Lake Erie Conservative

thoughtful discussion(s) about issue(s)

… The Banks may Not Like It [#Puerto Rico][#debt][#bankruptcy][#default]…

Posted by paulfromwloh on Saturday,January 7th,2017

.. the banks are really going to hate this . But , it will teach them an important lesson about loans and U.S. governments , in particular the states . They will have to book their losses , and quit whining ..

.. Puerto Rico is going to have to be realistic . Their government is far too big . Their debt load is far too large for them to manage properly . also , their scope of their government and services is waaay too broad . Simple , the commonwealth cannot afford the current size of government . Things will have to change ..

.. [h/t — Newsmax.com/Finance]..
.. [link] to the news story ..

.. now , will our Congress create a Chapter 9 style bankruptcy system for the states . Some of them are eventually going to need it .. [read : Illinois] ..

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