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The Lessons of Our Bond War
Keywords:
The holdout bondholders led by Mr. Singer of Elliott Capital hedge fund and Argentina- the two sides in the Argentine default
07/30/2014
Mr. Singer's hedge fund paid about $170 million for Argentine bonds acquired at a price well below the original value of the bonds following the debt crisis of 2001. He is suing the Argentine government for $1.5 billion including interest. His hedge fund firm manages $25 billion in assets and has returned 14% over the years. The long period this issue has festered should convince borrowers of the need to borrow carefully only where the capital can be put to productive use and generate adequate returns to pay off borrowings. Sovereign borrowers also need to build up the sovereign wealth funds to prepare for unforeseen contingencies and exercize vigilance in spending. Greece had a similar problem and paid a financial firm over $500 million to get out of a difficult situation in 2012, even as pensions were being cut.
Grouped Articles
Argentina Finds Relentless Foe in Paul Singer's Hedge Fund
New York Times 07/30/2014
Argentina Is in Default, and Also Maybe in Denial
New York Times 07/31/2014
Argentine Leader Defies Wall Street for Main Street
Wall Street Journal 08/01/2014
After 14 Years at Odds, Argentina Aims to Settle Debt With Hedge Funds
New York Times 02/02/2016
Argentina Reaches Debt Deal With 2 Hedge Funds
New York Times 02/05/2016
Argentina, Hedge Funds Move Closer to Reaching Deal in Debt Dispute
Wall Street Journal 02/25/2016
Negotiations and settlement between Argentina and hedge funds in 2016
02/05/2016
Grouped Articles
Argentina Reaches Debt Deal With 2 Hedge Funds
New York Times 02/05/2016
Argentina, Hedge Funds Move Closer to Reaching Deal in Debt Dispute
Wall Street Journal 02/25/2016
Argentina Debt Deal Poised to Deliver Big Payday to Holdouts
Wall Street Journal 03/01/2016
After 15 Years, a Bond Trade Now Pays Off
Wall Street Journal 03/03/2016
How Hedge Funds Held Argentina for Ransom
New York Times 04/01/2016
Settling Argentina’s Debt: A Hedge Fund’s View
New York Times 04/08/2016
How Argentina's Feb. 2016 settlement for $9.3 billion with U.S. hedge funds was negotiated
04/25/2016
Grouped Articles
How Argentina Settled a Billion-Dollar Debt Dispute With Hedge Funds
New York Times 04/25/2016
Wall Street Journal 04/25/2016
IMF, Argentina Agree on $50 Billion Bailout Deal
WSJ 06/08/2018
The 2014 U.S. Supreme Court decision on Argentina's holdout hedge fund bondholders
06/17/2014
Grouped Articles
Wall Street Journal 06/17/2014
Argentina Waiting for Ruling on Request for More Negotiation Time
Wall Street Journal 06/26/2014
The Muddled Case of Argentine Bonds
New York Times 07/24/2014
As Talks Falter, Argentine Bond Default Likely
New York Times 07/29/2014
Argentina Is in Default, and Also Maybe in Denial
New York Times 07/31/2014
Argentina Reaches Debt Deal With 2 Hedge Funds
New York Times 02/05/2016
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