There is no bailout for Puerto Rico. No one is suggesting an infusion of cash to help them. Link or it didn’t happen.
What Puerto Rico is asking to do is reorganize their debts in an orderly fashion. Something states can a ready do.
Let me tell you what is happening . Puerto Rico has handed out $77 billion in bonds to idiots on Wall street that bet you would guaranty that crappy drbt so they would finance them. The money went for welfare and government Unions. Puerto Rico has $44 billion in unfunded pensions. This isn’t about debt “restructure”— this is about cutting Treasury department checks to WALL STREET!~! The same Wall street that bought Illinois crap debt and California debt. We don’t pay for for state debt— It is not our concern . We darn sure don’t want to pay Wall street for PR debt.