Similar Stories to The Puerto Rico Bill Is Good For The Bondholders on Bing News

After failing to make a scheduled bond payment on May 2, Puerto Rico is rapidly heading toward a broader default. On July 1, a $2 billion bond payment comes due, and the island will not be able to pay.Last Wednesday, congressional leaders unveiled a new bill, crafted with help from the Obama administration, that would create an orderly process for restructuring the territory’s debts and measures to ensure financial discipline going forward — including the creation of a control board to oversee its public finances.As the crisis has deepened, a group of Puerto Rico’s creditors, made up mainly of hedge fund managers who bought Puerto Rico’s debt at deep discounts, has been spending millions of dollars to thwart this initiative, including running TV ads that falsely claim this approach is a “bailout.”This plays into the way the Puerto Rican debt crisis has been framed all along: as a battle between creditors and the government, with the creditors calling for “fairness” and making sure the island meets as much of its bond obligations as possible.But if you’re really worried about creditors, there’s a good reason to pass the bill currently before Congress.

BING NEWS:
  • Playbook: Will MTG put up or shut up?
    VACATION, ALL SHE EVER WANTED — It’s been 38 days since Rep. MARJORIE TAYLOR GREENE (R-Ga.) filed her motion to strip Speaker MIKE JOHNSON of his gavel, a move meant to warn him against getting too ...
    04/28/2024 - 11:19 pm | View Link
  • Dodgers head to Arizona – but not with revenge on their minds
    The Dodgers start a series in Phoenix on Monday, returning to the scene of their 2023 NLDS exit against the Diamondbacks, but there is no extra meaning to the series – “None whatsoever,” Dave ...
    04/28/2024 - 6:06 pm | View Link
  • Biden wins Puerto Rico Democratic primary
    President Biden has won the Puerto Rico Democratic presidential primary, according to Decision Desk HQ (DDHQ). Biden already became the presumptive Democratic nominee last month after attaining enough ...
    04/28/2024 - 8:59 am | View Link
  • Tax Breaks: New Laws And Budget Proposals—Including One That's Out Of This World
    More than 25 states—and the territory of Puerto Rico—have something called filial support laws on the books. While they can vary widely, the idea is the same: a spouse, child, or parent may be ...
    04/27/2024 - 3:00 am | View Link
  • Bernie Williams back in center, now at Lincoln Center
    After spending 16 years gaining fame while roaming the grass where Joe DiMaggio and Mickey Mantle once trod, Bernie Williams was on the stage made famous by Leonard Bernstein and where guitar great ...
    04/25/2024 - 10:14 am | View Link
  • More

 

Welcome to Wopular!

Welcome to Wopular

Wopular is an online newspaper rack, giving you a summary view of the top headlines from the top news sites.

Senh Duong (Founder)
Wopular, MWB, RottenTomatoes

Subscribe to Wopular's RSS Fan Wopular on Facebook Follow Wopular on Twitter Follow Wopular on Google Plus

MoviesWithButter : Our Sister Site

More Politics News