Top Leaderboard, Site wide
September 21, 2014
Truthdig: Drilling Beneath the Headlines
Help us grow by sharing
and liking Truthdig:
Sign up for Truthdig's Email NewsletterLike Truthdig on FacebookFollow Truthdig on TwitterSubscribe to Truthdig's RSS Feed

Newsletter

sign up to get updates


Education With a Debt Sentence
Political Will Is Only Barrier to 100 Percent Renewables
Truthdigger of the Week: Naomi Klein




A Chronicle of Echoes


Truthdig Bazaar

The Testament of Mary

By Colm Toibin
$19.99

more items

 
A/V Booth

Argentina Alleges Extortion After Court Sides With ‘Vulture Funds’

Email this item Email    Print this item Print    Share this item... Share

Posted on Jun 19, 2014

Photo by 'Democracy Now!'

This week, the U.S. Supreme Court rejected an appeal from Argentina over its $1.5 billion debt in a ruling critics say validates predatory behavior by “vulture funds.” “Democracy Now!” looks at the case that is being called the “trial of the century” in how poor countries repay sovereign debt.

The program reports:

The case involves hedge funds that bought up Argentina’s debt at bargain rates after its financial crisis more than a decade ago. After Argentina defaulted on its debts, the vast majority of its creditors agreed to slash the value of their holdings. But NML Capital and other firms refused to accept the deal, instead seeking full repayment. Monday’s ruling leaves in place a lower court decision ordering Argentina to pay the companies. Argentine President Cristina Fernández de Kirchner has called the firms’ actions “extortion.”

The program talks to Eric LeCompte, executive director of Jubilee USA Network, “an alliance of more than 75 U.S. organizations, 250 faith communities and 50 Jubilee global partners” working to create “critical global financial reforms” and having won “more than $130 billion in debt relief for the world’s poorest countries.”

‘Democracy Now!’:

Advertisement

Square, Site wide

—Adapted from “Democracy Now!” by Alexander Reed Kelly.


New and Improved Comments

If you have trouble leaving a comment, review this help page. Still having problems? Let us know. If you find yourself moderated, take a moment to review our comment policy.

 
Right 1, Site wide - BlogAds Premium
 
Right 2, Site wide - Blogads
 
Join the Liberal Blog Advertising Network
 
 
 
Right Skyscraper, Site Wide
 
Join the Liberal Blog Advertising Network
 

A Progressive Journal of News and Opinion   Publisher, Zuade Kaufman   Editor, Robert Scheer
© 2014 Truthdig, LLC. All rights reserved.