The Soapbox

ConnHoo

Joined: 10/21/2014 Posts: 2983
Likes: 514


PROMESA bill has given PR chapter 9 rights.


None of the 50 states can declare bankruptcy either, only cities.

NYC had a bond crisis in the 1970s, it took a state agency to create a bonding fund to rescue NYC. took decades to pay off. That Agency Boss, Felix Rohatyn, spoke at my undergrad graduation, amazingly boring speech.

If a city, state, or territory is allowed to declare bankruptcy, the Governor, Mayor, City Council, Legislatures, and Assemblies should be forced to leave office. Politicians need to know there are repercussions for not paying the bills.

(In response to this post by Seattle .Hoo)

Posted: 04/19/2018 at 08:03AM



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