“These fraudulent credit ratings allowed Puerto Rico to issue new debt ultimately resulting in the financial collapse and a loss to the original bond holders of $39 billion dollars.”

Round up the usual suspects, Washington and Wall Street who allowed bonds issued by Puerto Rico to be rated as valuable, when the island was already bankrupt and buyers of these bonds would later suffer large personal losses. One thing is clear, the people of Puerto Rico did not benefit from this corrupt deal, but are now the ones that are expected to pay. Puerto Rico already has a 46% poverty rate.

via Puerto Rico’s Financial Collapse Wasn’t Caused By The Economy | The Daily Caller