Whenever the tangled world of credit-default swaps takes center stage in a financial crisis, conspiracy theories are sure to follow. Argentina is no exception.
Argentine Economy Minister Axel Kicillof described a group of so-called holdout creditors this week as “vulture funds” after failing to reach a restructuring agreement with them. Kicillof specifically directed his ire at credit swaps, a market, he said, that clouds the motives of creditors while leading to “the most wretched speculative capitalism that exists.”
keyboard shortcuts: V vote up article J next comment K previous comment