The United Nations General Assembly could deal a significant blow to those hedge funds who use what Argentina and its supporters called “vulture” tactics. UN creating a global bankruptcy mechanism? In a vote at 3pm (EST) the UN could pass a resolution creating a global bankruptcy mechanism. Such a process could empower poor countries against predatory funds and limit future defaults. “There’s global consensus to stop predatory behavior,” noted Eric LeCompte, Jubilee USA’s Executive Director who signed a letter to UN Ambassador Samantha Power urging support for the measure. “This resolution is an opportunity to turn consensus into action. A process could begin…
UN Vote On Argentina Debt Fight This Afternoon
Mark Melin
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.