So tax payers should pay for the bad decisions of municipal bond holders?
No, either Puerto Ricans should pay or the bond holders take their medicine. Simple.
So municipal bond holders should pay for the bad decisions of government? - but there won’t be that many bond holders, municipal or otherwise, once it gets into people’s heads that Trump’s way of handling things once government spending gets out of hand is to stiff those who made loans to the government in good faith - until of course the low interest rates he claims to want climb for the taxpayer to cover as the government’s credit rating falls and it has to pay more and more to convince people to lend to it.....