An international tribunal …. Puerto Rico’s debt is ILLEGAL!!
A bombshell report from the Public Credit Comprehensive Audit Commission (PCCAC) of Puerto Rico was released this week. It documents how $4.4 billion – and possibly up to $30 billion – of Puerto Rico’s “public debt” is illegal.
If the debt is illegal, then Puerto Rico does not have to pay it.
You can read the entire PCCAC report below, via the link that is provided.
The 17 members of the PCCAC commission include securities analysts, banking executives, corporate attorneys, CPAs, university economics professors, and representatives from credit unions and organized labor.
Their report was announced in a press conference by Gov. Alejandro Garcia Padilla. It is written in clear and succinct language, contains dozens of footnotes, and lists over 100 supporting documents and evidentiary exhibits.
Here is the PCCAC report:
It is 44 pages long, but pages 2-3 tell most of the story:
As of 2006, Wall…
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