Would he go so far as to describe his fellow hedge fund manager’s business tactics as hostage situation-esque? Yes, yes he would. Read more »

  • 27 Aug 2014 at 1:02 PM
  • Banks

BNY Mellon Loses Lucrative Argentine Market

Just kidding: There was nothing lucrative at all about the Argentine market for BNY, only trouble. But Cristina Kircher & co. have been kind enough to deal with that problem for their estranged trustee bank. Read more »

So it seems—surprise, surprise!—that Argentina hasn’t really been all that serious about trying to strike a deal with Paul Singer, and that the world’s banks aren’t especially interested in absorbing much risk to curry favor with President Cristina Kirchner. So Singer’s going back to a strategy that, while unsuccessful in actually getting him any of his money, has been very, very successful at infuriating people in Buenos Aires. Call it the “ship-seizing” strategy. Or, in this case, the “money-embezzled-by-Cristina-Kirchner’s-old-buddy-seizing” strategy. Read more »

It is apparently inconceivable to the Argentine political mind that there are things that a presidente cannot do, and so another senior member of Cristina Kirchner’s government has asked Barack Obama to dig around in his secret bag of executive tricks and rid them of that meddlesome magistrate, U.S. District Judge Thomas Griesa. Read more »

  • 11 Aug 2014 at 5:19 PM

America Declines Argentine Invitation To The Hague

Thanks to its insistence on calling Ronald Reagan’s little Nicaraguan adventure a violation of international law, the International Court of Justice now has to ask the United States’ permission before accepting any lawsuits against it. Like, you know, from certain uniquely recalcitrant debtors who’d like to see a certain judge go away, or at least have his rulings declared a violation of international law.

Well, Barack Obama would just as soon have Argentina figure this thing out without the Hague getting involved. Maybe by talking to the hedge funds it owes money to, but more likely by having Mike Corbat and Jamie Dimon bail it out. Either way, the folks at the ICJ shouldn’t be holding their breath waiting for a green light from Washington. Read more »

  • 08 Aug 2014 at 2:30 PM

Judge Tells Argentina To Say It To His Face

Argentina has been pretty chatty since it defaulted rather than pay Paul Singer last week. Of course, the uniquely recalcitrant debtor insists that it has not defaulted. But it has also lobbed a few bombs in the direction of the judge overseeing its case, the mediator he appointed and the President of the United States, calling the first biased, the second incompetent and the third a pussy for not just making U.S. District Judge Thomas Griesa be nice to it.

Well, Griesa would like to have a little chat about those things, as well as Argentina’s continued badgering of the Bank of New York Mellon to just go ahead and ignore the old man, and probably its publicity-stunt of a lawsuit against the U.S. of A. in the International Court of Justice. Read more »

Maybe he smiles inside. There are signs now and then that he might enjoy a kind of humor. At this year’s World Cup, according to a colleague, as the Argentine national team made its glorious push and its country teetered toward default, Singer was there, in the stadium. He was wearing an Argentina jersey. [BusinessWeek]