PAUL RYAN PUERTO RICO BAILOUT CRASHES MARKETS
When Government meddles in the affairs of private lending Capitalism recoils. House Jihadist Paul Ryan and Obama do a backdoor deal to bailout Puerto Rico. PAUL RYAN and his Romney Crowd including Utah’s Rob Bishop are pushing to allow Puerto Rico to unload much of its $73 Billion in debt in the bankruptcy Courts. Puerto Rico does not have access to Bankruptcy Courts at present or when they negotiated with lenders to fund bonds and other debt. In other words, they want to change the terms of their deal and waltz into Bankruptcy Court like Detroit. Both Detroit and Puerto Rico have been under unopposed Democratic party rule for decades. PAUL RYAN PUERTO RICO BAILOUT CRASHES MARKETS.
Bernie Sanders wants the USA to just Bailout Puerto Rico. Obama and Ryan want the Bondholders and lenders to be destroyed while at the same time offering a Bailout of Funds to Puerto Rico. Nowhere are any of these politicians considering the rights of lenders or the Taxpayers. There is absolutely noting in this BAILOUT for the Taxpayers except footing the bill for the lavish lifestyles of democratic politicians and their cronies.
Remember back in December when this issue was already on the table. Puerto Rico must have figured the Bailout Fix was in because instead of making debt payments, the gave out $140 million in Christmas bonuses to guberment workers. BONUSES? There are only three million inhabitants of Puerto Rico. This is obscene. The debt is $75 Billion! This isn’t time for a bailout. It is time for a criminal investigation!
This isn’t the private sector. How do government employees deserve BONUSES? It is not as if any of these Puerto Rico employees reduced costs or increased sales of some product. Yet these lavish bonuses were paid INSTEAD OF PAYING THE DEBT SERVICE!! That is a decision to default with the idea that the money would never have to be paid back. What does that tell you? It tells you that Puerto Rico was expecting a bailout and would continue to flaunt their disrespect for lenders. Of course Obama and the Politicians in Washington DC were good with this waste.
Here we have that phony republican Paul Ryan locking arms with Obama once again to push through that atrocious Obama Liberal Agenda where the only big losers are the taxpayers and the US Financial System.
What are these Democrats and Ryan a pseudo Democrat trying to do? They are trying to move $44 Billion in Puerto Rico Government pensions into a government guaranteed expenditure over all other general purpose expenditures. But the number here are astronomical. These are Oceanfront government pensions that Democrats are trying to force Taxpayers to cover no matter what. The rest of the debt Puerto Rico expects to just walk away from in the bankruptcy court. This deal is obscene.
The long term consequences of a rout like this against the creditors will be no municipal or State bond markets and the Federal Taxpayers will get stuck with all the Detroits and other scam cities, States and territories where Democrats have run the debt load sky high. The Federal Taxpayer should not be bailing out States, municipalities, counties, or foreign territories.
What Paul Ryan and Obama are doing here is Unconstitutional. They are turning the lender’s contracts into an absolute nullity. This essentially amounts to Nationalization of all Municipal Bonds and is completely utterly Unconstitutional.
PAUL RYAN SHOULD BE IMPEACHED FOR THIS.