NYC Boss

NYC Boss

Bernie Sanders: "Puerto Rico’s $70 billion debt is unsustainable and it is unpayable. And the reason why it is unsustainable has everything to do with the greed of Wall Street vulture funds."

The Truth-o-Meter says: Half-True | Bernie Sanders links Puerto Rico’s debt crisis to Wall Street greed

Bernie Sanders condemned Wall Street for creating and now profiting off Puerto Rico’s debt crisis during a campaign stop on the island. Puerto Rico is currently $72 billion in debt and, in the words of its governor, in "a death spiral." Unlike other states and cities, it cannot legally declare bankruptcy. So Sanders called for the Federal Reserve to help the U.S. territory out, just as it bailed out the financial sector responsible for imperilling 3.5 million Puerto Ricans in the first place.   "I think all of us understand and your government understands that Puerto Rico’s $70 billion …

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