I don’t want a bailout for a dependency at the expense of citizen taxpayers, especially after they were spending like drunken sailors for years because of tax breaks we gave their bonds.
They are for all intents bankrupt...and facing massive infrastructure rebuilding. I would not be counting on getting paid if I owed them money. Trump is only saying what is reality.
And people can complain all they like about how an entity got into trouble but that does not change the situation. Controls are usually put in place to make sure it does not happen again.
That is my take anyhow. Just picked your post to reply because you seem like a really nice FReeper. All the Best to you.
"They owe a lot of money to your friends on Wall Street and we're going to have to wipe that out. You're going to say goodbye to that, I don't know if it's Goldman Sachs but whoever it is you can wave goodbye to that,"
He's not talking about giving them a federal bailout. He's talking about bankruptcy. Debt repudiated. All the people holding PR bonds taking a bath.
If this happens, the ability of Dem-controlled regions being able to borrow will be crippled, and they will have to adjust their spending to come in line with actual revenues.