“The ‘vulture’ financier now threatening to devour Argentina can be stopped dead by a simple note to the courts from Barack Obama,” investigative journalist Greg Palast writes Thursday at The Guardian. “But the president, while officially supporting Argentina, has not done this one thing that could save Buenos Aires from default.”
Likely leaders of a Hillary Clinton administration are helping hedge fund billionaire Paul Singer wring hundreds of millions of dollars out of Argentina, a move that could derail the country’s long climb back into solvency and undermine debt settlements worldwide.
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 U.S. Supreme Court handed Argentina two major disappointments Monday “in cases brought by bondholders who refused to accept reduced payments after the country’s 2001 default,” The New York Times DealBook reports.
International gumshoe reporter Greg Palast tells RT’s Max Keiser how the fate of the Argentinian economy will be decided by a legal battle between the White House and Paul Singer—“the great vulture speculator in America” and “probably the top donor, or organizer of donors for the Republican party”—over the profits of big banks.
New York City Mayor Michael Bloomberg wants to live in a better world. That’s why he vetoed a law that would have raised the minimum wage for a measly few hundred or so working New Yorkers to at least $10 an hour.