Recent news coverage about Puerto Rico has focused on its high public debt and imminent default while, in U.S. Congress, powerful lobbies seem to hold more sway over Puerto Rico’s future than do more than 8 million U.S. citizens.
In a letter to Senate Republican leader Mitch McConnell, Nevada Senator Harry Reid on Tuesday called on Republicans to work with Democrats to address the deepening debt crisis facing Puerto Rico.
In the days since Assured Guaranty filed a lawsuit jointly with monoline insurer Ambac against the commonwealth of Puerto Rico over the constitutionality of revenue clawbacks, the parties have been defending their corners via public statements.