Puerto Rico Says Will Default Tomorrow, Begs Congress For Help "Or Else Crisis Will Get Worse"

Zerohedge ^ | 5-1-2016 | Durden

[tcrlaf]

Update: PR Governor Padilla has spoken...

-PUERTO RICO GOVERNOR SAYS WON'T PAY DEBT TOMORROW -PUERTO RICO GOVERNOR SAYS ISLAND WON'T PAY DEBT MONDAY -PUERTO RICO GOVERNOR: GOVERNMENT SIGNED MORATORIUM BILL YESTERDAY -PUERTO RICO NEEDS DEAL W/ CREDITORS AND/OR CONGRESS: GARCIA

And of course, demands a bailout... -PUERTO RICO GOVERNOR CALLS ON U.S. CONGRESS, PAUL RYAN FOR HELP

And then threatens...

-CRISIS WILL GET WORSE IF U.S. CONGRESS DOESN'T HELP: GARCIA -PUERTO RICO GOVERNOR CONCLUDES REMARKS TO COMMONWEALTH

A default on the $422 million due today is "virtually certain," S&P Global Ratings said April 11.

[tcrlaf]

This is the LEAST covered sory in America, and it is because it makes Democrats look horrible, and plays directly into Trump's rhetoric.

Get ready to take it up the chute, folks. Is Puerto Rico is "Too Big to Fail".

HOPEY-CHANGEY, and all that crap...

[Paladin2]

Send the PR peeps to Europe as refugees.

[tennmountainman]

If Trump were not in the race and more importantly, winning
this Bailout would have already been passed.

[caver]

Message to Puerto Rico..... Go to hell.....

[MtnClimber]

Execute their government employees or this will happen next in California or Chicago.

[tcrlaf]

Not sure how this can happen.
The new 11% tax on EVERYTHING was supposed to save the.

OOPS...

[CMailBag]

And then Illinois will be “Too Big To Fail”

[Popman]

Puerto Rico will work a deal out a painful deal with their creditors...

Congress knows if we (taxpayer) bail them out, there is a LONG list of states that will demand the same treatment..

Congress already is in a heap of trouble with americans...

Thankfully, we control the House and Senate...even though most GOPe are craven, gutless, spineless worms...

They at least aren't stupid like the democrats in doubly down on dumb by capitulating to PR demands...

[struggle]

CUT GOVERNMENT

[MUDDOG]

Live by the debt, die by the debt.

[E. Pluribus Unum]

All because of a little thing called "the minimum wage."

Puerto Rico’s crisis illustrates the risks of minimum wage hikes

[Jonty30]

This is setting the stage for giving all states a bailout and further entrenching federal power over all the states.

[Cen-Tejas]

ditto

[Chode]

bailout???

[jafojeffsurf]

NO (loan or Bailouts)!!! TIME For All Debits to be paid, For it is TOTALLY Impossible... The Collapse only Grows Worst as we Ignore Reality!

The Enemy is within and until we deal with that Enemy we will Never be able to Deal with the Enemy’s outside the Nation.

[SunLakesJeff]

Bacardi?

[ptsal]

Maybe Cuba will bail out their Latin cousins.....

[relictele]

Congrats PR...you just earned your independence.

Good luck with the currency and national credit thing.

[ameribbean expat]

Too late...they’re all in eastern Polk County Florida. And just watch what happens to Florida’s Congressional delegation with the new state supreme court drawn districts...

[chasio649]

Message to Puerto Rico..... Go to hell.....

---

Couldn’t agree more....Hated that place when i was in the Navy....They wanted Rosey Roads closed...eff’em.