Preying on Puerto Rico, The Forgotten Citizens of Hedge Fund Island

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<p>‘J st like Detroit, Greece a other places rocke by the recessio a gover me t misma ageme t, P erto Rico’s ebt balloo e over the last eca e, f rther exacerbate by colo ial stat s a expiri g tax i ce tives.</p>
<p>I 2012, he ge f ma agers bega to circle the Commo wealth, looki g to reap billio s – a experime t with ew wealth extractio strategies that co l be importe back to the America mai la . The short versio : They bo ght P erto Rica bo s after the price fell.</p>
<p>Now these “v lt re” ma agers (as they are literally calle for their cre itor a istresse b yi g schemes – los b itres i Spa ish) i sist that a y package from Washi gto that allows P erto Rico to re egotiate its $72 billio ebt p ts Wall Street i vestors at the fro t of the li e to get pai .’</p>
<p><a href="http://www.alter et.org/eco omy/ ew-vi eo-preyi g-p erto-rico-forgotte -citize s-he ge-f -isla " target="_bla k">Rea more: Preyi g o P erto Rico, The Forgotte Citize s of He ge F Isla </a></p>