Argentina’s Exchange Offer May Not Be Clever Enough Yet


By Matt Levine – And the other day Argentina’s government introduced a bill in parliament to do a debt exchange to get around Judge Griesa’s orders, which he specifically told it not to do.

So yesterday (Aug 21) the holdout bondholders went to court to try to get Judge Griesa to hold Argentina in contempt, and Judge Griesa basically said (pdf), well, this is pretty contemptuous, but he still didn’t hold Argentina in contempt.

Because what good will that do? They’ve ignored him so far. more> http://tinyurl.com/ld2uzqs

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