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re: Why does it seem like Puerto Rico is the only U.S. Territory ever talked about
Posted on 8/14/19 at 7:36 am to Powerman
Posted on 8/14/19 at 7:36 am to Powerman
quote:
Why does it seem like Puerto Rico is the only U.S. Territory ever talked about
Because we have a lot of influential people in NYC and DC that own billions in Puerto Rican bonds and want to make sure they get paid their high interest rates on these poorly rated bonds. Assistance from the U.S. tax payer via federal funds by any means necessary is needed. Bail out, natural disaster funding, etc. or other means works fine because cash is fungible.
This is why Paul Ryan and Mitt Romney were in favor of the original Puerto Rician bond bailout. Romney's buddies at Bain Capital owed a shite ton of Puerto Rican bonds and they wanted to ensure that Puerto Rico was able to pay. Yields on these bonds were as high as 11% a few years ago. Now they are around 6%.
Another reason for Puerto Rican attention from our politicians is to flood Florida with Democrat voters.
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