Preliminary deal reached between Argentina and bondholders

[sandensea]

2. You bet.

And thank you, Judi, for your steadfast academic interest and good thoughts.

Here's hoping they do, in fact, seal the deal - such that Argentina can emerge from default, bondholders can be paid, confidence can improve, and the country can access international credit again.

Though it would certainly not be the $120 billion in borrowing that Macri racked up over just two years (early 2016-early 2018).

That mostly went to finance dollarization of assets and their offshoring - which is what bankrupted Argentina in the first place back in '81 during the dictatorship.

The best guarantee that it won't happen again, is to make sure no right-wing "gorilla" (as they're referred to in Argentina) is ever returned to office.

That's what leading investors like Larry Fink - one of the giants of the investment world - should watch out for going forward (he bought in heavily when Macri was in office, no doubt under the impression Macri meant "good governance" ).

Fink deserves a lot of credit for reaching an equitable deal for all involved.