Puerto Rico threatened by vulture funds

Dear Kitty. Some blog

This 6 February 2019 video says about itself:

A federal judge has approved a plan for Puerto Rico to restructure a portion of its debt which would require Puerto Rico to pay $32 billion over 40 years. Critics say the deal will allow vulture funds to make huge profits by buying up those debts.

Several of those vulture funds include public employee pension funds and the investment funds of Harvard, Princeton and Yale.

Judge Laura Taylor Swain, who held a hearing on the proposed deal last month, echoed critics’ concerns about Puerto Rico’s ability to make the payments and the likely effects on public services. However, she said in her decision, “[T]he Court is not free to impose its own view of what the optimal resolution of the dispute could have been.”

View original post

About sdbast

Twitter profile @sdbast
This entry was posted in Politics. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.