Surprise! American courts side with American vulture fund to screw 40 million Argentines

That was yesterday.

The cherry on top was the downgrade Standard and Poor's issued on Argentine debt today.

Obviously, in determining the "greater good", American courts have no problem putting the interests of one opportunistic American hedge-fund operator ahead of the interests of 40 million Argentinians.

This is a case that has gone on for years, and revolves around Paul Singers attempts to use the courts to extort face value plus interest on Argentine sovereign debt he bought for pennies on the dollar.

This is a prime example of the sort of destructive economic activity that should be taxed at a rate of 100%.