UN Vote On Argentina Debt Fight This Afternoon

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…