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sandensea

(21,624 posts)
4. True. Right-wingers like to bemoan 'entitlements' .
Mon Jun 22, 2020, 03:15 PM
Jun 2020

But you'd be hard-pressed to find people with bigger senses of entitlement that theirs.

In Argentina, there's currently a big hubbub over the possible nationalization of Vicentín - the country's 6th largest agro-exporter.

Right-wingers have quickly taken up the issue as a battle horse, organizing (scantily-attended) protests under the banners of "In defense of private property" and "We're all Vicentín" - a bastardization of France's "We're All Charlie Hebdo" in 2015.

But Vicentín's owners basically hollowed out the firm, leaving $1.4 billion in bad debts to 2,600 creditors - a bust-out much like Bain Capital's with Toys 'r Us, Paul Singer's with Delphi auto parts, and Lampert's with Sears.

They basically took the money and offshored it to Switzerland.

$400 million of that debt is with the Argentine public sector, plus $220 million with the World Bank (!). And 1,900 creditors are farmers themselves, owed an average of $200,000 each for purchased grain that Vicentín never paid for.

Many are small farmers that may fold if they're not paid soon.

But I guess their right to private property doesn't count.

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