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Saturday, February 20, 2010

Vulture Capitalists Need to be Slapped down

I would suggest prosecutions of the folks who are pursuing Russia regarding bonds issued by the Czar:

The Russian government vowed to “defend our rights” after French holders of czarist bonds valued at as much as 100 billion euros ($137 billion) threatened to sue the Kremlin and seize property it owns in Paris.

“May God help them,” Viktor Khrekov, a spokesman for the Kremlin Property Department, said by phone today from Moscow, after the Paris-based International Federative Association for Russian Bond Holders, or AFIPER, pledged to sue to recoup part of the century-old debt.
The empire of Russia has not existed since 1917.

That country was liquidated, along with Czar Nicholas and his family.

People are buying this stuff at cents on the dollar, and then attempting to get be enough of an annoyance to coerce some payments out of sovereign nations.

It's particularly egregious behavior because France and Russia had a final settlement since 1996.

Surely, if terrorism statutes can be used against the reserves of Icelandic banks, it can be used against these extortionists.

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