Puerto Rico Debt Advisors Subject to Conflict Disclosure (tags)
After an investigation into potential conflicts of interest in Puerto Rico's debt restructuring, the island's oversight board notes it will increase disclosure requirements for advisors. The investigation began in response to a debt consultant whose affiliate company holds Puerto Rico debt.
Puerto Rico Debt Bill Heads for Full House Vote (tags)
The House Committee on Natural Resources voted 29-10 to approve Puerto Rico debt legislation for consideration by the full House of Representatives.
Puerto Rico Congressional Negotiations Intensify (tags)
The House Committee on Natural Resources is poised to release the newest draft of Puerto Rico legislation amid tense negotiations.
Congress Releases Draft Puerto Rico Bill to Address Financial Crisis (tags)
The House Committee on Natural Resources released draft legislation to address Puerto Rico's debt crisis.
Argentina Negotiates Debt Dispute with "Holdout" Hedge Funds (tags)
Argentina begins negotiations with groups that sued the country for more than $1 billion after it's 2001 default.
Kiev Reneges On Its Debt Obligations (tags)
Ukraine
United Nations Votes for Process to Create Global Bankruptcy Framework (tags)
UN Process Could Limit Default and Stop Predatory Funds
Banks and Investors Challenge Predatory Funds Solutions Fall Short of Comprehensive Prot (tags)
The International Capital Market Association (ICMA), a group of banks and investors, released a new debt framework this morning aimed at reducing the ability of predatory funds and holdout investors to undermine debt restructuring. The plan was created after meetings convened by the US Treasury Department in the wake of Greece's debt restructuring and comes in the aftermath of the landmark debt case between Argentina and NML Capital.
IMF Reviews International Financial Crises Solutions (tags)
As the IMF reviews solutions to international financial crises, religious and development groups urge reforms to protect the poor.
Making Sense of a U.S. Owned General Motors (tags)
Now that the United States owns General Motors, many are asking, “What’s in it for taxpayers?” This is an extremely good question, considering that taxpayers may spend up to $100 billion [!] towards a company that’s currently worth around $450 million. (Wall Street Journal, 6/02/09) This large discrepancy in numbers means, obviously, that taxpayers could lose tremendous amounts of “investment” money if Obama’s “profit first” plan is put into effect. What is this plan? Strip the company to a fraction of its former self, using far fewer workers and making far less money in the hopes that GM will then out-compete the foreign competition on the world market.
Capitalism's Crisis and our Response (tags)
Walden Bello delivered this speech at the Conference on the Global Criusis in Berlin, Marc h 20-21, 2009.
The Global Collapse: a Non-orthodox View by Walden Bello (tags)
"Orthodox economics has long ceased to be of any help in understanding the crisis. Non-orthodox economics, on the other hand, provides extraordinarily powerful insights into the causes and dynamics of the current crisis.."