Preying on Puerto Rico?

Vultures preying on Puerto Rico

BRONX, NEW YORK (BRONX NEWS) - Borough President Ruben Diaz issued the following statement regarding Hedge Fund Demands on Puerto Rico to deal with the island's economic crisis:

“It is a travesty that these hedge fund millionaires want to

squeeze a dry sponge, insinuating that Puerto Rico should close down

more schools to pay its debts, when earlier this year 100 schools were

closed down while another 500 schools were restructured. This does not

count an additional 60 schools that were shut down last year. 

“They are certainly behaving like vultures, insisting that the

residents of the island pay more taxes when those taxes have already

been raised in response to the economic crisis. The demands of

creditors, which include selling public land and firing teachers among

other suggestions that will not resolve this crisis, put considerable

pressure on the 3.5 million American citizens that call Puerto Rico

their home.  

“Such craven behavior shows why it is so important that the

federal government allow Puerto Rico the opportunity to file for

bankruptcy protections," Diaz said.