Forget the U.S. Treasury’s help — let Puerto Rico file for bankruptcy
Fortune - 10/17/2015
While Europe agonizes over the Greek debt crisis, the United States is saddled with one of its own. Individual investment portfolios are replete with $72 billion in bonds issued by Puerto Rico’s government and its agencies, and since August this US Commonwealth has been in default. While federal law allows municipalities to restructure their debts under Chapter 9 that option is unavailable to states or US territories.