Mayor de Blasio: Feds must rescue Puerto Rico

CBS News ^ | 7/28/2015 | Robert Hennelly

[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]

[RightGeek]

Lots of LOL

[henkster]

Well Bill, why don't you rescue Puerto Rico? Use your own money first.

[Steely Tom]

Rescue it from what? The Puerto Ricans?

[b4its2late]

Have NYC save them.

[C210N]

What does Blasie want Ø to actually do? Send them one of his $Trillion dollar coins?

[lesko]

It’s the federal government’s obligation to act...?

SAY WHAT?

[denydenydeny]

The most shameless pandering I’ve seen in a while.

[riverdawg]

“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’”

Vultures only eat things that are already dead. Hedge funds that hold PR debt are the victims, not the culprits, of PR’s mismanagement.

[BenLurkin]

bttt

[VanShuyten]

He must have figured out his bond funds would be hurt by a PR default, and he wants ME to cover his losses.

[ProtectOurFreedom]

He’s trying to provide cover for all his hedge fund buds in NYC.

[SaveFerris]

You know, I never knew there was a suppressed Seinfeld episode until a couple of years ago. Guess that explains why we never see it on TV, much, while other episodes repeat multiple times in the same span.

I predicted they won’t let PR fall - they may be worried about a potential domino effect on the minds of investors?

Dunno.

But there are what? 2 days left?

I need a bailout, too. How about a few million dollars on 0% interest with no payments for 50 years?

[thesharkboy]

Jerkwads like de Blasio never say WHY when they demand a new bailout of some corporation, city, or, in this case territory. I'll give you the WHY: If we don't bail them out, some of his cronies (and/or himself) will take a haircut after the corporation/city/territory defaults. Then the corporation/city/territory will find that they can't run up their bills the way they could in the past, further hurting him or his cronies.

We're awake now to their schemes. Pretty simple really.

[Popman]

He “demanded” Obama and Congress...

LOL...who is he to demand anything?

[48th SPS Crusader]

“It’s the federal government’s obligation to act, because they can’t stand idly by and watch Puerto Rico fail,” de Blasio told

Exactly where do you see this directive in the US Constitution de Blasio? Why is every ones failure our responsibility?

[DoughtyOne]

Guy can’t even handle his own city, but he’s the “go to” guy on Puerto Rico?

[vpintheak]

Let him and NY do it! Sorry NY FReepers.

[Buckeye McFrog]

....cause I don’t want ‘em all coming here.

There, finished it for him.

[FredZarguna]

"It's like this every day in Puerto Rico!"

[dfwgator]

Puerto Rico, you lovely island
Island of tropical breezes
Always the pineapples growing
Always the coffee blossoms blowing

Puerto Rico, you ugly island
Island of tropic diseases
Always the hurricanes blowing
Always the population growing

And the money owing
And their babies crying
And the bullets flying
I like the island Manhattan
Smoke on your pipe and put that in

I like to be in America
Okay by me in America
Ev’rything free in America
For a small fee in America

I like the city of San Juan
I know a boat you can get on
Hundreds of flowers in full bloom
Hundreds of people in each room

Automobile in America
Chromium steel in America
Wired spoke wheel in America
Very big deal in America

I’ll drive a Buick through San Juan
If there’s a road you can drive on
I’ll give my cousins a free ride
How you get all of them inside?

Immigrant goes to America
Many hellos in America
Nobody knows in America
Puerto Rico’s in America

I’ll take a T.V. to San Juan
If there’s a current to turn on
I’ll give them new washing machine
What have they got there to keep clean?

I like the shores of America
Comfort is yours in America
Knobs on the doors in America
Wall to wall floors in America

When I will go back to San Juan
When you will shut up and get gone
Everyone there will give big cheer
Everyone there would have moved here