The hedge fund firm of billionaire Paul E. Singer has about 300 employees, yet it has managed to force Argentina, a nation of 41 million people, into a position where it now has to contemplate a humbling surrender. Argentina on Wednesday failed to make scheduled payments on its government bonds. The country has the money to pay the bonds. But a federal court in Manhattan has ruled that unless Argentina settles its debt dispute with Mr. Singer’s firm, Elliott Management, it is barred from paying its main bondholders...... Argentina Finds Relentless Foe in Paul Singer's Hedge Fund, NY Times, July 31
It's not easy to get 2 animals into one headline - sorry for insulting hogs and vultures. When I read this story Thursday morning, I automatically assumed Paul Singer was a big charter school backer.
And sure enough:
“He doesn’t get into fights for the sake of fighting. He believes deeply in the rule of law and that free markets and free societies depend on enforcing it,” said a fellow hedge fund manager, Daniel S. Loeb.Aha - Charter pusher Daniel Loeb - come on - I think there is only one hedge fund guy who puts on different suits so we think they are all different guys.
If you follow the Argentina story carefully, you can see the corrupt US courts are in cahoots with these guys. Argentina defaulted in 2001 and it took years for the creditors to come to an agreement to take a cut in bond payments, which Argentina has been paying. So along comes the hedge hog spider to screw even these guys - after buying some of the debt on the cheap and now wanting full payment which will cripple an entire nation.