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Thursday, January 19, 2012

Hedge funds are people, my friend

(Via Atrios)

People with human rights, presumably.
The novel approach would have the funds arguing in the European Court of Human Rights that Greece had violated bondholder rights, though that could be a multiyear project with no guarantee of a payoff.
Evidently this all comes from these damn Europeans having gotten the wording wrong.

Legal experts suggest that the investors may have a case because if Greece changes the terms of its bonds so that investors receive less than they are owed, that could be viewed as a property rights violation — and in Europe, property rights are human rights.
It's "pursuit of happiness," people! Damn don't you guys know how to write a legally vague enough constitution over there?

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