[lbo-talk] Greece: 32 cents?

[Doug Henwood]

Speaking of debt writedowns:

http://www.bloomberg.com/news/2012-01-17/greece-nearing-deal-with-private-creditors-marathon-ceo-says.html


> Greece is nearing a deal with private creditors that would give them cash and securities with a market value of about 32 cents per euro of government debt, according to Bruce Richards, a hedge-fund manager on the creditors’ committee.

Hedge fund manager! What a contrast with the Latin debt crisis in the 1980s, when William Rhodes of Citi and a dozen colleagues did it all.

Doug