~~June 5, 2016~~
SANDERS ON PUERTO RICO
As far as I know, Senator Sanders has been the only presidential candidate to address Puerto Rico’s financial crisis in a sensible way.
He has even made it a point to mention and discuss the topic.
For that alone, I tend to think he’d make a better president.
I’m thinking here about my country.
Evem if he isn’t the nominee and the final candidate, I still know who I am voting for.
Seems to be, Senator Sanders has an idea of where Puerto Rico is located and what the current financial crisis means to millions of American citizens living in the Island.
I wish the one other candidate would be as seemingly interested as “Bernie”.
The third candidate doesn’t even count.
The solution to Puerto Rico’s debt crisis is not more austerity. The solution is more economic development, more jobs, and less poverty. This will lead to more businesses, an expanded tax base, and, in the long-term, less debt.
Unlike a bipartisan House of Representatives bill that would establish a federal oversight board to renegotiate the massive debt with investors, Sanders’ bill would create a “Reconstruction Finance Corporation of Puerto Rico” that would protect public pensioners from cutbacks and “concentrate losses among vulture funds,” according to a summary.
“It is morally reprehensible that Wall Street vulture funds are demanding that Puerto Rico fire even more teachers, close more schools, cut pensions and slash the minimum wage so that they can reap huge profits off the misery of the people of Puerto Rico,” Sanders said in a statement.
The term vulture funds is a derogatory reference to specialized investing in deeply discounted or distressed assets, typically bonds, by buying them up on the cheap in hopes of profiting on the expectation of a credit restructuring
“As it appears in … full read/full credit”
U.S. Senator Bernie Sanders
Born in 1941 in Brooklyn, Bernie was the younger of two sons in a modest-income family. After graduation from the University of Chicago in 1964, he moved to Vermont. Early in his career, Sanders was director of the American People’s Historical Society. Elected Mayor of Burlington by 10 votes in 1981, he served four terms.
Before his 1990 election as Vermont’s at-large member in Congress, Sanders lectured at the John F. Kennedy School of Government at Harvard and at Hamilton College in upstate New York.
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#WeAllAreOne #ItIsWhatItIs #DrRex #hrexachwordpress
~Sanders Slams Vulture Funds Ripping Off Puerto Rico~
~~Published on Oct 22, 2015~~
Sen. Bernie Sanders said today Puerto Rico should be allowed to restructure its debt in a way that protects residents, ordinary investors and pension funds in the United States.
We ALL are ONE!!
He is a smart man.