Hedge Fund CEO Seizes Argentinian Navy Ship In Ghana

[angelatc]

Bloomberg TV is on in the background, and I'm just floored that they think this is funny. Apparently Argentina defaulted on $1.5 billion of bonds that the firm issued, and so the banker literally seized a ship that was harbored in Ghana.

The court in Ghana has ordered that he can hold the ship while they sort this out.

Meanwhile, I think I would be getting my other Navy ships en route to that port if I were Argentina.

http://www.nypost.com/p/news/business/hedge_fund_honcho_singer_can_hold_V2GPCAekWe5PQWBI yHo6rN


(http://www.nypost.com/p/news/business/hedge_fund_honcho_singer_can_hold_V2GPCAekWe5PQWBI yHo6rN)
Singer has asked Argentina for $20 million to return the three-masted vessel, but if the case goes to trial, the asking price could go up, a source with knowledge of the case told The Post.

If I have to guess, though, Argentina will pay.

[Petar]

I dunno, seems appropriate to me.

Every country in the world seems to be practicing marxism, and when it fails they just wanna practice more marxism to somehow fix it.

There need to be some damn consequences, and at least this guy is delivering...

[angelatc]

I dunno, seems appropriate to me.

Every country in the world seems to be practicing marxism, and when it fails they just wanna practice more marxism to somehow fix it.

There need to be some damn consequences, and at least this guy is delivering...

Sorry, but I disagree. Loan money to a Marxist, then get all butt-hurt when they run out of other people's money? If he wants to get a court order to seize assets, then by all means he should do so. But until that happened, this was piracy.

In the meantime, maybe the people who lost money in that fund should all go seize the cars of the brokers that sold them the deal. In no time, we'll be living the anarchists dream, with the spoils going to the guys with the biggest guns.

[Philhelm]

Coming soon, to a former Constitutional Bicameral Republic near you...

[Petar]

Sorry, but I disagree. If he wants to get a court order to seize assets, then by all means he should do so. But until that happened, this was piracy.

In the meantime, maybe the people who lost money in that fund should all go seize the cars of the brokers that sold them the deal. In no time, we'll be living the anarchists dream, with the spoils going to the guys with the biggest guns.

But is a broker responsible for a fund the same way that a debtor is responsible for collateral?

Come to think of it, I do owe a cell phone company a couple of hundred dollars, so you must be right.

Nevermind :D

[angelatc]

But is a broker responsible for a fund the same way that a debtor is responsible for collateral?

Come to think of it, I do owe a cell phone company a couple of hundred dollars, so you must be right.

Nevermind :D

There ya go. But there's probably an old roommate or drinking buddy that owes you some cash, so now you can go take their TV.