Slate Money - Money Talks: What Happens When a Country Won’t Pay Its Debt?
Slate Money
Slate Podcasts
4.1 • 1.1K Ratings
🗓️ 19 March 2024
⏱️ 45 minutes
🧾️ Download transcript
Summary
For this edition of Money Talks, Felix Salmon chats with Jay Newman, the former hedge fund manager who helped Elliot Management recover $2.4 billion from Argentina after that country defaulted on its loans. Jay shares his philosophy on sovereign debt and recounts a 16-year battle full of judicial intrigue.
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Podcast production by Jared Downing and Cheyna Roth.
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Transcript
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| 0:20.7 | Hello and welcome to Money Talks from Slate Money, I'm Felix salmon of Axios and this week I am I am going to nerd out on my single favorite subject in the entire history of |
| 0:26.8 | finance which is not just sovereign debt restructuring but Argentine |
| 0:31.9 | sovereign debt restructuring but Argentine sovereign debt restructuring. |
| 0:34.0 | This is going to be a historic conversation. |
| 0:38.8 | I'm sure about this. |
| 0:39.7 | It's going to be absolutely amazing. |
| 0:41.6 | Here at Slate Money, we receive a lot of books and we read a lot of |
| 0:44.8 | books and we talk to a lot of authors and in this case I received a book from a chap |
| 0:49.2 | named Greg Maykov all about the court fight over the Argentine debt restructuring that began I guess in mid |
| 0:56.1 | 2000s and it was a great book and I blurbed it and it's out and you should go read it it's called |
| 1:00.2 | default by Greg make off and the person I am talking to about this book |
| 1:04.8 | is not. |
| 1:05.5 | Instead, I am talking to Jay Newman. |
| 1:09.4 | Jay, welcome. |
| 1:10.9 | Felix, I'm extremely excited to be here. If you've heard about this case. Welcome. And Jay basically is Elliot for these purposes Jay was working for Elliot Jay represented |
| 1:26.7 | Elliot Jay was the person who came up with the whole strategy so we're going to talk about |
| 1:31.2 | this big fight between Jay Newman and the country of Argentina and this is like Jay who's one guy on this show versus an entire sovereign nation he |
| 1:40.4 | spoiler alert winds up winning the fight to get paid back on the bonds that Argentina |
| 1:47.1 | issued and then defaulted on. There's a bunch of judicial intrigue. This thing goes on for |
| 1:52.2 | 16 years. We're going to talk about how it began |
| 1:54.9 | how it ended and everything in between it's all coming up on money talks by |
| 2:01.1 | slate money Money. |
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