This video from the USA says about itself:
5 August 2015
The White House rejects a bailout package for Puerto Rico days after the U.S. territory failed to pay a small portion of the massive $72 billion it owes to bondholders. It was the biggest municipal bond default in U.S. history. Unlike U.S. states and municipalities, Puerto Rico cannot declare bankruptcy. Juan González discusses how the roots of the crisis are deeply tied to Puerto Rico’s colonial status.
Hedge Funds Helped Wreck Puerto Rico’s Economy – Now the Poor Are Paying the Price: here.