Free Republic
Browse · Search
Bloggers & Personal
Topics · Post Article

Skip to comments.

Trump says Puerto Rico's debt will have to be wiped out
CNBC ^ | October 3, 2017 | Leslie Shaffer, Christina Wilke, John W. Schoen and Reuters

Posted on 10/03/2017 7:30:31 PM PDT by 2ndDivisionVet

click here to read article


Navigation: use the links below to view more comments.
first previous 1-2021-4041-6061-80 ... 101-107 next last
To: Menehune56

Independence will empty Rykers island. I say go for it.


41 posted on 10/03/2017 7:53:46 PM PDT by DIRTYSECRET (urope. Why do they put up with this.)
[ Post Reply | Private Reply | To 33 | View Replies]

To: 2ndDivisionVet
Opening salvo to get them to renegotiate the debt to more favorable terms. Probably will be a write-off involved but I doubt it will be 100%.

If it DID end up writing off at 100%, what an incredible growth opportunity PR would be. The ability to borrow and put all of that into upgrades and infrastructure.

42 posted on 10/03/2017 7:53:54 PM PDT by cincinnati65
[ Post Reply | Private Reply | To 1 | View Replies]

To: dfwgator

“Next time the companies should be smarter as to who they loan their money to.”

Yeah, paying them with taxpayer money will teach them not to involve in bad investments. Please pass me what’s being smoked.

What will teach them is to hang they high and dry. Next time, they will re-think about loan money to deadbeats.


43 posted on 10/03/2017 7:54:05 PM PDT by sagar
[ Post Reply | Private Reply | To 24 | View Replies]

To: BenLurkin

If, then Trump needs all PR pay something and have a rigid no over spending budget and stupid democrats can’t run things.

Only frugal spenders.


44 posted on 10/03/2017 7:54:40 PM PDT by ADSUM
[ Post Reply | Private Reply | To 2 | View Replies]

To: 2ndDivisionVet

It won’t be wiped out.
All of us now get to pay it.


45 posted on 10/03/2017 7:56:14 PM PDT by HereInTheHeartland (I don't want better government; I want much less of it.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: 2ndDivisionVet

A really bad idea to let spending addicts off the hook. In a year they will be in the same place if they don’t face their irresponsible addiction and recover.


46 posted on 10/03/2017 7:56:46 PM PDT by MtnClimber (For photos of Colorado scenery and wildlife, click on my screen name for my FR home page.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: 2ndDivisionVet

Dammit! He better not bail them out!!!


47 posted on 10/03/2017 7:57:54 PM PDT by RushIsMyTeddyBear (Screw The NFL!!!!!! My family fought for the flag!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: sipow

sipow wrote:

“*** that. Why should they get their debt wiped out? Can I get my mortgage wiped out? How about student loans and car loans.

This is complete bull****.”

Good analogy; good question- why —should— we bail em out?


48 posted on 10/03/2017 7:59:01 PM PDT by WildHighlander57 ((WildHighlander57, returning after lurking since 2000)
[ Post Reply | Private Reply | To 14 | View Replies]

To: 2ndDivisionVet

When you owe the bank $100,000, you have a problem.

When you owe the bank $100 million, the bank has a problem.


49 posted on 10/03/2017 7:59:08 PM PDT by july4thfreedomfoundation ("You can't fix America without pissing off the people who broke it".....Bill Mitchell)
[ Post Reply | Private Reply | To 1 | View Replies]

To: sipow

What is wrong with you?! We don’t use filthy language around here.


50 posted on 10/03/2017 7:59:57 PM PDT by Bigg Red (Vacate the chair! Ryan must go.)
[ Post Reply | Private Reply | To 14 | View Replies]

To: dfwgator

“If done right, PR can be the jewel of the Caribbean, there’s no excuse for them not to be.”

Does the population have the smarts to be successful?

They are Democrats you know.


51 posted on 10/03/2017 8:02:36 PM PDT by jeffersondem
[ Post Reply | Private Reply | To 32 | View Replies]

To: sipow

My take on it is that PR has been, in effect, bankrupt for some time now. The bond holders typically take a haircut, in those circumstances. I would be astonished if a big risk premium weren’t factored into PR bonds. (Unless they were being underwritten by the U.S. government.) If so, the banks took calculated risks, when they bought PR bonds. This time, the coin landed on the wrong side for the banks.

