Puerto Rico Leads the Way...

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Puerto Rico Leads the Way...

Post  News Hawk on Tue Jul 01, 2014 8:20 pm


Ratings company Moody's on Tuesday slashed Puerto Rico's debt rating by three notches into even deeper junk status after the US territory passed a debt-restructuring law.

Moody's Investors Service cut the rating to "B2" from "Ba2" and said the outlook was negative, indicating further downgrades were possible.

Now dubbed the "Greece of the Caribbean," the island is, like Greece, reeling under massive debt.

Over the past decade, the commonwealth's debt has doubled to nearly $70 billion and investors are growing increasingly worried the government is running out of cash.

In a bid for debt relief, the Puerto Rican authorities recently adopted a law that allows for the restructuring of part of its debt by allowing public corporations to defer or reduce payments on outstanding payments, to the detriment of creditors.

http://www.france24.com/en/20140701-moodys-pushes-puerto-rico-debt-deep-junk-status/

Yeah...That'll work...!


 Sad 


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Re: Puerto Rico Leads the Way...

Post  WHL on Wed Jul 02, 2014 7:20 am

Isn't that also why they want to become a state?  So we can bail them out?
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Re: Puerto Rico Leads the Way...

Post  News Hawk on Sun Apr 12, 2015 7:49 am

WHL wrote:Isn't that also why they want to become a state?  So we can bail them out?

Not exactly...

Puerto Rico exports its drug addicts to Chicago

It all started about a year ago when I began noticing more homeless men in the Chicago neighborhood where I work. Back of the Yards is a community that faces some of the city’s toughest problems: joblessness, crime, drug use.

Many of these men would be sitting in doorways or shuffling along, many times asking for money.

One day, I asked one of them: “Where are you from?” He told me a story that I later heard again and again and again.

The men told me they were from Puerto Rico. They were addicted to heroin and they ended up in Chicago because someone in Puerto Rico drove them to the airport and put them on a plane with a one-way ticket to Chicago.
WBEZ

A bill was written in Congress to support Puerto Rican voting in US elections, despite the US Constitution that only citizens in states can vote...

scratch

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Re: Puerto Rico Leads the Way...

Post  WHL on Sun Apr 12, 2015 8:05 am

Sure, dump everything on the US taxpayers. We take care of the world.
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