A while ago I suggested taking a chance on Puerto Rico’s distressed general obligation bonds. The chickens have been coming home to roost for quite some time now but seem finally to have arrived, as explained here, in the New York Times, or here . . . far more colorfully . . . by the great John Oliver.
I don’t see their ever becoming worthless; but interest payments could well be delayed and/or reduced.
The main thing: how do we help restore vitality to the Puerto Rican economy?
Quote of the Day
Many [managing agents of New York cooperative apartment buildings] promote arbitration and mediation. This would prevent cases like the recent one in which $130,000 in legal fees were exhausted to decide who should pay for window bars costing $924.~The New York Times, October, 1995
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