Thursday, July 30, 2015

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. 

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