before you accuse me, take a look at yourself...

Leemos en el NYTimes

Argentina says that payment means it will not default, because it will not be the country’s fault if the exchange bond holders are not paid. The judge says Argentina acted illegally in making the payment, but he has not decided what Bank of New York Mellon should do now. The hedge funds want the judge to order the bank to return the money to Argentina. The bank, fearing suits from bondholders, wants to keep the money until all this is sorted out. The judge is also pondering that issue.

As Wednesday approaches, the judge has a lot to think about. It would be better if he had done some of that thinking before he issued his order, or if the appeals court or the Supreme Court had forced him to do so.

Massa