the holdout investors are looking for $1 poeu .$1.5 billi buenos aires. they blame the u.s. >> there's been malpractice by the u.s. justice system for failing to act adequately and don't come to the excuse that it is independent. the truth is that it is independent of reason. >> it is argentina's second default in 13 years but analysts say it will be less serious than 2001. back then the government collapsed and many lost their jobs. >> the main thing is on the investors' side is the state companies and private companies will find it increasingly hard to access capital markets. >> the holdouts have rejected a write-down of debt and may want the full face value but argentina doesn't want to give in though it has the money available. but with financial turmoil looming they think they will compromise. >> the bond holders are not getting paid because of the holdouts. so, there's going to be enormous pressure on the holdouts to accept much less than they had hoped for. >> argentina selected default credit rating will remain in place until its overdue payment i