Re: Don’t Cry for Argentina
Related to my post from last month: On a separate pending certiorari petition filed by Argentina arising from its same defaults on its bond obligations, Solicitor General Donald Verrilli weighed in two weeks ago in favor of Argentina’s cert petition.
In light of the fact that Argentina has made clear that it will defy any adverse judgment that it receives on this matter from American courts, I find the SG’s position remarkable. I recognize that the Obama administration seems intent on degrading American sovereignty, but I’m still very surprised that SG Verrilli would recommend that the Court grant review of a petition by a party who has flaunted its intent to flout the Court.
In the supplemental brief that they filed yesterday in response to the SG, the bondholders properly cite Argentina’s defiance as one of several factors that weigh decisively against the Court’s granting review, and they fault the SG for his remarkable “fail[ure] to note [Argentina’s] brazen position that it will flout any adverse judgment.”