diverse Pressemeldungen zu den Vultures

Press Release, Presidencia de la Nacion

Vulture funds campaign, with first and last name

Saturday, July 28, 2012

The ambassador in the U.S., Jorge Arguello, reported in a letter sent to every legislator the smear campaign that is being carried forward by the vulture funds gathered in ATFA, which published full-page ads in two of the most circulated newspapers in the Congress – The Hill and Politico.

“We’ve given a first and last name in the Congress to those responsible for the campaigns that on a regular basis are being pushed by the vulture funds to damage the image of our country. The equation by these speculators is simple: the worse Argentina gets, the better it is for their pockets,” Arguello argued in reference to the letter that was sent out yesterday, with the Argentine ambassador’s signature, to the 535 members of the American Congress.

“I’m writing to you in relation to the defamation campaign against Argentina which has recently intensified and is led by Robert Shapiro in the name of American Task Force Argentina (ATFA), the entity backed by the vulture funds NML and EM Ltd.,” Arguello wrote.

“Their only purpose is to confuse those responsible for policy, as well as the general public by generating the false impression of a government characterized by a poor management of every issue, and a country in decline, as said by Paul Singer (who controls part of NML Fund): ‘Our main objective is to find cases of bankruptcy where our capacity to control or influence the process is what determines the value.’ They will only have that capacity if those responsible for policy base it on the image that these funds have constructed through the manipulation of information,” he added.

Also, the ambassador said that “the attacks by the vulture funds represents a desperate attempt to save a speculative and unwise maneuver from the financial point of view. Their selfish interests run against those of U.S. citizens. In effect, Mr. Paul Singer made a fortune through derivative financial instruments, one of the causes of the financial crisis of 2008 in the United States. The example of Mr. Kenneth Dart (EM Ltd. Fund) comes out even more evident: he renounced his U.S. citizenship and established his legal domicile in the Cayman Islands with the goal of avoiding payment of millions of dollars in taxes.

Finally, Arguello pointed out that “since I arrived I have maintained a constructive dialogue with members of the U.S. Congress, which has not allowed these spurious interests dictate what actions they should take. Thanks to this dialogue, we have made evident what the true interests of the vulture funds are, as well as the efforts made by Argentina over the last decade to honor its obligations. Argentina reached a common agreement on a solution regarding 92% of its debt. On the other hand, more than 90% of the lawsuits filed in U.S. courts against Argentina correspond to non-U.S. citizens or private entities. The majority of the complaints come from the vulture funds, who are not interested in reaching a viable solution,” he said.

“The vulture funds have not had success in their speculative efforts. That says a lot around the solidness of U.S. principles and values, and shows not only how isolated those funds are, but also it puts in evidence the commitment and efforts that Argentina has made to honor its obligations, on the bases of fairness and non-discrimination. Therefore, I hope to be able to continue working with you for the benefit of our peoples,” the ambassador concluded.

Telam

Arguello denounces the actions of the vulture funds against Argentina

Saturday, July 28, 2012

The ambassador in the United States, Jorge Argüello, sent this Friday a letter to 535 members of the U.S. Congress, detailing “the defamation campaign being conducted by the vulture funds gathered together in ATFA (American Task Force Argentina), against Argentina”.

This way, “we’ve given a first and last name in the Congress to those responsible for the campaigns that on a regular basis are being pushed by the vulture funds to damage the image of our country”, Arguello said through a statement.

In the letter, the ambassador told all of the U.S. representatives that “the defamation campaign against Argentina which has recently intensified and is led by Robert Shapiro in the name of American Task Force Argentina (ATFA), the entity backed by the vulture funds NML and EM Ltd.”

He said that “their only purpose is to confuse those responsible for policy, as well as the general public by generating the false impression of a government characterized by a poor management of every issue, and a country in decline, as said by Paul Singer (who controls part of NML Fund): ‘Our main objective is to find cases of bankruptcy where our capacity to control or influence the process is what determines the value.’”

However, the Argentine official said, “they will only have that capacity if those responsible for policy base it on the image that these funds have constructed through the manipulation of information.”

