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Hedge Funds Have Human Rights Too

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Hedge Funds Have Human Rights Too

By Armando
Discussing The Law: TalkLeft's View On Law and Politics

 

The latest in corporations are people too :

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Hedge funds have been known to use hardball tactics to make money. Now they have come up with a new one: suing Greece in a human rights court to make good on its bond payments. The novel approach would have the funds arguing in the European Court of Human Rights that Greece had violated bondholder rights[.]

It's probably just a semantic question (this may be the court with jurisdiction over the subject matter), but it is certainly funny, in a strange way, to see hedge funds suing in a human rights court. The optics are not the best. The legal argument goes as follows:

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.

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(Emphasis supplied.) Ron Paul might say "We are all Europeans now!" And Mitt Romney might consider apologizing for America not agreeing that property rights are human rights.

 

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articles reprinted from Dailykos.com

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