Puerto Rico Leads the Way...
Page 1 of 1 • Share •
Puerto Rico Leads the Way...
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...!

.
_________________
..."The beauty of being a liberal is that history always begins this morning..."
News Hawk- Posts : 7977
Reputation : 9
Join date : 2013-01-16
Location : Winnipesaukee & Florida
Re: Puerto Rico Leads the Way...
Isn't that also why they want to become a state? So we can bail them out?
WHL- Admin
- Posts : 6038
Reputation : 11
Join date : 2013-01-14
Re: Puerto Rico Leads the Way...
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...

.
_________________
..."The beauty of being a liberal is that history always begins this morning..."
News Hawk- Posts : 7977
Reputation : 9
Join date : 2013-01-16
Location : Winnipesaukee & Florida
Re: Puerto Rico Leads the Way...
Sure, dump everything on the US taxpayers. We take care of the world.
WHL- Admin
- Posts : 6038
Reputation : 11
Join date : 2013-01-14

» Bay Fishing in Puerto Rico December 2013
» Jamaican sensation Ashmeade runs 10.05 PB
» Rick Pitino is the new coach of Puerto Rico National team.
» connecting buddy leads
» These's Gold in those Leads
» Jamaican sensation Ashmeade runs 10.05 PB
» Rick Pitino is the new coach of Puerto Rico National team.
» connecting buddy leads
» These's Gold in those Leads
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum