WASHINGTON — The two most prominent progressives in the U.S. Senate urged the federal government Thursday to help Puerto Rico stand up against the “vultures” they largely blame for the island’s current fiscal nightmare.
What is that saying? Fool me once, shame on you, fool me twice, shame on me. For over a decade the Puerto Rico Electric Power Authority (PREPA) has reached out to the bond market promising up-graded facilities, new cheaper electricity with natural gas, solar and wind. Time and time again, it didn’t happen.
The 60 Plus Association announced Thursday the formation of "Main Street Bondholders," a new small bondholder coalition made up of ordinary investors from Puerto Rico and the U.S. mainland who hold retirement, college and life savings in Puerto Rican bonds.
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