In the News/Activism forum, on a thread titled Rat Fink Ryan Pushes Passage of Puerto Rico (Bain Capital Bond Seller) “Rescue” Through House…, GilGil wrote:
This sets up the framework for every other state to get a bail-out. These establishment republicans are total pigs. Disgusting.
That is NOT what this bill does. THERE IS NO BAILOUT . This
bill forces PR to go into bankruptsy and forces them to not only to restructure their debt .But address conditions which caused it
(HENCE HEDGE FUNDS WHO BOUGHT THESE WORTHLESS BONDS ISSUED BY PR FIGURING US WOULD BAIL THEM OUT AT 100% PLUS GET A TAX WRITE OFF. NOW HAVE TO SETTLE THAT WORTHLESS INVESTMENT FOR PENNIES ON THE DOLLAR.
This bill was organized by Wisconsin Sean Duffy.
Puerto Rico now has to reorganize their system similar to what Detroit is doing. It surprisingly was supported by the entire Wisconsin congressional delegation which included some very socialists.
This bill was organized by Wisconsin Sean Duffy.
Puerto Rico now has to reorganize their system similar to what Detroit is doing. It surprisingly was supported by the entire Wisconsin congressional delegation which included some very socialists.
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OK. I got that. The point I was trying to make is that Bain Capital made sure they came first. That was all. Although bond holders should come first, in this case we see where the influence is.