S. Court Backs Vulture Funds | National Catholic Reporter

S. Court Backs Vulture Funds | National Catholic Reporter by MSW.  MGB: The good news is that no U.S. Court can force Argentina to pay - only to transfer assets being held in the United States.  Argentina can also try to work out a deal with the Department of State and others to find other authorities to shield those assets.  I suspect that some of this will be part of an EXIMBANK claim - or an expansion of the role of EXIMBANK to government bond transactions.  Of course, if none of that is possible the global south could take collective action against these hedge funds - along with other debtor nations, including asset seizures in their jurisdictions.  The sad thing is that some of what happened had to do with these slick operators encouraging countries to securitize government assets and revenue streams - with the whole thing collapsing in 2008.  Again, default seems like an option - as does seeking a US Fed bailout.