Mike Malloy - How World Domination Works: The Argentinian Case

The U.S. Supreme Court declined on Monday to hear Argentina's appeal over its battle with hedge funds that refused to take part in its debt restructurings, an unexpected move that risks toppling Latin America's No 3 economy into a new default.

The high court left intact lower court rulings that ordered Argentina to pay $1.33 billion to the so-called holdouts who refused 2005 and 2010 debt swaps in the wake of its catastrophic 2001-02 default on $100 billion.

This could open the door to claims from other holdouts worth as much as $15 billion, a hefty sum for a slowing economy struggling with rapidly dwindling foreign reserves.

Buy debt at 20 cents a dollar, demand 100% repayment.

Gotta love a banker.

Full story: http://www.reuters.com/article/2014/06/16/us-usa-court-argentina-idUSKBN0ER1MT20140616

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Regards.

HERNAN
BUENOS AIRES
ARGENTINA