Paul Singer had an idea a while back: Let’s come up with a plan to destroy Argentina even more than we already have, have an elder stateswoman and a Spanish-speaking former U.S. Cabinet member transmit the threat, and watch Cristina Kirchner crawl to the negotiating table, $1.6 billion in tow. Well, things didn’t work out quite as planned: Instead of begging, President Kirchner got even more ornery than she already was. Long story short, Paul Singer has no need of Madeleine Albright anymore.
Albright’s firm said Singer had a five-point plan to destabilize the Argentine government if it didn’t sit down and negotiate with the holdout creditors led by Singer, who won a court battle to get $1.6 billion, Kirchner claimed….
Argentina’s rebuff led Singer and Albright to end their association—at least for now.
Singer’s Elliott Management retained the 77-year old diplomat on a “short-term assignment” that was terminated because “the Argentines don’t appear don’t appear to be interested” in what she is saying, a source close to the billionaire investor’s firm said.