Sentences with phrase «rican debt»

Seeds for both of these disasters were sown by Seth Klarman, the president of Baupost Group, a Boston - based hedge fund heavily invested in both Puerto Rican debt and in the oil and gas industry.

But a recent report by The Intercept has identified Seth Klarman — the principle holder of the Baupost Group as a major player in the Puerto Rican debt crisis.

Latino elected leaders joined liberal anti-charter school activists on the steps of City Hall to demand that Success Academy Charter Schools return an $ 8.5 million donation from hedge fund manager John Paulson because of his role in the Puerto Rican debt crisis — where the government is slashing education spending in a desperate effort to balance its books... [Click here to read more]

For years, a quirk of US law created a tax subsidy for Puerto Rican debt that encouraged middle class Americans to binge on loaning money to Puerto Rico without really realizing that's what they were doing.

Puerto Rican debt is «triple exempt» from taxes: Bonds issued by the territory's government are exempt from state / territory - level, municipal, and federal taxation.

This may surprise some given the recent default announcement of Puerto Rican debt, which is a vivid reminder of why it's important for investors to be completely aware of what they own and the risk they take in search of yield.

If ever there was a disconnect between underlying reality and what is happening in financial markets, it is the boom in Puerto Rican debt which has nearly doubled the value of some of its debt securities over the last few months.

But there is something profoundly troubling about speculators in Puerto Rican debt reaping windfalls even as estimates of hurricane damage are revised up, tax reform legislation undermines Puerto Rican competitiveness, out - migration increases, political cleavages increase, layoffs from the public sector are set to increase and outside observers become more pessimistic about Puerto Rico's economic prospects.

Local efforts by GDB and other Puerto Rican debt issuers to reach a debt restructuring are running in parallel with plans in the U.S. Congress to draft legislation aimed at solving the island's economic crisis, possibly by allowing it to restructure debt and putting its finances under federal oversight.

Not exact matches

Having occurred Monday, November 6, 2017 between 2:00 pm & 4:00 pm, it also explored the appropriate policy response from Washington to the Puerto Rican crisis and the issue of how the island's debt might be restructured.

Since Congress has, so far, not acted we are now on the precipice of a much more uncertain and chaotic situation in which Puerto Rico will attempt to selectively cancel debts and bondholders will seek to use the federal courts to block the Puerto Rican government from operating until it pays up.

Successive Puerto Rican governments responded to demand for their debt in the economically rational way — they borrowed an unusually large amount of money.

But the more the Puerto Rican economy suffers, the harder it is for Puerto Rico to pay back its debts.

Carrying Puerto Rican flags and signs depicting vultures to represent the hedge funds allowing investors to profit from the island's debt, advocates chanted «Wall Street's greed is making Puerto Rico bleed» and voiced concern that the board would implement labor policies that would slash worker salaries and harm the working class.

Carmen, a Bronx resident of Puerto Rican descent who attended the rally, said she is very emotionally involved with the debt issue, as both her parents currently reside in Puerto Rico.

It creates a federal oversight board (PROMESA), which will have the ability to re-structure debts and audit the Puerto Rican government.

As a result of the growing debt and joblessness, skilled Puerto Rican residents have left the island.

In a letter sent to hedge fund and opportunistic fixed income managers, Trustees of the New York City Employees Retirement System (NYCERS) called on its hedge fund managers and opportunistic fixed income managers who invest in distressed debt and might therefore, at present or in the future, hold Puerto Rican municipal obligations, to «negotiate in good faith to find a just and equitable solution to» repayment of the municipal debt at the center of Puerto Rico's economic crisis.

The Puerto Rican government says it needs to restructure its debt or receive federal help within the next year if it is to remain solvent.

The governor was joined in Puerto Rico by more than a dozen New York lawmakers and public health leaders who offered advice on how to restructure an economy burdened with $ 72 billion of debt that Puerto Rican leaders do not believe they will be able to repay.

Also at noon, members of the Puerto Rican community, activists, union leaders, and the Hedge Clippers, will rally against Trump because of his opposition to debt relief that would help 3.5 million Americans facing a humanitarian crisis in Puerto Rico, Trump International Hotel and Tower, 1 Central Park W., Manhattan.

At the moment, it is unknown how much money is needed to fix Maria's damage on the Puerto Rican school system; however, Puerto Rico's current $ 120 billion debt crisis adds salt to the wound (Kennedy & Migaki, 2018).