“Guess who gets to pay for this?
You and me.”
You’re jumping the gun. This is the logical next step in the negotiations between the creditors and the Puerto Rican authorities. There’s a LOT of incorrect facts out there . . . the equivalent of fake news . . .
The General Obligation debt has been trading at a discount for years now due to the probability of this hair cut in the face value of the bonds. But a number of other PR bonds, like specific revenue bonds, are holding up at Par just fine.
Don’t be fooled into thinking this is ALL general obligation debt, it isn’t. Not by a long shot.
The government unions need to suffer the most. Cut their pension by 90%.
For years and years they kept giving themselves huge raises and benefits at the expense of the tax paying public.
Now it’s time they paid the price for their theft. Let them starve.
There you go posting facts again. Now let's get back to "The Sky Is Falling" 🤣🤣🤣
There will be a haircut coming. Fairly large one...