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Puerto Rico's default is fine, as long as Wall Street is repaid
Roos, Jerome
http://zcomm.org/znetarticle/puerto-ricos-default-is-fine-as-long-as-wall-street-is-repaid/Date Written: 2015-08-15 Publisher: ZNet Year Published: 2015 Resource Type: Article Cx Number: CX17809 On August 1, 2015, Puerto Rico defaulted on part of its enormous $72 billion debt, paying back only $628,000 on a relatively small $58 million loan that was due at the start of the month. The default, which marks the most serious credit event in US public bond markets since the city of Detroit filed for bankruptcy in 2013, has led many to draw obvious comparisons to Greece – and understandably so. Subject Headings |