Puerto Rico Defaults
May 2nd, 2016Via: CNN:
Puerto Rico is dialing 9-1-1 for any help it can get.
The island was unable to make a $422 million debt payment due Monday. It’s another alarm bell of how bad the situation is getting on the island.
Governor Alejandro Garcia Padilla calls it a “humanitarian crisis,” which a step above an economic emergency. He claims he is prioritizing paying Puerto Rico’s police and teachers over Wall Street.
