Skip to main content

Puerto Rico files for bankruptcy

Puerto Rico teetered into insolvency Wednesday as the chronically troubled U.S. territory of 3.4 million citizens buckled under its ever-increasing debt, which stands at $73 billion.

The process that Puerto Rico has undertaken is a prelude to bankruptcy, but in this case it is tailored for governments. Given the size of the debt, it would be the largest such insolvency in...read more.

Comments

Popular posts from this blog

Trump Moves to Gut the Post Office

Some may be inclined to think that Donald Trump’s executive order Thursday night establishing a task force to recommend reforms for the U.S. Postal Service reflects another salvo in the president’s war against Amazon. Trump’s attack on Amazon, a clear byproduct of Amazon CEO Jeff Bezos’s ownership of...read more.