For his part, Arguello said to the American representatives that “the attacks by the vulture funds represents a desperate attempt to save a speculative and unwise maneuver from the financial point of view,” as their “selfish interests run against those of U.S. citizens.”

In fact, Paul Singer “Paul Singer made a fortune through derivative financial instruments, one of the causes of the financial crisis of 2008 in the United States”, but “example of Mr. Kenneth Dart (EM Ltd. Fund) comes out even more evident,” who “renounced his U.S. citizenship and established his legal domicile in the Cayman Islands with the goal of avoiding payment of millions of dollars in taxes.”

Also, the diplomat pointed out that thanks to the “constructive dialogue” maintained since his arrival in Washington with members in the Capitol, it has been “evident what the true interests of the vulture funds are, as well as the efforts made by Argentina over the last decade to honor its obligations.”

On one side, Argentina “reached a common agreement on a solution regarding 92% of its debt”, while on the other “more than 90% of the lawsuits filed in U.S. courts against Argentina correspond to non-U.S. citizens or private entities.”

As such, “the majority of the complaints come from the vulture funds, who are not interested in reaching a viable solution”, said the letter from the top Argentine representative in the United States.

Lastly, Argüello said that the vulture funds “have not had success in their speculative efforts,” and “that says a lot about the solidness of U.S. principles and values.”

In fact, this “shows not only how isolated those funds are, but also it puts in evidence the commitment and efforts that Argentina has made to honor its obligations, on the bases of fairness and non-discrimination.”

(Note: this story ran in its entirety in El Patagonico on Sunday)

Tiempo Argentino (InfoNews)

From Arguello to the congressmen

By Tiempo Argentino

The campaign of the Argentine ambassador in the US against the vulture funds

The ambassador in the United States, Jorge Argüello, sent this Friday a letter to 535 members of the U.S. Congress to detail the names of those behind the defamation campaign against Argentina brought forward by the vulture funds. In the text, it was said that those mainly responsible are Robert Shapiro, representative of ATFA, the association that is made up of the funds, and Kenneth Dart and Paul Singer, heads of EM Ltd and NML, respectively.

"Their only purpose is to confuse those responsible for policy, as well as the general public by generating the false impression of a government characterized by a poor management of every issue, and a country in decline", said Aguello in the text. For this he gives the example of a phrase from Singer, who pointed out that his main objective is to find bankruptcy cases to control or influence in the processes of debt restructuring.

With the goal of responding to the congressmen, Arguello also says that the selfish interest of the funds goes against those of US citizens, as they have already made fortunes through derivative financial instruments, one of the causes of the 2008 financial crisis. “The example of Dart is even more evident: he renounced his citizenship and established his domicile in the Cayman Islands with the goal of avoiding payment on millions in taxes,” he said.

Lastly, he pointed out the failure of the speculative funds and said that this shows a great deal “about the solidness of American principles and values” and shows the isolation of the funds adn the commitment from Argentina over its obligations.

(NOTE: This piece ran in its entirety on Cronista.com on Sunday)

Clarin

Arguello, in campaign against the vulture funds in the United States

Sunday, July 29, 2012

The ambassador sent a letter to members of Congress of that country defending Argentina’s position.

The Argentine ambassador in the United States, Jorge Arguello, is bringing forward a mission against the vulture funds that didn’t enter the debt swaps and are continuing to litigate against the country to collect on bonds in default. Last Friday, the official sent a letter to the 535 members of the American Congress explaining that “the defamation campaign against Argentina which has recently intensified and is led by Robert Shapiro in the name of American Task Force Argentina (ATFA), the entity backed by the vulture funds NML and EM Ltd.”

With that document, Arguello argues that he has “given a first and last name in the Congress to those responsible for the campaigns that on a regular basis are being pushed by the vulture funds to damage the image of our country.”

The official said that “their only purpose is to confuse those responsible for policy, as well as the general public by generating the false impression of a government characterized by a poor management of every issue, and a country in decline”. Argüello railed in the letter against Paul Singer (of the NML fund) and Kenneth Dart, of EM Ltd.