Thursday, July 31, 2014 11:42:30 PM
convertible debt lenders preying on small
companies and shareholders...
After the 2008 financial collapse the debt
sharks started coming out with terms at 30%
to 50% discount conversion rates versus the
previous 80% rate conversions of the past...
So when liquidity dried up the usurus dance
of high interst debt converters took over...
Maybe drifting off the path here but the US
courts are backing up the bigger hedge funds
that set the tone for lending practices...
About 45 BILLION dollars was tied up by an
injuction on behalf of hedge fund lenders...
So the bond holders that agreed to give
Argentina favorable terms that would help
their country service their debt have about
45 billion dollars sitting in New York banks
that the courts won't allow to be paid...
But those hedge funds also have the spin
power to pitch that injuction as a default
by Argentina after the money was wired to
an account for bondholder disbursement...
Public shareholders are footing the costly bill
of death spiral lending being allowed in the
public markets...
Complaining about that should be what most
shareholders should be doing instead of trying
to interrupt companies doing biz daily...
All Imo, of course...LJ
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