Puerto Rico’s Governor Says Island’s Debts Are ‘Not Payable’

[Valmy]

Yeah I think Spicey was one of those 'let them all the weak banks fall apart and the strong shall RISE!' types during that crisis.

[CountDeMoney]

The banks had plenty of strings attached actually. Maybe not the right strings...

No shit, right?

"These are not the TARP bonus restrictions you are looking for."
"These are not the TARP bonus restrictions we're looking for."

[derspiess]

Yeah I think Spicey was one of those 'let them all the weak banks fall apart and the strong shall RISE!' types during that crisis.

I was going through my Maya Angelou phase.  AND SO I RISE!!!!!!!!

[CountDeMoney]

Yeah I think Spicey was one of those 'let them all the weak banks fall apart and the strong shall RISE!' types during that crisis.

Ah, yes.  The "Too Big to Fail" approach.  Wonder how that turned out.

[lustindarkness]

PROMESA

They always come up with such "clever" acronyms. 

[Valmy]

PROMESA

They always come up with such "clever" acronyms. 

I thought it was a nice touch to make it a Spanish word. It means they love Puerto Rico.

[celedhring]

I wonder how many lawmaker man-hours are employed with coming up with these acronyms. I guess we may know the real reason for the hold-up, now.

[Valmy]

I wonder how many lawmaker man-hours are employed with coming up with these acronyms. I guess we may know the real reason for the hold-up, now.

Well they don't spend much time passing or debating legislation these days. So I guess between fund raising sessions they have to do something with their time.

[CountDeMoney]

While more condescending than racist, it's certainly a better choice than, say, the Spanish Peoples' Island Credit Act of 2016.

[derspiess]

[OttoVonBismarck]

Puerto Rico isn't a state, Congress stepping in to bail them out is akin to a State stepping in to bail out a municipality, and when they do so it's standard to have either some sort of fiscal oversight board put in place, or some sort of emergency manager put in place.

Puerto Rico has chosen a status of diminished sovereignty--they could have either statehood or independence if they wanted, they don't.

[Admiral Yi]

So "give us free money with no strings attached" is the demand I guess?

You didn't have a problem when the banks did it.

That money wasn't free.  It was pretty pricey.

[garbon]

Puerto Rico isn't a state, Congress stepping in to bail them out is akin to a State stepping in to bail out a municipality, and when they do so it's standard to have either some sort of fiscal oversight board put in place, or some sort of emergency manager put in place.

Puerto Rico has chosen a status of diminished sovereignty--they could have either statehood or independence if they wanted, they don't.

Congress could have chosen to use the result of their last referendum to make it a state, but they did not.

[PJL]

S

Puerto Rico isn't a state, Congress stepping in to bail them out is akin to a State stepping in to bail out a municipality, and when they do so it's standard to have either some sort of fiscal oversight board put in place, or some sort of emergency manager put in place.

Puerto Rico has chosen a status of diminished sovereignty--they could have either statehood or independence if they wanted, they don't.

Congress could have chosen to use the result of their last referendum to make it a state, but they did not.

And Americans are hypocritical for telling Brits that they can't ignore referendums.

[Admiral Yi]

No we're not.