Friday, January 20, 2012

"Hedge Funds for Human Rights"

From Unsettling Economics:
At a time when finance is coming under intense scrutiny, it is heartening to learn about hedge funds’ concern about human rights. Greece is wrestling with the idea of asking (forcing) investors to accept 32 cents on the dollar. Hedge funds have been buying up the paper in the expectation that they can force Greece to pay in full.
Now the hedge funds is toying with the idea to sue the country in the European Court of Human Rights on the grounds that Greece had violated bondholder rights...
The ECHR!!!... they know not what they do.
If you thought Jarndyce v. Jarndyce was a bit sluggish...
"Suffer any wrong that can be done you rather than come here!"

Here is the Court's Practical Guide on Admissibility Criteria