Tag Archives: Sovereign Debt

“Vulture Funds” Seek Dangerous Precedent In Argentine Debt Case

“Vulture Funds” Seek Dangerous Precedent In Argentine Debt Case
Argentina this week requested that the U.S. Supreme Court review a lower court ruling that would compel the country to pay more than $1.3 billion to U.S. “holdout” bondholders that the Argentine president has called “vultures.” The case is being widely watched due to its immediate, as well as long-term implications. On one hand, economists worry that the lower court’s ruling could force Argentina back into default, potentially leading the ... Read more

The Schizophrenic State

The Schizophrenic State
The real Eliot Ness wasn’t nearly as cool as De Palma made him out to be in The Untouchables. But no matter, Neil Barofsky was still pretty chuffed when Treasury officials likened him to the Prohibition agent. Barofsky felt like Ness during his twenty-seven months in the DC swamp, where “bullshit, ego, politics, turf, and credit” ruled the day, and only he and his SIGTARP (Special Inspector General of the Troubled Asset Relief Program) team ... Read more