Wall Street vs. Argentina
Hedge Funds Stride the Stage of World Affairs
By PETER EAVIS, NYT
Argentina's president, Cristina Fernández de Kirchner, was re-elected with a huge margin last year, leaving her political opponents fractured and demoralized. But in recent months, she has found herself locked in battle with a determined adversary who may outmaneuver her.
Her opponent is not a participant in Argentina's domestic political scene. Rather, he is Paul Singer, a soft-spoken New York hedge fund manager. Through one of his funds, Mr. Singer is fighting in United States courts to press Argentina to pay up on some defaulted bonds. Mrs. Kirchner has refused.
Mr. Singer may be deploying arcane legal strategies thousands of miles from Argentina, but his tactics are dominating the nation's political discourse. "This has been on the front page every day in Argentina," said Maria Victoria Murillo, a professor of political science and international affairs at Columbia University.
In other words, a hedge fund has become an important political player in a democracy of 41 million people.
(More here.)
By PETER EAVIS, NYT
Argentina's president, Cristina Fernández de Kirchner, was re-elected with a huge margin last year, leaving her political opponents fractured and demoralized. But in recent months, she has found herself locked in battle with a determined adversary who may outmaneuver her.
Her opponent is not a participant in Argentina's domestic political scene. Rather, he is Paul Singer, a soft-spoken New York hedge fund manager. Through one of his funds, Mr. Singer is fighting in United States courts to press Argentina to pay up on some defaulted bonds. Mrs. Kirchner has refused.
Mr. Singer may be deploying arcane legal strategies thousands of miles from Argentina, but his tactics are dominating the nation's political discourse. "This has been on the front page every day in Argentina," said Maria Victoria Murillo, a professor of political science and international affairs at Columbia University.
In other words, a hedge fund has become an important political player in a democracy of 41 million people.
(More here.)
Powered by Blogger
0 Comments:
Post a Comment
<< Home