Puerto Rico threatened by vulture funds


This 6 February 2019 video says about itself:

A federal judge has approved a plan for Puerto Rico to restructure a portion of its debt which would require Puerto Rico to pay $32 billion over 40 years. Critics say the deal will allow vulture funds to make huge profits by buying up those debts.

Several of those vulture funds include public employee pension funds and the investment funds of Harvard, Princeton and Yale.

Judge Laura Taylor Swain, who held a hearing on the proposed deal last month, echoed critics’ concerns about Puerto Rico’s ability to make the payments and the likely effects on public services. However, she said in her decision, “[T]he Court is not free to impose its own view of what the optimal resolution of the dispute could have been.”

Hurricane Maria hit the island of Puerto Rico on 20 September 2017 and triggered more than 40,000 landslides in at least three-fourths of Puerto Rico’s 78 municipalities. In a new article from GSA Today, authors Erin Bessette-Kirton and colleagues write that “the number of landslides that occurred during this event was two orders of magnitude greater than those reported from previous hurricanes”: here.

FEMA CHIEF TO STEP DOWN Brock Long, the administrator of the Federal Emergency Management Agency, will step down. Long, who has come under intense scrutiny for his response to Hurricane Maria in Puerto Rico and personal use of government funds, said he was leaving to focus on his family. [HuffPost]

14 thoughts on “Puerto Rico threatened by vulture funds

  1. Pingback: Puerto Rico video by Bernie Sanders | Dear Kitty. Some blog

  2. Pingback: Elon Musk’s broken Puerto Rico solar energy promises | Dear Kitty. Some blog

  3. Pingback: Puerto Rican mass protests against governor | Dear Kitty. Some blog

  4. Pingback: Puerto Ricans drive away corrupt governor | Dear Kitty. Some blog

  5. Pingback: Puerto Rico governor gone, austerity should follow | Dear Kitty. Some blog

  6. Pingback: Puerto Rican mass rebellion | Dear Kitty. Some blog

  7. Pingback: Puerto Rico government crisis news update | Dear Kitty. Some blog

  8. Pingback: Puerto Rico, new governor, new mass protests | Dear Kitty. Some blog

  9. Pingback: New Puerto Rican governor and poisoned groundwater | Dear Kitty. Some blog

  10. Pingback: New Puerto Rican governor, Wall Street’s governor | Dear Kitty. Some blog

  11. Pingback: Third corrupt Puerto Rican governor within a week | Dear Kitty. Some blog

  12. Pingback: Puerto Ricans without electricty, water after earthquake | Dear Kitty. Some blog

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.