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As Vulture Funds Circle, Puerto Rico Set to Default on Debt


#1


#2

I hope they start printing thier own money, and declare old debts null and void, let the collectors get nothing, that would be what they get for not negotiating...


#3

One nation, under mammon, with liberty and justice for .01%.


#4

Amazing! An elected American official saying that he is putting the needs of people before bank and hedge funds. Bravo and may this be the start of politicians standing up for their flesh and blood constituents rather than the vultures of finance.
I am not in favor of restructuring the debt which to me just means tying the debtor deeper in debt, sort what happened in Greece which didn't default. Let them default and the creditors take the hit.


#5

Where did the $70 Billion debt come from? Was it corruption and bankster fraudulent transaction or what? It seems we need to know what brought Puerto Rico to this point? Was this debt for education, health, infrastructure? Were peoples lives made better?

Set the stage for this debt please?


#6

Vultures and their extortion. Watch as our corporate owned congress refuses to give them basic U.S. bankruptcy. The Republicans do it in every state they control just like it's been done to Greece. I'm so ashamed of where this country is morally when it comes to things like this. Their greed has no bounds.We've lost our moral center and are caving in to Fascism.
Vote for Bernie, write him in if you have to. We have to show them we are done supporting candidates that further push us into the very things killing this country. Like Hillary's policies.


#8

US colonialism in Puerto Rico is crumbling and the US can not hide anymore the financial and social collapse and failure of its colonial system. Puerto Rico was an overseas province of Spain and puerto ricans were spanish citizens. Very different from what was happening in Cuba, Puerto Rico was at peace and was violently separated from Spain by the US invasion of 1898, then turned into a US colony under a military regime. I recommend the book 'War against all Puerto Ricans'' by Nelson Denis if you are interested in the Puerto Rican situation, it is an excellent book.


#9

Vulture capitalists must be brought down - societies refusing to pay financial usury "debt" to parasite bankers et al is a great place to start.
Education loans is another - what society can thrive when only the children of the wealthy can be educated and others must pay higher interest than do bankers? Education must be structured to serve the entire society, not only the 1%! Bernie Sanders has the plan to put a tiny cost to parasite stock trades to pay for the education & future of society.......


#10

"I decided that essential services for the 3.5 million American citizens in Puerto Rico came first.": That is leadership. Time for Puerto Rico to declare its independence! Solidarity!


#11

I was going to post this same item.

Oliver's broadcast shows how hospitals have to cut off power, that more than 100 public schools have closed, and that the retail sales tax is now close to 11%.

The island did plenty of Austerity but the types of sociopaths who create and push Hedge Funds are hardly content and do their utmost to rob nations.

That the business model of the hostile take-over is now applying to nations should be illegal.

Puerto Rico is being turned into the Greece of the Caribbean.

I have family there... and they are feeling the pinch big time.


#12

Good for you, Puerto Rico!


#13

The US "Justice system" encourages the vultures (like Paul Singer destroying Argentina) to go in and take lives and futures from those without the influence to fight this plague.