The borrower is the servant of the lender, and one of the primary ways that the elite keep the rest of us subjugated is through the $244,000,000,000,000 mountain of global debt that has been accumulated. Every single day, the benefits of our labor are going to enrich somebody else. A portion of the taxes that […]
Tag: debt crisis
After a long debate over whether or not remedy the debt crisis in Puerto Rico with bankruptcy, the pro-reform side appeared to have won. While the Obama White House has pushed strongly for bankruptcy, Congressional leaders instead pushed as equally strong for key reforms in the government and economic sectors in the Commonwealth. The result […]
PROMESA provides for reforms for Puerto Rico Debt Crisis[/caption] The U.S. territory of Puerto Rico finds itself facing more than $118 billion in debt from bonds and unfunded pension liabilities. The government has been unable to manage this debt and has already begun defaulting on its repayment. As a result, Congress has debated how it […]
Puerto Rico bailout will benefit Obama administration cronies[/caption] If the bailout and super Chapter 9 bankruptcy plan for Puerto Rico that the Obama administration supports prevails, rather than the House bill, several Obama cronies will benefit financially. They could stand to make more than $100 million if the bailout/bankruptcy plan is implemented. MillCo Advisors, headed […]