NEW YORK (TheStreet) — Puerto Rico's Governor Alejandro Garcia Padilla says the island's debts of more than $70 billion are "not payable." He says the commonwealth is in a "death spiral." Per capita, Puerto Rico has built up more municipal bond debt
Meanwhile, Puerto Rico became the front of a new crisis, with Gov. Alejandro García Padilla saying in a televised address Monday evening that the island could not pay back at least $73 billion in debt. García Padilla said he would seek a deal with
Paulson has also been one of the biggest financial backers of Puerto Rico. Last year, he called the U.S. territory the Singapore of the Caribbean. In March 2014, Paulson's fund was one of a number of hedge funds that bought into a $3.5 billion bond
Suppose you own a car dealership in San Juan, the capital of Puerto Rico, and you want to sell new Fords. The only way to get them to the island is by boat — but not just any boat. In 1920, Congress passed a law restricting all trade between U.S
Travelers who have trips booked to Puerto Rico shouldn't be concerned, said Olga Ramudo, president and CEO of Miami-based Express Travel. She said any negative repercussions of the financial crisis likely will not be immediately apparent. “I wouldn't