Griesa Orders Argentina To Negotiate As Default Could Be Nasty

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Mark Melin
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US District Judge Thomas Griesa is in a tough position.  The federal judge rejected Argentina’s latest bid for a stay of his ruling and ordered Argentina to work out an agreement with hedge-fund holdouts as a July 30 default date looms. Argentina default will hurt real people: Judge Griesa If a compromise can’t be found “there will be a default on July 30, and that is about the worst thing that I, sitting here, can envisage,” Griesa said. “I don’t want that to happen. Real people will be hurt by that. Real hurt. Not ‘vultures,’ but real people.” The “real…

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Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.