Reuters – Creditors of the banks cut their losses in the years after the meltdown, selling assets to hedge funds. Since then there have been debt restructuring talks focused on the three banks.
But the hedge funds and the government have been at loggerheads over how and when to restructure the debt. The creditors have said the government has not engaged or responded to their overtures, while the government has said it is still studying the possible economic impact of any deal.
