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So remember that Puerto Rico is, because of weird loopholes in US law and terrible management, in crippling debt? And because of more loopholes, was going to have to pay creditors instead of basic services like hospitals unless Congress did something?
Congress actually did something: https://www.washingtonpost.com/news/powerpost/wp/2016/06/29/senate-poised-to-act-on-puerto-rico-debt-days-before-debt-cliff/
The problem is not fixed; PR still has huge amounts of debt to pay off. But at least now they can pay for basic services like schools and hospitals before paying off the hedge fund vultures.
Congress actually did something: https://www.washingtonpost.com/news/powerpost/wp/2016/06/29/senate-poised-to-act-on-puerto-rico-debt-days-before-debt-cliff/
The problem is not fixed; PR still has huge amounts of debt to pay off. But at least now they can pay for basic services like schools and hospitals before paying off the hedge fund vultures.
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Date: 2016-07-01 07:04 am (UTC)From: