Pay Your Debt Cfk

[ajoknoblauch]

Conservative court. Would be great theater if Scalia and CFK could square off.
Court ruling:

http://www.shearman....it_Decision.pdf

I would like to see Scalia v. Moreno (hoping for a double knockout).

 

[Gringoboy]

C'mon, how can you expect her to pay when Arg is doing better than most first world countries.
Give the girl a break.

 

[internationalguy]

C'mon, how can you expect her to pay when Arg is doing better than most first world countries.
Give the girl a break.

Again, I'm not defending CFK (I need to make that very clear as forum misunderstandings are rampant), but you all seem to forget that our first world countries are actually doing terribly. It's not the time to think we're setting the bar that high anyway.

 

[ARbound]

I think I finally made up how I feel on this one, and it's been mulling in my mind since I got here and heard more about it.
From what I understand, this is what's going on.

- Argentina defaulted on bonds
- The original purchasers didn't believe Argentina would/be able to repay it
- The original purchasers sold the debt to a predatory hedge fund(s)
- The hedge fund(s) were offered (twice) payments (albeit pennies on the dollar) for the debt
- The hedge fund(s) said no, sued wanting face value
- Courts ruled in favor of the hedge fund(s)
- Another court ruled in favor of the hedge fund(s), but upheld a stay of enforcement pending SCOTUS appeal

If this is the case, in my opinion, I wish I could nullify it for being such a long time/not the original debt holders/greed but
that would create a bad precedence for other nations so realistically speaking I'd force the hedge fund(s) to take the deal
last offered for the debt and not give them any interest.

As for how SCOTUS will rule, it's been a swing court this year so all bets are off. I think Roberts is a reasonable guy and will see that it's damn near
impossible for Arge to make the payments even if they were willing, but who knows, we'll wait and see.

Finally, for silliness, I'd love to see CFK fight it out with Scalia or Thomas, talk about over inflated egos coming to a point.

I agree with the other's, t's not Christina's debt. It's like the poll released this week that said 29% of Republicans blame Obama for the response to
Katrina while 28% blame Bush and the rest aren't sure. Hard to be guilty of something when you weren't even President...

 

[dennisr]

My feeling is the Kirchners' were their own worst enemy in this inherited nightmare. They flatly refused to compromise on any point, gave no wiggle room for the appeals court to modify Griesa's judgement.. The Appeals court begged Argentina to submit a formula to make the Vultures current: give us something. Pay the Vultures the same amount you are paying the settled bond holders and end of problem. Argentina refused and they are on the hook for the whole nine yards now. It is screwed up.

 

[ghost]

I think I finally made up how I feel on this one, and it's been mulling in my mind since I got here and heard more about it.
From what I understand, this is what's going on.

- Argentina defaulted on bonds
- The original purchasers didn't believe Argentina would/be able to repay it
- The original purchasers sold the debt to a predatory hedge fund(s)
- The hedge fund(s) were offered (twice) payments (albeit pennies on the dollar) for the debt
- The hedge fund(s) said no, sued wanting face value
- Courts ruled in favor of the hedge fund(s)
- Another court ruled in favor of the hedge fund(s), but upheld a stay of enforcement pending SCOTUS appeal

If this is the case, in my opinion, I wish I could nullify it for being such a long time/not the original debt holders/greed but
that would create a bad precedence for other nations so realistically speaking I'd force the hedge fund(s) to take the deal
last offered for the debt and not give them any interest.

As for how SCOTUS will rule, it's been a swing court this year so all bets are off. I think Roberts is a reasonable guy and will see that it's damn near
impossible for Arge to make the payments even if they were willing, but who knows, we'll wait and see.

Finally, for silliness, I'd love to see CFK fight it out with Scalia or Thomas, talk about over inflated egos coming to a point.

I agree with the other's, t's not Christina's debt. It's like the poll released this week that said 29% of Republicans blame Obama for the response to
Katrina while 28% blame Bush and the rest aren't sure. Hard to be guilty of something when you weren't even President...

It is not Xtinas debt it is Argentina's debt. The court recognizes that fact. And has also recognized that Argentina has acted uniquely as a rogue in this matter and has repeatedly insulted the court. Argentina will never pay Elliott et all and the court knows it. And thus Argentina will be closed out of international banking channels. So far this has resulted in the lack of capital to develop resources and build the infrastructure needed to support future development. Frankly I don't care if the state wishes to avoid so called traditional capital funding models and further wishes to pursue non traditional modes. But... the current bottom line is this model is not working either and not even close. And the citizens are paying 30% interest [inflation] on a "No Value Received" deal while watching their pension funds boil down into slush. Her last best chance is shale oil and the Chevron god. But I think we can all predict where that marriage is headed. I see the potential here and I feel pain for the populace but I do not see much hope for the future.

 

[ARbound]

Her last best chance is shale oil and the Chevron god. But I think we can all predict where that marriage is headed. I see the potential here and I feel pain for the populace but I do not see much hope for the future.

This is one of the reasons I dislike Christina and Co. When I saw that happening I was pretty pissed. Hasn't she seen what it does to rural communities back home in the States? Shale gas isn't much of a promise but I guess it's better than nothing to her. What really got me was the deal with Chevron, one of the most evil companies on Earth. When I lived in Canadá I fought with people over the development of the Tar Sands and the complete violation of the planet that is happening in Alberta, but all people can see is dollar signs.

Talk about making a deal with the Devil...

 

[ghost]

There are many Devils to deal with in a world full devilish problems. But after you have slept with Monsanto, Chevron is just a roll in park. A naughty little boy.
I want someone to find me a "Publicly Traded" company that isn't "evil".

 

[Hybrid Ambassador]

CFK will eventually liquidate its debts, it has paid off a massive debt already to the IMF, so this one is miniature in comparison..

Argentina reported that it owed private investors $11.2 billion
($6.8 billion in principal and $4.4 billion in past due interest). Holdout creditors estimate that
with additional interest, this number could be as high as $15 billion by 2013, with $1.3 billion
under litigation in federal court. Argentina also owes the Paris Club countries $6.3 billion in
principal plus past due interest and penalties. The U.S. portion is estimated at $550 million.

 

[French jurist]

http://blogs.reuters.com/felix-salmon/2013/08/23/elliott-vs-argentina-its-not-over-yet/

And the damn French giving a helping hand to Argentina :lol:
http://www.shearman.com/files/upload/NML_2013.07.26_-_France_Amicus_Brief.pdf

That's a strange decision: the Judges know that Argentina won't pay anyway and rule in a way that could create a mess in the Eurozone (although they were careful with the wording). Also to be noted: the guys behind those Vulture funds, are they good US taxpayers?! Reminds me of a story a few months ago: an oil tanker operated by a French company who had registered it in Luxemburg to save on taxes got hijacked... Since the Luxemburg Navy is likely made of two Dinghy boats, the French company turned to... France! Hence French taxpayers would pay for people who don't want to pay taxes in France...

Let's see how this will end