My letter to USA Today re: John Waggoner's Sleight-of-Hand

Dear Sirs:

John Waggoner perpetrates a sleight-of-hand on his readers when he equates investing with gambling in regard to Paul Singer demanding repayment of his Argentine bonds.  Investing is ruled by law, and Mr. Singer is demanding that the law be upheld.  In the long run even the Argentinians may thank Mr. Singer, although I doubt it.  Perhaps future governments will not be as irresponsible as past ones, knowing that they cannot easily renege on their contracts.