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Money from misery: How shadowy bond investors perpetuate Puerto Rican poverty

By Adrian Scoffham

More than 70% of US Municipal Bond holders are exposed to Puerto Rican debt, in excess of $1 billion. Operating in an environment with no oversight or regulation, this powerful group of private investors do not want any default on their bonds and expect a return of 100% or more. There is a dawning realisation within the White House that Puerto Rico cannot simply be abandoned like a failed Casino. Yet again, we see the way in which pure unregulated capitalism is creating unmitigated misery.

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Money from misery: How shadowy bond investors perpetuate Puerto Rican poverty