Posted on 05/01/2016 4:39:02 PM PDT by tcrlaf
Update: PR Governor Padilla has spoken...
-PUERTO RICO GOVERNOR SAYS WON'T PAY DEBT TOMORROW -PUERTO RICO GOVERNOR SAYS ISLAND WON'T PAY DEBT MONDAY -PUERTO RICO GOVERNOR: GOVERNMENT SIGNED MORATORIUM BILL YESTERDAY -PUERTO RICO NEEDS DEAL W/ CREDITORS AND/OR CONGRESS: GARCIA
And of course, demands a bailout... -PUERTO RICO GOVERNOR CALLS ON U.S. CONGRESS, PAUL RYAN FOR HELP
And then threatens...
-CRISIS WILL GET WORSE IF U.S. CONGRESS DOESN'T HELP: GARCIA -PUERTO RICO GOVERNOR CONCLUDES REMARKS TO COMMONWEALTH
A default on the $422 million due today is "virtually certain," S&P Global Ratings said April 11.
(Excerpt) Read more at zerohedge.com ...
ABSOLUTELY NO MONEY!!! ZERO!! Why ? Oh God , Would we bail out a foreign country?????? WE dont want to bail out other STATES!!! TO HELL WITH THEM!!
Send birth control
Never going to happen
Interestig link:
http://www.puertoricoreport.com/the-meaning-of-commonwealth/#.VyaZ-jArKM8
No.
Not
One
Dime
L
Let them Default. As soon as the Congress bails out PR then every state in the country with Pension and other problems will want one and there is no money for any of it.
Even Trump has said that the USA may have to partially default on the Debt.
The Republican Majority means nothing and has done nothing.
They’d get slaughtered by the Syrians. It’d be like West Side Story, only with the Sharks and the Jets all getting creamed by the Jihads.
Actually, if a government is allowed to go into bankruptcy than as a condition of the bankruptcy every elected official in that government should be required to resign and be forbidden to run for any public office of that government for 10 years or more. The politicians have no problem penalizing regular citizens for financial problems so it must be good to do. Speaking of the government workers courts should replace any government employee that has been employed more than a couple of years. After all the dead wood is removed then there should be new elections for every office.
American’s are sick of failure being rewarded and government employees being protected while citizens are not.
Q - Why don’t Puerto Ricans have checking accounts?
A - Have you ever tried to sign a check with a can of spray paint?
NO NO NO.
Without threat of bankruptcy (and that includes Fed.gov itself) there is absolutely no political self-restraint.
I wonder if there will be any good buying opportunities on beach front property?
A lot of Puerto Ricans in FL. GOP best be careful here.
So a government spends money on social/welfare stuff and cries when there’s no more taxpayer money to support that.
I wonder if there will be any good buying opportunities on beach front property?
Libre Puerto Rico!!! ;)
> If Trump were not in the race and more importantly, winning
this Bailout would have already been passed.
Jug Ears is always more than happy to put America farther into a financial death spiral
Default. According to EVERY financial group which shafted the territory over financing, this was the risk they were taking. If there is no default, there was no reason for the putative usury charged. Bankers said how much risk they were willing to take (while other bankers pocketed serious amounts of cash to put the deal together) so let them realize that risk.
As for Congress, we have ZERO need of bailing out YET ANOTHER banker. Stop giving away our future... I’d say the public’s money, but it is my great grand daughter’s money (assuming I ever have any.)
“Message to Puerto Rico..... Go to hell.....”
That’s the problem. They need to be allowed to do a Chapter 9 bankruptcy or their defaulted debt will just be hanging out there waiting for someone to “buy” up the debt and using political connections, get the Fed to buy the “asset”.
They aren’t paying. Whether through default or Chap 9, they aren’t paying. Default actually costs them less money, but it also means that they have no chance of doing anything but self-funding their government operations. That means a large fraction of those who work for or depend on government services will no longer do so.
It will be a laboratory for the rest of the US and would be interesting....
Still a negotiated Chapt 9 will give them an opportunity to get some level of financing and avoid the full crush of their poor decisions....
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