Seems like a silly reason to sell off the Dow and NASDAQ (-211 and -73 respectively) since Argentina does this every decade or so.
Also, Argentina is damned if it does, and damned if it doesn’t. Apparently, giving Singer’s merry band of hedgies more favorable terms than the other 85% of creditors will entitle the other bondholders that previously accepted a haircut to seek the same terms. Which would likely result in bankruptcy or default within a short time anyway.
I don’t think there are any “good guys” in this insanity.
If I took a loan from a loan-shark out of necessity and he’s now pestering me for repayment, it can be better to say “hell, NO!” and break HIS legs than have my family starve.
