Wall Street, President Obama, the US Congress…all laughing at Puerto Rico


Laughing at the expense of the people of Puerto Rico!! Time to end this, Boricuas!! Time to stand and fight …. Civility, requests, reasoning … to no avail. Pres. Obama … Very disappointing!!

WAR AGAINST ALL PUERTO RICANS

War Against All Puerto Ricans: Revolution and Terror in America’s Colony

On July 10, 1984, Ronald Reagan signed the Bankruptcy Amendments and Federal Judgeships Act. Section 9 of that Act (11 U.S.C. § 901 et. seq.) specifically excluded Puerto Rico from the bankruptcy protections that are extended to all U.S. municipalities.

Thanks to Section 9, Puerto Rico cannot re-negotiate or re-structure its $73 billion public debt, without permission from its creditors. If the creditors say “PAY ME NOW,” the island must either pay or go into default. There is no middle road.

WALL STREET LAUGHING

What does PAY ME NOW mean?

Since Puerto Rico’s debt has been downgraded to “Junk Bond” status, the island must pay the highest interest rates. Currently, the annual yield on Puerto Rico bonds are an astounding 10 percent. With the triple-tax exemption factored in, Puerto Rico bonds are providing an annual 18 percent return.

http://www.bloomberg.com/news/articles/2015-05-26/puerto-rico-s-10-yields-prove-too-tempting-for-goldman-to-skip

While this is great for Goldman Sachs and the Oppenheimer Fund…

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About Dr. Rex

I'm originally from Puerto Rico. I was born in Santurce and raised in Rio Piedras. Have lived in Florida since 1999. I have a doctorate degree in Medicine; completed in 1976. My Internal Medicine specialty was completed in 1979. Worked for Puerto Rico's health system until 1985. At this time, I'm happily retired after working for the federal government for almost 28yrs. I want to offer any knowledge that I have to anyone "out there" who is interested. My views are liberal in almost every sense. My knowledge is "eclectic" - a bit of everything. Music and reading are my passion. Blogging has also become a very interesting endeavor. Metaphysical topics attract me. I'm interested in news reporting human issues like injustice, discrimination and abuse - the "wrongly" affected. My intention is to bring this knowledge to an understandable level and to help anyone in need. I'm open to questions and will answer them to the best of my ability. Currently working on an enterprise whose main mission will be to bring peoples of all walks of life together. To be one .... since we ALL are ONE!! The future looks bright and promising!!!

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