All Those 'No Aid To Puerto Rico' Ads Are From Hedge Funds

[annabanana]

http://crooksandliars.com/2016/04/all-those-puerto-rico-bankruptcy-ads-are

This report details how, in order to pay back its creditors, the Puerto Rican government has implemented a severe austerity budget that is is creating a humanitarian crisis on the island and threatening Puerto Ricans’ access to basic services including healthcare, education, and even electricity.

Meanwhile, the hedge funds that reportedly own nearly 50% of Puerto Rico’s debt continue using vulture tactics to win as big a payday as possible at the expense of Puerto Ricans.

Some of Puerto Rico's biggest creditors reportedly have been lobbying Congress to ensure that Puerto Rico pays their debts. Which sounds like an innocuous sentence until you add, "...instead of taking care of poor and elderly people."

....The House is considering legislation that would block Puerto Rico from using bankruptcy-style protection to renegotiate its debt payments, an otherwise common practice in bankruptcy law that's known as "winning" when Donald Trump does it.

I was WONDERING WTF that was all about! I am not surprised to find out it's the greedy being greedier.. no sirree

[HassleCat]

1. They don't want PR to miss all the fun.

After all, we did it to ourselves, and Puerto Rico is part of "ourselves."

[malaise]

4. On the contrary they intend to have all the fun

as they lool everything valuable on the island

[MgtPA]

2. I wondered where they were coming from too, especially that tag line at the end:

"If Puerto Rico is bailed out, then Illinois will be getting a bailout too..." WTF??

[abelenkpe]

3. Disgusting. Nt

[bullwinkle428]

5. I thought I smelled a rat when I first began seeing those commercials.

[hill2016]

6. this is a bid misleading

under federal bankruptcy law, Puerto Rico doesn't have access to bankruptcy protection. So the house isn't trying to block something that it can't do.

[LostOne4Ever]

7. Those ads always struck me as being incredibly selfish. Apparently I was right. nt

Last edited Sun Apr 17, 2016, 05:15 PM - Edit history (1)

[Little Tich]

8. Those poor hedge funds... n/t

[AngryAmish]

9. If we free Puerto Rico none of this will be a problem.