Mar
06
Here’s Another Way Of Saying Paul Singer Just Told Argentina To Get On Its Knees
By
Who’s your daddy?
Our friends over at The Wall Street Journal must be as sorry as we are to see the Paul Singer-Argentina fracas fade into history. For one, they keep looking for (and finding!) new ways to describe just how much of a killing Elliott and its fellow vultures made in their recent deal. This time, it’s about a handy clause in the bonds that reset their coupons to the level other Argentina bonds were fetching on the secondary market. A funny thing happens to a country’s bonds on the secondary market when it stops paying them: They go up. A lot. In this case, to 101%…
Here’s Another Way Of Saying Paul Singer Just Told Argentina To Get On Its Knees