It’s best to get that all sorted out now (right now); before boatloads of US taxpayer dollars are shipped to the island.

It appears that Trump is tidying things up — and likely making it harder for the big banks to divert disaster-relief funds into their vaults.


52 posted on 10/03/2017 8:02:49 PM PDT by USFRIENDINVICTORIA
[ Post Reply | Private Reply | To 14 | View Replies]

To: All

The “bankruptcy” already started back in May:

https://www.usatoday.com/story/money/2017/05/03/puerto-rico-bankruptcy/101243686/


53 posted on 10/03/2017 8:03:02 PM PDT by Drago
[ Post Reply | Private Reply | To 1 | View Replies]

To: 2ndDivisionVet
President Donald Trump said that Puerto Rico's debt will have to wiped out.

No need to do that.

Just restructure the debt to have them pay it down, $1 million dollar per year, until it's paid off. The additional accumulated debt from the years of interest(millenia?) can also be restructured for payments after the initial debt is paid off.

See? Debt not forgiven or written off. ;)
54 posted on 10/03/2017 8:05:43 PM PDT by adorno (w)
[ Post Reply | Private Reply | To 1 | View Replies]

To: july4thfreedomfoundation

Too true. :)


55 posted on 10/03/2017 8:05:56 PM PDT by Duchess47 ("One day I will leave this world and dream myself to Reality" Crazy Horse)
[ Post Reply | Private Reply | To 49 | View Replies]

To: Ultra Sonic 007
As for the lenders? They will have to eat the debt. And they will absolutely deserve it, because they apparently didn’t care about PR’s ability (or willingness!) to repay.

Exactly right. But if they're smart, the debt-holders will work out deal -- restructure the debt on more favorable terms for PR. Creditors take a big haircut, but not a total loss.

In return, PR would accept a severe austerity program, with massive cuts in government spending and a complete overhaul of the PR pension system, to include massive cuts in pension payouts -- even to current government pensioners (they won't starve; those public-sector pensions are generous).

56 posted on 10/03/2017 8:08:49 PM PDT by kevao (Biblical Jesus: Give your money to the poor. Socialist Jesus: Give your neighbor's money to the poor)
[ Post Reply | Private Reply | To 39 | View Replies]

To: jeffersondem
Does the population have the smarts to be successful?

They are Democrats you know.


Believe it or not, there is a huge number of republicans who used to be democrats. Did they get smart only after becoming republicans?

I used to be one of those democrats, and, to top it all off, I was born in Puerto Rico.

BTW, I haven't been a democrat for a few decades now, so, I must be one of the smart ones, right?

And, if I remember a study done a few years ago, Puerto Ricans are the "perfect humans". Look up that study.

Right about now, I feel superior to you. ;)
57 posted on 10/03/2017 8:11:57 PM PDT by adorno (w)
[ Post Reply | Private Reply | To 51 | View Replies]

To: 2ndDivisionVet

they’ll never pay it back anyway so wiping the debt shouldn’t make much difference: anyone lending them money thereafter won’t get their money back either.


58 posted on 10/03/2017 8:13:21 PM PDT by catnipman ( Cat Nipman: Vote Republican in 2012 and only be called racist one more time!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: 2ndDivisionVet

Thirty-four people out of 3.5 MILLION died due to this hurricane?

I got nothin’...


59 posted on 10/03/2017 8:14:21 PM PDT by Diana in Wisconsin (I don't have 'Hobbies.' I'm developing a robust Post-Apocalyptic skill set!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: sagar

“Trump has bragged about using bankruptcy MULTIPLE TIMES to have clean slate. “

That’s a LIE.


60 posted on 10/03/2017 8:14:46 PM PDT by dynoman (Objectivity is the essence of intelligence. - Marilyn vos Savant)
[ Post Reply | Private Reply | To 17 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-2021-4041-6061-80 ... 101-107 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
Bloggers & Personal
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson