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Mayor de Blasio: Feds must rescue Puerto Rico
CBS News ^ | 7/28/2015 | Robert Hennelly

Posted on 07/30/2015 12:50:08 PM PDT by RightGeek

Just days before Puerto Rico is expected to default on billions of dollars in debt, New York City Mayor Bill de Blasio demanded President Obama and Congress immediately come to the island's fiscal rescue.

"It's the federal government's obligation to act, because they can't stand idly by and watch Puerto Rico fail," de Blasio told a crowd of hundreds of Puerto Rico boosters gathered on the steps of City Hall.

New York City Council Speaker Melissa Mark-Viverito characterized the hedge funds that hold much of the commonwealth's outstanding debt as "vultures that are eating off the misery of Puerto Rico" because the funds want cuts in Puerto Rico's spending, including for public education.

[Snip - click thru for the full 5 point plan. but my favorite was the following:]

Requesting that President Obama convene his Working Group on Financial Markets to bring all of Puerto Rico's public debt stakeholders together to negotiate a "fair" debt repayment plan as well as explore a loan from the Federal Reserve.

[Snip]

(Excerpt) Read more at cbsnews.com ...


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To: RightGeek

When she says ‘vultures’ does she mean Democrats?


41 posted on 08/01/2015 6:01:09 AM PDT by 1010RD (First, Do No Harm)
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To: b4its2late

Make PR a borough.


42 posted on 08/01/2015 6:01:27 AM PDT by 1010RD (First, Do No Harm)
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