THERE's THAT NUMBER AGAIN.. Puerto Rico defaults

[imSINGLEruRICH]

portrush
Administrator
18 hours ago carlos, IceCrush and 2 more like this.
Post by portrush on 18 hours ago

Check this out...there's THAT number again!
pr



Wall Street Journal Update 8/3/15
Puerto Rico Defaults on Most of Debt Payment

Puerto Rico missed most of a $58 million bond payment, the first default by the U.S. commonwealth in what may become one of the largest restructurings in the history of the $3.7 trillion market for debt sold by U.S. state and local governments.

The Government Development Bank for Puerto Rico said the missed payment came after the legislature failed to appropriate money to service the debt.







portrush
Administrator
Post by portrush on about an hour ago

Close enough, Dutch, is right. More interesting to me is this phrasing: "one of the largest restructurings in the history of the $3.7 trillion market for debt sold by U.S."

Restructure
Revalue
Settlements (Global or otherwise)
Debt
Market for Debt = Derivatives?

Interesting. But not to be outdone by the oft heard phrase (also included in this release)..."the legislature failed"


pr