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Puerto Rico Should Close Schools And Sack Teachers To Pay Back Its Debts, Hedge Funds Say

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http://www.independent.co.uk/news/business/news/puerto-rico-should-close-schools-and-sack-teachers-to-pay-back-its-debts-hedge-funds-say-10421739.html


A group of billionaire hedge fund managers have called for Puerto Rico to sack teachers and close schools so that investors can recover some of the $72 billion in debt the country owes, even though over 100 schools have already closed in the country this year alone.

Three former International Monetary Fund economists were hired by a group of 34 hedge funds to write a report titled ‘For Puerto Rico, there is a better way’. They found that Puerto Rico should raise taxes, cut health benefits and sack teachers to shrink the size of the state rather than default and leave bondholders out of pocket.

Well billionaire hedge fund managers need to be kept in the lifestyle they demand at the expense of childrens education which might give the country in debt a chance of repaying them back the money.

Debt reductions clearly needed.

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You wonder how long people are going to put up with this crap before the pitchforkes come out. More short term asset stripping of economies by a greedy bunch of psychopaths.

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When Alex Jones said about the elites having paintings of people eating unborn babies for art - something ain't right....

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You wonder how long people are going to put up with this crap before the pitchforkes come out. More short term asset stripping of economies by a greedy bunch of psychopaths.

How about sacking all the bankers and closing all the banks?

These cretins have gone from ruining individuals, to ruining companies, to ruining whole countries. What's next the world! Oh. My bad, too late.

How on earth do they think a thick, un-educated population are going to be able to pay for all the champaign and sports cars the bankers have bought? Give 'em a fighting chance!

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A lot of this would be solved if sovereign default was countenanced. There could be a lot of them all in a short space of time, even.

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Hero is an over used American colloquialism meaning 'douchebag'.

atlantic-april-2012-cover-ben-bernanke.p

Surely some mistake?

Everyone knows it was Gordon Brown who saved the world.

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You wonder how long people are going to put up with this crap before the pitchforkes come out. More short term asset stripping of economies by a greedy bunch of psychopaths.

Bankers should be very thankful there isn't a Lenin or Mao around at the moment.

Thankfully for them it's the right wing parties doing well at the moment in "The West" and they just seem to blame immigrants for the world's ills.

Never really sure what the deal with Puerto Rico is wrt USA, as it is and isn't part of the US :unsure:

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That will give the Greek bailout negotiators something to think about. They will be carefully considering if they think they could get away with it......

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Never really sure what the deal with Puerto Rico is wrt USA, as it is and isn't part of the US :unsure:

Indeed. I didn't realise it was not sovereign. I guess it must be a protectorate or something, kinda like the Falklands?

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Bankers should be very thankful there isn't a Lenin or Mao around at the moment.

Jeremy Corbyn? Going by some of the media coverage he's considerably worse than both of those two.

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