The bill due July 1 is much, much, much bigger.
After 15 years of court battles, injunctions, smear campaigns, lobbying, and other interventions, the vulture funds have finally won a tentative agreement with the new Argentine government.
"When you make a risky investment you should not expect to get 100 percent back on your dollar."
The U.S. government did not file an amicus brief with the Supreme Court, despite its filing in the appellate case. And -- here is the big mystery -- neither did the IMF, even though it has publicly expressed concerns about the impact of that ruling.
WASHINGTON -- Private equity firms are routinely ripping off their clients, harming pension funds, universities and charitable
While Singer and Hermann pursue Argentina in court, Washington lobbyists like Raben are making sure the issue remains in
Vulture funds abuse the system, acquiring distressed debt in secondary markets to multiply profits at the expense of the poor and weak. While the practices originated in South America, the method has increasingly been used to target African countries.
Hey, everybody! Time now to check what's going on with that giant portfolio of foreclosed-upon homes that we, as taxpayers, own. Did you forget that we owned a giant portfolio of foreclosed-upon homes?
For small sums, vulture funds buy debts racked up years ago by the poorest countries on earth. Then they take the poor country to court, and demand exorbitant and crippling returns from the debtor nations.
Bush noted that the effect of just Monday's drop in the market capitalization of the stock market was in excess of $1 trillion -- that's right, more than the $700 billion "bailout."