Fact One: There are 3.7 million Puerto Ricans, 45% of whom live in poverty. Fact Two: According to its April 3, 2012 Official Statement, Puerto Rico has $68 billion of debt. Fact Three seems obvious: it is going to be...more
Some in the public finance world are arguing that the Detroit bankruptcy and similar situations call into question the efficacy of general obligation debt, thereby undermining the market for and pricing of general obligation...more