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Fate of "strategic defaulters"

Started by NYCNovice
about 13 years ago
Posts: 1006
Member since: Jan 2012
Discussion about
Great story from the current Economist print edition: "Argentina’s debt default; Caught Napping; Hold-out creditors seize an Argentina ship in Ghana." Story is that a fund that bought some of Argentina's bad debt just seized a prized Argentinian asset when it docked in Ghana. It is an awesome story. With respect to strategic defaulters in the U.S., I had a client who made its first fortune by buying bad debt from the S&L crisis. In any event, the story is a good read and shows how strategic defaulters have can never relax. BTW - Even USG sells bad debt to debt collectors.
Response by NWT
about 13 years ago
Posts: 6643
Member since: Sep 2008

Yeah, great story. Bought the debt for a few cents on the dollar and won't give up.

That whole issue was good. Should've cited the Sweden article when it came up here.

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Response by NYCNovice
about 13 years ago
Posts: 1006
Member since: Jan 2012

Yep. My longtime favorite "newspaper," and I wish the tea party caucus would read (and could understand) the focus of this (the Oct.13th print) edition.

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