Federal appeals judge: Argentina's bullying a bank
Judges on a federal appeals court panel Thursday said they suspect Argentina has gone rogue, ignoring court orders and bullying a U.S. bank to try to prevent it from obeying a court order.
Judge Reena Raggi of the 2nd U.S. Circuit Court of Appeals made the South American nation sound like it was adopting the ways of the Wild West, saying it was "basically holding the gun" to the head of Citibank's branch in Argentina by suggesting it could face criminal prosecution if it failed to process Argentina's payments to some bondholders at the end of this month.
"We have a party who will not conform itself to the law," Circuit Judge Barrington Parker said.
The bank has been told by a New York judge not to process the payments to comply with a court order. That order requires U.S. hedge funds holding fully valued Argentina bonds to be paid $1.5 billion if Argentina pays bondholders who traded their bonds in 2005 and 2010 for bonds of lesser value.
http://news.yahoo.com/federal-appeals-judge-argentinas-bullying-195937545.html
