[Paladin2]

Here is a chance for PRyno to man up and stop government over reach.

[Paulie]

Bend over, American taxpayers.

[crz]

Do like all bankrupt issue are handled. Sell off the assets-land and all.

[BigEdLB]

THOMAS, J., delivered the opinion of the Court, in which ROBERTS, C. J., and KENNEDY, BREYER, and KAGAN, JJ., joined.
SOTOMAYOR, J., filed a dissenting opinion, in which GINSBURG, J., joined.
ALITO, J., took no part in the consideration or decision of these cases.

Interesting.

[Pearls Before Swine]

My take is that Congress (a voting majority) would love to bail out Puerto Rico, out of compassion, and some misplaced hope that it would give their party an edge with the Hispanic vote. That is of course, ridiculous, since most of our Hispanics are Mexican and don’t care about PR.

The real reason Congress “wants to help” is to set precedent for all of the state and local pension plans that are underwater, so they can put various SEIU and other union drones exorbitant pensions on the working taxpayers’ tab. Think Chicago, the state of Illinois, Detroit, etc.

[Raycpa]

the Constitution does not allow them to rewrite a statute that Congress enacted in 1984.

Since when?

[pierrem15]

The Puerto Rican people are our fellow Americans. They pay our taxes. They fight in our wars," Ryan said. "We cannot allow this to happen."

Umm, no, they don't pay our taxes Speaker Ryan. You're an idiot.

[M Kehoe]

Everybody takes a haircut. Now, lets have a fiesta!

Sell the island to the highest bidder.

Spain?

5.56mm

[dfwgator]

BOHICA!

[RFEngineer]

“closing off one of the island’s last remaining options for avoiding default”

Well they could always pay the debt. That is always a good way to avoid default.

This is the best outcome for PR for the moment. They don’t pay anything more on the bonds - bondholders get nothing. and PR gets to keep the revenue that used to support the payments on the bonds.

Eventually this will make it to court. The court can decide whatever it wants to, but once PR spends the money that was supposed to go to bondholders it’s gone and is never coming back.

So bondholders will try to negotiate, outside of Chap 9.

PR will laugh and spend their new windfall until the court cuts them off.

[eyeamok]

Just Default and tell them to go pound sand. Pass Legislation declaring ALL COntracts and Agreements Null and Void at the end of the Legislation Session that authorized it.

No Legislative body shall be bound by the acts of a previous legislative body.