Puerto Rico Day of ActionThis week, Puerto Rico argued before the Supreme Court that it should be able to restructure its debt. If Puerto Rico were a country, it could go to the IMF. If it were a city, it could declare bankruptcy. But because Puerto Rico is a U.S. territory, it can do neither. Without help, Puerto Rico is at the mercy of Wall Street vulture funds, creditors that specialize in preying on borrowers who are in trouble. The Republican leadership needs to step in immediately and help millions of American families who are caught in an economic catastrophe.
Posted by U.S. Senator Elizabeth Warren on Friday, March 25, 2016
March 2016, Puerto Rico argued before the Supreme Court that it should be able to restructure its debt. If Puerto Rico were a country, it could go to the IMF. If it were a city, it could declare bankruptcy. But because Puerto Rico is a U.S. territory, it can do neither. Without help, Puerto Rico is at the mercy of Wall Street vulture funds, creditors that specialize in preying on borrowers who are in trouble. The Republican leadership needs to step in immediately and help millions of American families who are caught in an economic catastrophe.
