Will Singer's Prophecy Come True if Argentina Defaults?

Standard & Poors announced that Argentina is now in default on its bonds. However, this may not mean that offers by a group of private Argentine banks to purchase the bonds are off the table. Also see: As Argentina’s Banker Delivers Proposal, Will Holdouts Bend?   Argentina’s negotiations with Paul Singer’s Elliott Management Bloomberg is reporting that negotiations “with U.S. hedge funds led by Paul Singer’s Elliott Management Corp. continued past the country’s grace period.” Minutes later The Wall Street Journal reported the meetings had ended. “An Argentina default is expected to be short-lived at this point and shouldn’t have any major implication…