EU faces crisis as IMF warns Greek debts are on explosive path

[tenorly]

11. I was referring to bonds held by private parties (the ones vulture funds bought from resellers).

They were issued by Argentina; but then sold by their original investors when the country had its own Greek tragedy in 2001 (worse than Greece, even).

The bonds changed hands many times until, in 2008, they were bought from a Caribbean laundry by vulture fundie and GOP bigwig PaulSinger (through his Caymans laundry, NML).

He could have sold them in 2010 and made a bundle given that Argentina had recovered strongly and their value had doubled; but his intention was to sue for an astronomical payout using a yield formula of his own design.

He ultimately got his way - but not really thanks to his pet judge (who then retired to a million-dollar Montana ranch). It was thanks to a narrow election victory by neocon candidate (and Trump friend) Mauricio Macri, who last March coughed up $9 billion to Singer ($2.3 bn) and other vulture funds and minor holdouts.

I figure the GOP and its SuperPACs will probably reap about a 10% of that.