~~June 11, 2016~~
IT’S PUERTO RICO’S TURN NOW
plural noun: hedge funds
a limited partnership of investors that uses high risk methods, such as investing with borrowed money, in hopes of realizing large capital gains.
This is a huge crisis in Puerto Rico now.
The Island is financially broke.
The help it’s receiving from the “master” isn’t really helping.
It’s just setting the stage for continued pillage.
This may sound good but it really isn’t.
~House approves Puerto Rico debt-relief legislation~
The House on Thursday passed a bill that would create a financial control board to help Puerto Rico handle its finances, and let the island restructure some of its $70 billion in debt. The bipartisan 297-127 vote marked a victory for House Speaker Paul Ryan, who had urged conservative fellow Republicans to help pass the bill to keep the crisis from deepening.
Puerto Rico is due to make a $2 billion debt payment in three weeks.
“The Puerto Rican people are our fellow Americans,” Ryan said. “They pay our taxes, they fight in our wars. We cannot allow this to happen.”
This “JUNTA’S” real purpose is to make sure that the debtors are paid.
No real interest in the benefits of progress of Puerto Rico and it’s people.
Don’t be fooled!!
How Hedge Funds Deepen Puerto Rico’s Debt Crisis
Vulture investors have descended on the commonwealth, taking advantage of a debt crisis that has impoverished citizens and created massive unemployment.
By: David Dayen
In many ways, the Puerto Rico situation is sui generis, resulting from a patchwork of laws and obligations on an entity that is not really a country and not really a U.S. state. But looked at another way, Puerto Rico is just the latest battlefield for a phalanx of hedge funds called “vultures,” which pick at the withered sinews of troubled governments.
In Greece, Argentina, Detroit, and now Puerto Rico, vultures have bought distressed debt on the cheap, and then used coercion, threats, and legal action to secure a massive windfall, compounding the effects on millions of citizens.
The legal wrangling masks an irony: As creditors demand that Puerto Rico pay back everything it owes, hedge fund managers have used the island as a tax haven to avoid their own responsibilities. Wealthy investors don’t just want to make money in Puerto Rico; they want to use their leverage to effectively buy an island playground.
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The entire US government gangs up on Puerto Rico … all in the same week
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~Hedge Funds Bringing Poverty And Suffering To Places Like Puerto Rico~
~Published on Jun 10, 2016~
They’re called “vulture funds” and they make a killing off of places like Puerto Rico — sometimes literally.
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