Euro Vultures Circle over Detroit
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  • Pete

    Vultures?

    Why is someone who wants to get back what they lent out considered a vulture?

  • Corlyss

    Good for the “vultures.” Finance is golden when you need it; a villain when it tries to hold people and institutions to the contracts they signed. Finance is not a charity. It’s a business. Business seems to be a dirty word in post cold war America – everyone is supposed to do everything for charitable reasons and not complain about the gross inequities of such a public delusion.

    • Andrew Allison

      post-Constitutional America?

      • Corlyss

        Brilliant! Again, may I quote you?

        • Andrew Allison

          Feel free!

  • Andrew Allison

    Given that the banks in question are following the lead of US companies who are holding out for Argentine debt repayment, the headline seems a tad xenophobic.

  • bigfire

    All I can say is this: Good for them for sticking their neck out in hope of getting paid. If the court rules against the bond holder and for the bankruptcy, they’ll take a minor bath here (the vulture funds pay fractional of the bond face value with the understanding that it’s a very risky investment). If it doesn’t they get paid. At least the previous bond holder got someone to take these dubious financial instrument out of their hands.

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