Municipal Bankruptcy

For Richer, For Poorer: One Way or Another, America’s Government Will End Up Bailing Out Puerto Rico

Politicians in Washington, D.C. are scrambling for a solution to Puerto Rico's fiscal ciris, according to a commentary in The Economist. The island’s fiscal woes are in part the result of chronically bad budgeting. But they also stem from structural economic weakness. Bailing out Puerto Rico, which is self-governing but not a state, is not a popular option. Yet when any corner of America faces a deterioration in its long-run economic fortunes, the costs will end up being shared, one way or another.

Puerto Rico’s Fiscal Problems: Examining the Source and Exploring the Solution

 
Witnesses
 
Panel I
The Honorable Alejandro Javier García Padilla
Governor
Commonwealth of Puerto Rico
 
The Honorable Pedro Pierluisi
Resident Commissioner For Puerto Rico
United States House of Representatives
 
Panel II
Mr. Alex J. Pollock
Resident Fellow
American Enterprise Institute
Washington , DC
 
Mr. Stephen Spencer
Managing Director
Houlihan Lokey
Minneapolis , MN
 
Dr. Carlos A. Colón De Armas
Professor Of Finance
Graduate School of Business, University of Puerto Rico
San Juan , Puerto Rico
 
Mr. Richard Carrión
Executive Chairman
Banco Popular
San Juan , Puerto Rico
 
Mr. Richard Ravitch
Former Lieutenant Governor
State of New York
New York , NY
 
 

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