You still didn't explain why Argentina made such bad choice in selling their debt to international bankers. Why such "bad luck" didn't happen to other countries, well except the Greeks?
I'm not defending Paul Singer, I just can't see how 45 million profit can destroy Argentinian economy of 500 billion dollars, and make him rule the country. For the country to go bankrupt look for nothing more than internal problems.
You know people Yetos. If a person makes a mistake then first reaction is to blame someone else, or at least blames bad luck. And the poor always blame the rich, the politicians, the emigrants, and foreign workers, and the bad luck. It has to be a reason my good people like them are poor, right?
I am not telling Argentina is innocent at 2001,
I say that maybe corruption there was bigger in my country Greece,
Greece was lucky cause found some economical allies, as a state, but not as people,
the main problem here in Argentina2 is not who is responsible,
Argentina made a lot of chances and tryied to pay,
the problem in Argentina2 is not economical,
is moral,
Neither Brazil neither China even EU who also lost money in Argentina1 press so much, for such numbers of profit, all accepted haircut.
the man bought 'cutten' bonds of >180 millions (180-245 if remember correct) for 48 millions and ask >800 (832) millions, as the bonds had never been cut,
that is the non moral in the case.
my point is that since some spoke of globalization, some must also put and check a global law to avoid politicians take 'bad' loans and also prohibit such 'vultures' to act.
I never shared the idea of globalization, but since is running, international laws must be written to avoid such cases,
in Argentina2 we face a country judge to ignore all international situation and status, and deny the haircuts that have been done, although accepts haircut bonds to be returned as 'non haircut', and puts his desicion above all others,
what I mean, the bonds that Paul Singer bought were 'cut', so he bought them for 1/3 of prize, he finds a country judge, and demands to be returned as non cut, that is the situation,