Why Argentinas Crash Is Also A Problem For US Paul The Vulture Singer...hes the guy who attacks the weak and the dying...He waits in ambush. In the case of Argentina, Argentina taking some very bad advice from the IMF decided it could only survive by defaulting, this was about 15 years ago. It restructured its debts. This cost the United States taxpayer at the time a pretty penny... 50% of the IMFs debts belong to the United States. We helped restore Argentina, which became actually a very strong economy until this latest attack by Singer, who said, wait a minute, 15 years ago, those bonds you defaulted on, I kept 3% of them, and now I want you to pay me...He paid about $30 million and he wants about $3 billion – thats 100 times what he paid...If that happens, Argentina goes down, but so do the big banks out of New York, Citibank, J. P. Morgan, and even in Europe, the United Bank of Switzerland, which put together the original deal...If Argentina goes into default, those banks end up in huge financial trouble...The billionaire Republican hotshot, Paul Singer, The Vulture, has not only sued Argentina, hes sued J P Morgan, Citibank, and the United Bank of Switzerland, and said whatever money Argentina gave you over the years, baby thats mine. And by the way...he got a court order which prevents Argentina from paying off its debits unless he gets his pound – or in his case, his ton of flesh. ~ Greg Palast on The Big Picture with Thom Hartmann. For more on Paul The Vulture Singer, the situation in Argentina, and how Obama can solve it with a stroke of a pen, read Gregs latest column: gregpalast/how-barack-obama-could-end-the-argentina-debt-crisis/
Posted on: Thu, 07 Aug 2014 18:28:51 +0000