ask Mike Milken....!! king of the trash bonds.

The investors that bought Bank of America stock at $·2 during the 2008 crisis can be considered Vultures?? should they resign their gains .... jjajaaj Current value $14,2....!!

You are very wise Rich one you think but millions in Argentina are suffering because of people like you with the attitude of eating at the bones of a diseased cow . Argentina is broke dead broke and still they want to squeeze the last drop of milk from the sick and dying cow.

 

[internationalguy]

Argentina is broke dead broke, Europe is broke dead broke, the US and 16 trillion don't exactly escape the concept. People should be worrying more about the long term future instead of squeezing the last drop of milk from Argentina. The only good thing going for Argentina is that when the global financial system really collapses, it's so freaking isolated that it might actually be good for the country. On top of that few countries in the world have the natural resources and the ability to produce 100% of it's own food.