'But this time around the default was different, prompted much less by irresponsible economic policy in Buenos Aires than by irresponsible legal policy in Manhattan. An American hedge fund got greedy, advanced a legal theory that was rejected by the US government and most major banks, won its lawsuit anyway, and in the end didn't get paid but did force Argentina into default.'
http://www.vox.com/2014/7/31/5954705...lt-paul-singer
interesting