Episode 689: A Hedge Fund, A Country, And A Big Sailboat : Planet Money Argentina decided that it could take on the world. They had a bunch of debt and said, 'we're not paying.' Then a group of hedge funds took the entire country to court.
Episode 689: A Hedge Fund, A Country, And A Big Sailboat
Gabriela Barnuevo/AP
In this episode, we follow a debt default drama to its bitter end. Argentina decided that it could take on the world--it defaulted on its loans, dug in its heels and took a hard line against its lenders. The country would not pay what it was owed. Lenders blinked. Victory seemed near. But a group of hedge funds had a different plan. They took the entire country to court.
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