How a Billionaire is Trying to Profit by Forcing Argentina into Default


One billionaire bought old Argentina debt for pennies on the dollar a decade ago. Now that Argentina is trying to recover from its default and be a good global citizen in world financial markets, this billionaire is trying to reap huge rewards by forcing Argentina to pay debts to him that the rest of the world has restructured or forgiven long ago. The billionaire has used U.S. courts and an African nation to apply financial sanctions and seize Argentine assets. Meanwhile, the people and government of Argentina just want to get on with their lives and continue to pay their new obligations. The rest of the world agrees but the billionaire smells huge profits and is using the U.S. courts to get them even though many doubt the court even has jurisdiction over this matter. Listen to this story about pathological opportunism and a nation’s suffering.

Also, the opening segment talks about how ALEC is trying to crush sick pay for the nation’s low-paid employees, how the employees are on strike and loyal customers are boycotting a wonderful company in New England because they want their CEO to be reinstated after being fired by the board of directors, and good news for the service sector of the U.S. economy.

Guest: David Dayen
Learn more at: David Dayen

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The Tim Danahey Show started in July, 2010 at internet station Castle Rock Radio. It started as a one-day-per week endeavor and quickly grew to five days per week. The show discusses economics, government, social issues, history, and non-fiction books in a magazine format featuring in-depth conversations with guests. Politics and inflammatory conversations are discouraged as they are divisive and counter-productive. Instead, the show seeks under-reported topics and delves into facts, different perspectives, and ramifications of each perspective.