Hedge Funds for Human Rights

At a time when finance is coming under intense scrutiny, it is heartening to learn about hedge funds’ concern about human rights. Greece is wrestling with the idea of asking (forcing) investors to accept 32 cents on the dollar. Hedge funds have been buying up the paper in the expectation that they can force Greece to pay in full.

Now the hedge funds is toying with the idea to sue the country in the European Court of Human Rights on the grounds that Greece had violated bondholder rights, surely a more serious matter than the slaughter of a few dissidents demanding democracy.

At least we now know that capital is seriously concerned about more than maximizing profits.

Thomas, Landon Jr. 2012. “Hedge Funds May Sue Greece if It Tries to Force Losses.” New York Times (19 January)
http://www.nytimes.com/2012/01/19/business/global/hedge-funds-may-sue-greece-if-it-tries-to-force-loss.html?_r=1&pagewanted=all

No comments yet

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: