Experience Stern | News & Events

Excerpt from Marketplace -- "'Asking for full payment is totally appropriate,' he says. The original owners of a country’s securities are ill-equipped to negotiate when those countries renege on their commitments, and the vultures have the appetite and ability to play hardball. Like vultures in the wild, vulture funds may serve an important ecological purpose. 'They provide in the case of distressed assets a liquidity that simply wouldn’t be there,' he says."

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