Puerto Rico is in the midst of a $70 billion debt crisis that has resulted in four Congressional hearings this year. Still, it appears that the United States is reluctant to help its cash-strapped commonwealth. […]
Tag: Puerto Rico
Puerto Rico Is About To Run Out Of Money And Nobody Knows What To Do
In the very near future, Puerto Rico is expected to run out of money. The island is facing a $13 billion shortfall over the next several years. Making matters worse, reports indicate that the Puerto […]
Puerto Rico Entering Financial Death Spiral
While the world’s attention has been focused on Greece’s financial crisis, Puerto Rico’s is entering what its Governor has called a financial “death spiral”. The news comes almost exactly around the time we predicted back […]
Puerto Rico Warns Of Government Shutdown Due To Liquidity Crisis
Two months ago Puerto Rico’s third largest bank, Doral, failed. The event cost U.S. taxpayers $750 million in the process. Doral Bank wasn’t alone in having a Non Performing Loan ratio bordering on 40% – […]