This is pretty rich:
Hedge funds have been known to use hardball tactics to make money. Now they have come up with a new one: suing Greece in a human rights court to make good on its bond payments.
The novel approach would have the funds arguing in the European Court of Human Rights that Greece had violated bondholder rights, though that could be a multiyear project with no guarantee of a payoff. And it would not be likely to produce sympathy for these funds, which many blame for the lack of progress so far in the negotiations over restructuring Greece’s debts.
The tactic has emerged in conversations with lawyers and hedge funds as it became clear that Greece was considering passing legislation to force all private bondholders to take losses, while exempting the European Central Bank, which is the largest institutional holder of Greek bonds with 50 billion euros or so.
So while millions of Greeks wallow in poverty, unemployment, and squalor, a bunch of hedge fund jackasses will be suing them in the European Court of Human Rights, hoping to squeeze a little bit more blood from the stone. It can’t be said enough- the balls on these guys.
What part of risk do these guys not understand? No one guarantees you the right to a profit, it is up to you to do due diligence and make sure your investment is sound. These guys want to turn that on its head and say it is a human right to profit on your gambling. Which, I guess, makes as much sense as a corporation being viewed as a person.