Puerto Rico Needs Bankruptcy Option, Says Detroit Judge

The now retired judge who handled what is largely a recovery story in the Detroit bankruptcy says Puerto Rico needs this option to flourish, as he says “kicking the can down the road” is an option that is “no longer available.” Puerto Rico debt issue only becomes more problematic when it is ignored Debt of all sorts is always difficult to deal with. When that moment of truth occurs that loans to pay pervious loans will no longer work and the realization that SWAPs “solutions” proposed by the “best and brightest” might actually be best suited to line insurance seller’s…