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Trump stated today that the US will take care of their debt.
President Trump said Tuesday that the U.S. would have to “wipe out” Puerto Rico’s multi-billion dollar debt after Hurricane Maria.
"They owe a lot of money to your friends on Wall Street and we're going to have to wipe that out," Trump said during an interview with Fox News. "You can say goodbye to that."
If true, that's the biggest news since the hurricanes themselves. The previous poster may have been right: These hurricanes were the best thing ever to happen to PR. Except for the dead people, the US Govt can't help them.
NO NO NO.
Most of PR's debt was issued in BONDS, those bonds are held by INVESTORS
the INVESTORS would be the ones who lose not you.
PLEASE READ THIS PART
PR is NOT bankrupt, they have a very large amount of debt.
PR's real problem is not being able to declare bankruptcy like states can, thus greatly reducing their ability to renegotiate their loans.
Most of the debt is held by NON government entities. Under normal conditions the bond holders would simply lose their monies as many investors lost their monies on bonds and stock during the great recession.. and again because PR cannot just go bankrupt they are stuck with loan terms no state would ever be stuck.
PR got into this position in part due to the US gov pulling their special tax status for corps which resulted in companies exiting enmass, and like any nation that has an easy way to pull in big bucks PR got addicted to the easy jobs and monies.
PR does not have senators in DC to represent them and they only get a limited voting rights rep.
PR pays federal taxes and thus deserves to be treated just like FL or TX etc. after all we have plenty of "taker" states in the 48 and they get the same help as "giver states.
NO NO NO.
Most of PR's debt was issued in BONDS, those bonds are held by INVESTORS
the INVESTORS would be the ones who lose not you.
PLEASE READ THIS PART
PR is NOT bankrupt, they have a very large amount of debt.
PR's real problem is not being able to declare bankruptcy like states can, thus greatly reducing their ability to renegotiate their loans.
Most of the debt is held by NON government entities. Under normal conditions the bond holders would simply lose their monies as many investors lost their monies on bonds and stock during the great recession.. and again because PR cannot just go bankrupt they are stuck with loan terms no state would ever be stuck.
PR got into this position in part due to the US gov pulling their special tax status for corps which resulted in companies exiting enmass, and like any nation that has an easy way to pull in big bucks PR got addicted to the easy jobs and monies.
PR does not have senators in DC to represent them and they only get a limited voting rights rep.
PR pays federal taxes and thus deserves to be treated just like FL or TX etc. after all we have plenty of "taker" states in the 48 and they get the same help as "giver states.
You really hit the nail on the head here evilcart, well done.
I would also add that Puerto Ricans also have fought in all our wars too, so let's stop treating them like second-class citizens.
People act like Puerto Rico's debt is solely the fault of the Puertorican government, but it's simply not true. They've been getting shafted by the U.S. government for decades, going as far back as the early 20th century.
Fake news. Can't trust a word Fox says. The only ones botching the efforts in PR are FEMA, and the Moron in Chief.
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FBI in Puerto Rico investigating if corrupt local officials are 'withholding' or 'mishandling' crucial supplies
