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The Saker
A bird's eye view of the vineyard

offsite link Alternative Copy of thesaker.is site is available Thu May 25, 2023 14:38 | Ice-Saker-V6bKu3nz
Alternative site: https://thesaker.si/saker-a... Site was created using the downloads provided Regards Herb

offsite link The Saker blog is now frozen Tue Feb 28, 2023 23:55 | The Saker
Dear friends As I have previously announced, we are now “freezing” the blog.? We are also making archives of the blog available for free download in various formats (see below).?

offsite link What do you make of the Russia and China Partnership? Tue Feb 28, 2023 16:26 | The Saker
by Mr. Allen for the Saker blog Over the last few years, we hear leaders from both Russia and China pronouncing that they have formed a relationship where there are

offsite link Moveable Feast Cafe 2023/02/27 ? Open Thread Mon Feb 27, 2023 19:00 | cafe-uploader
2023/02/27 19:00:02Welcome to the ‘Moveable Feast Cafe’. The ‘Moveable Feast’ is an open thread where readers can post wide ranging observations, articles, rants, off topic and have animate discussions of

offsite link The stage is set for Hybrid World War III Mon Feb 27, 2023 15:50 | The Saker
Pepe Escobar for the Saker blog A powerful feeling rhythms your skin and drums up your soul as you?re immersed in a long walk under persistent snow flurries, pinpointed by

The Saker >>

Public Inquiry
Interested in maladministration. Estd. 2005

offsite link RTEs Sarah McInerney ? Fianna Fail?supporter? Anthony

offsite link Joe Duffy is dishonest and untrustworthy Anthony

offsite link Robert Watt complaint: Time for decision by SIPO Anthony

offsite link RTE in breach of its own editorial principles Anthony

offsite link Waiting for SIPO Anthony

Public Inquiry >>

Human Rights in Ireland
Promoting Human Rights in Ireland

Human Rights in Ireland >>

Lockdown Skeptics

The Daily Sceptic

offsite link J.K. Rowling Leads Backlash Against Sturgeon for Claiming There Was No Public Opposition to Gender S... Tue Dec 24, 2024 11:23 | Will Jones
J.K. Rowling has led a feminist backlash against?Nicola Sturgeon?after she was accused of ?rewriting history? over the gender self-ID law controversy by claiming there was no public opposition until "forces muscled in".
The post J.K. Rowling Leads Backlash Against Sturgeon for Claiming There Was No Public Opposition to Gender Self-ID Until “Forces Muscled In” appeared first on The Daily Sceptic.

offsite link Science Shock: CO2 is Good for the Planet, Peer-Reviewed Studies Suggest Tue Dec 24, 2024 09:00 | Chris Morrison
Dramatic evidence has been published in a number of recent science papers that CO2 levels are already?'saturated', meaning little or no further warming is to be expected and rising CO2 levels are all beneficial.
The post Science Shock: CO2 is Good for the Planet, Peer-Reviewed Studies Suggest appeared first on The Daily Sceptic.

offsite link Whoever Rules Britain Is Going to Be Unpopular Tue Dec 24, 2024 07:00 | Noah Carl
It isn't so much that the Tories are getting more popular as that Labour is getting less so. Which illustrates a more general predicament for the Tories and any other party that might have aspirations to government.
The post Whoever Rules Britain Is Going to Be Unpopular appeared first on The Daily Sceptic.

offsite link News Round-Up Tue Dec 24, 2024 00:40 | Richard Eldred
A summary of the most interesting stories in the past 24 hours that challenge the prevailing orthodoxy about the ?climate emergency?, public health ?crises? and the supposed moral defects of Western civilisation.
The post News Round-Up appeared first on The Daily Sceptic.

offsite link Can Science Tell Us the Meaning of Life? Mon Dec 23, 2024 19:54 | Dr David Bell
At Christmas time, Dr David Bell reflects on what has true value in this world, the limits of science to tell us what that is and what a baby in a manger might have to say about it.
The post Can Science Tell Us the Meaning of Life? appeared first on The Daily Sceptic.

Lockdown Skeptics >>

Predatory Hedge Funds and Argentina Face Supreme Court Showdown in Landmark Global Poverty Case

category international | miscellaneous | news report author Tuesday December 17, 2013 18:09author by Jennifer Tong - Jubilee USA Report this post to the editors

Argentina is expected to appeal to the US Supreme Court by mid-February in response to a US 2nd Circuit Court ruling ordering the country to pay $1.33 billion to predatory hedge funds. The precedent the case sets will hurt poor countries in financial distress and could allow a small group of hedge funds to target assets that benefit vulnerable populations.

Argentina is expected to appeal to the US Supreme Court by mid-February in response to a US 2nd Circuit Court ruling ordering the country to pay $1.33 billion to predatory hedge funds. The precedent the case sets will hurt poor countries in financial distress and could allow a small group of hedge funds to target assets that benefit vulnerable populations. At the same time, debt holders who restructured their debt with Argentina have hired lawyers to help negotiate the dispute between holdout hedge funds and Argentina. Nearly 93% of debt holders restructured their debt with Argentina after the 2001 default. The majority of bondholders are concerned that their settlements could be disrupted if hedge funds win the final ruling.

“We agree with the concerns of the restructured bondholders,” said Eric LeCompte, Executive Director of Jubilee USA Network, a faith-based antipoverty organization. “We join the IMF, World Bank and White House in denouncing this extreme hedge fund behavior that takes advantage of the world’s poorest people.”

Once Argentina appeals to the Supreme Court, interested parties have 30 days to file anamicus or friend-of-the-court brief urging the Supreme Court to accept the case. The Supreme Court would likely decide by the summer whether or not it will actually hear the case. In a separate case currently before the Supreme Court, Argentina sought review of a lower court decision allowing NML Capital to seek information about Argentina’s non-US assets. The United States filed an amicus brief in support of Argentina, arguing that Argentina’s assets are immune from seizure under federal sovereign immunity law.

These cases go back to 2001, when Argentina defaulted on roughly $81 billion in debt. Multiple hedge funds purchased debt for pennies on the dollar. These hedge funds are called “vulture” funds because they prey on countries in financial distress and target assets that benefit poor populations. The nearly 93 percent of bondholders who restructured their debts with Argentina have seen the value of their bonds increase. The holdout hedge funds that are suing Argentina refused the deal several times and have instead sued for the full amount of the debt they purchased.

The opposition to vulture funds is widespread. Similar hedge fund claims against Argentina have been rejected by courts in Germany, and France filed an amicus brief in support of Argentina in a previous appeal to the Supreme Court. In lower court proceedings, the US government filed an amicus brief in support of Argentina, arguing that a ruling against Argentina could make it much more difficult for countries in financial recovery or facing economic stress to access credit and debt swaps. The IMF has also weighed in on the case, saying that the result would have major implications for how future sovereign debt is restructured.

“It’s rare that we see such a global consensus rejecting this predatory hedge fund behavior. These hedge funds hurt legitimate investors and poor people,” noted LeCompte.

Jubilee USA Network is an alliance of more than 75 US organizations, 300 faith communities and 50 Jubilee global partners. Jubilee's mission is to build an economy that serves, protects and promotes participation of the most vulnerable. Jubilee USA has won critical global financial reforms and more than $130 billion in debt relief to benefit the world’s poorest people. www.jubileeusa.org

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