http://www.reuters.com/article/puertori ... SL1N1I50ZK
Title III ( a new law written with PR in mind) doesn't use the word "bankruptcy" since it is intended only for US Territories and possessions. But for all practical purposes it's the same thing. This is going to be the biggest by far municipal bond default in US history.
Puerto Rico Seeks Title III Bankruptcy Protection
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Ad Orientem
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Ad Orientem
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Re: Puerto Rico Seeks Title III Bankruptcy Protection
Local government officials are even dumber and more corrupt than Federal. This does not surprise me.
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Libertarian666
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Re: Puerto Rico Seeks Title III Bankruptcy Protection
No one could have predicted this!
If you don't count anyone who knew anything about how bad PR's finances were, anyway...
If you don't count anyone who knew anything about how bad PR's finances were, anyway...
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dualstow
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Re: Puerto Rico Seeks Title III Bankruptcy Protection
I own a lot of Vanguard's muni bond funds. VP of course. I guess I'll be taking a hit, but not much.
No money in our jackets and our jeans are torn/
your hands are cold but your lips are warm _ . /
your hands are cold but your lips are warm _ . /
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Libertarian666
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Re: Puerto Rico Seeks Title III Bankruptcy Protection
So this time there is just one cockroach?dualstow wrote:I own a lot of Vanguard's muni bond funds. VP of course. I guess I'll be taking a hit, but not much.
