And the Money Kept Rolling In (and Out) Wall Street, the IMF, and the Bankrupting of Argentina

Well-written, interesting fact-based. A reality shock behind one of the biggest debt restructures / defaults in history.

Incredibly useful study of Argentina’s financial patterns - reading it meant no surprises when IMF stepped in during May 18.

The author offers a fascinating recount of the events causing Argentina to default on its debt pile built up until 2001. The book is not only highly interesting due to the fact that it offers ample insight from many players' perscpectives (especially the IMF) but also because it manages to brilliantly point to the policy errors made in that time.The most striking fact one might take from this story though is that economic policy - especially in times of distress - seems a matter of trial and error (with a tendency to the latter as Martin Gilman's 'No Precendent, No Plan: Indisde Russia's 1998 Default' confirms).Jason Manolopoulos (Greece's 'Odious' Debt) draws many parallels to Argentina's default in his book and often refers to Blustein's conclusions - and as events are unfolding (end 2011) it appears like Argentia's case is to be repeated. Thus, there is a lot to learn from this book.

With the IMF being increasingly seen as the saviour of the EM sphere, this book is a chilling account of the ineptitude and political chaos that is epedemic in this institution. Argentina in 1998-2001 was an accident waiting to happen as the IMF tried to prop it up, eventually making the situation worse.This book pulls no punches. It exposes the players and suggests ways of preventing it happening in other countries. It is a crying shame that much of the advice here will be ignored by policymakers.It is a must read book for anyone in an emerging market economy. I hope a few copies find their way onto the desks of those working at the IMF.SAR

Very detailed background as to what happened in and to Argentina and what may happen to other countries. Well researched, relatively easy read. Good analysis as to what happened, and an interesting look behind the scenes, the mistakes made, the egos involved, etc. Perhaps a must read for all of those trying to prop up failing economies by throwing more money their way and a good case being made for permitting a country to go bankrupt and to start over.