Argentina's Default Story

The Washington Post recently ran an article chronicling the latest chapter in Argentina's default story. Since the country's default in 2001, there's been a lot of tension over the prospect for repayment of its loans. Now, the country is offering 32 cents on the dollar to investors which has many upset and even filing lawsuits against the economically beleagured country. I think Argentina's default is a great testament to the greed of investors. Everyone was ready to hop on the Argentine economic bandwagon when it was running great, adding more and more to the country's debt load. Then they were suddenly surprised by the default? They should've known better. It's not like this is the first of Argentina's economic and financial woes.