Puerto Rico Avoids Bankruptcy

FYI News 2017-08-12

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Puerto Rico is looking for a better economic solution. Their plan is to become the 51st state of the United States of America.

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And not just federally tax-exempt bonds: Congress went on at length to bar anyone from taxing Puerto Rico’s bonds, presumably never dreaming how this would play out a century later — which, on Wednesday, led to the territory declaring a form of bankruptcy

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