NO GO

Argentina Debt Plan Ruled 'Lawless'

Court says no.

Can't blame a gal for trying. Argentina's President Cristina Kirchner tried to get creative by asking investors holding defaulted bonds to swap them for new debt -- but it’s not going to work. The country had been forced to default on those bonds because it refuses to pay the hedge funds holding out for full payment on bonds it defaulted on in 2001. "I want to be very clear, this proposal is a violation of the current orders of this court... it is illegal and the court directs that it cannot be carried out," the judge said. The judge then said Argentina is acting like a man who shows up to buy a $100,000 house with only $80,000 in hand, but insists that "$80,000 is a lot of money and my family is ready to move in".