Reprinted from us4.campaign-archive1.com
The "vulture" financier now threatening to devour Argentina
can be stopped dead by a simple note to the courts from Barack Obama.
But the president, while officially supporting Argentina, has not done
this one thing that could save Buenos Aires from default.
could prevent vulture hedge-fund billionaire Paul Singer from
collecting a single penny from Argentina by invoking the
long-established authority granted presidents by the US constitution's
"Separation of Powers" clause. Under the principle known as "comity",
Obama only need inform US federal judge Thomas Griesa that Singer's suit
interferes with the president's sole authority to conduct foreign
policy. Case dismissed.
Indeed, President George W Bush invoked this power against the very same
hedge fund now threatening Argentina. Bush blocked Singer's seizure of
Congo-Brazzaville's US property, despite the fact that the hedge fund
chief is one of the largest, and most influential, contributors to
Notably, an appeals court warned this very judge, 30 years ago, to heed
the directive of a president invoking his foreign policy powers. In the
Singer case, the US state department did inform Judge Griesa that the
Obama administration agreed with Argentina's legal arguments; but the
president never invoked the magical, vulture-stopping clause.
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Greg Palast's investigative reports appear in Rolling Stone, the Guardian and on BBC Television. His latest film, The Best Democracy Money Can Buy, on how Donald Trump stole the 2016 election, is available on Amazon. Palast is Patron of the Trinity (more...