And he is correct again. Bailing out Puerto Rico would set a precedent to bailout states and other local municipalities.
See post 22 Don’t forget the name CESAR CONDA...he’s at the bottom of all things anti Trump and pushing bail out for PR along with PAUL RYAN and National Review.
http://www.freerepublic.com/focus/news/3429031/posts?page=22#22
You are correct. They can easily hire some good receivership attorneys, get DIP financing and restructure their existing debt. They need our permission to do the aforementioned - I say give it to them with a pat on the rear. They will be fine without our pouring more good money after bad.
A bail-out is unnecessary and politically impossible. A restructuring doesn’t cost taxpayers a nickel.
Exactly. And we should never bail out states or locals.