Armed Polite Society
Main Forums => Politics => Topic started by: Balog on May 19, 2016, 04:00:34 PM
-
http://www.nasdaq.com/article/republicans-obama-administration-reach-agreement-on-puerto-rico-restructuring-bill-20160519-00781
Remember when people were pining for rock-ribbed conservative Paul Ryan to be the GOPe nominee?
"The stability of the territory is in danger," said House Speaker Paul Ryan (R., Wis.) on Thursday. "Today, Republicans and Democrats came together to fulfill Congress's constitutional and fiscal responsibility to address the crisis."
http://www.zerohedge.com/news/2016-05-19/republicans-democrats-agree-bill-bailout-puerto-rico
As we have repeated, the entire tone of the process is reminiscent of the 2008 financial crisis when Hank Paulson threatened Armageddon if nothing was done to bail the banks out. This time, Treasury Secretary Jack Lew was sending out letters out warning that if no restructuring framework were to be set forth, a series of "cascading defaults" would be touched off. So, once again a path forward has been created that will simply wipe the slate clean for the US territory, and just as in 2008, a message has been sent that it's ok to take on unsustainable debt loads, as they can now simply be discharged either through bankruptcy or a congressional tweak to existing laws.
-
Remember when people were pining for rock-ribbed conservative Paul Ryan to be the GOPe nominee?
He used to be pretty reliably conservative- until he became Spray-on Tan Junior.
-
(https://armedpolitesociety.com/proxy.php?request=http%3A%2F%2Fi23.photobucket.com%2Falbums%2Fb398%2FFLHRI-OK%2Fpaul%2520pelosi.jpg&hash=1d27a9b8049edca3ca778dc0116af0a855d30b35) (http://s23.photobucket.com/user/FLHRI-OK/media/paul%20pelosi.jpg.html)
-
http://www.zerohedge.com/news/2016-05-19/republicans-democrats-agree-bill-bailout-puerto-rico
So, once again a path forward has been created that will simply wipe the slate clean for the US territory, and just as in 2008, a message has been sent that it's ok to take on unsustainable debt loads, as they can now simply be discharged either through bankruptcy or a congressional tweak to existing laws.
This.
It must be nice to have one's debt erased.
-
PR is too big to fail.
-
where is the surprise. The GOP, like the dhimmicrats, use public money for the primary purpose of buying votes.
-
And then they wonder why 2/3 of the GOP electorate feels betrayed by the GOP leadership. :facepalm:
-
Ryan and GOPe and BHO are not bailing out PR, they are bailing out their buddies who lent $$$ to PR.
"End colonialism now! Make PR independent again!"