You may not agree with this stance, but it’s a really good explanation for how Puerto Rico got into the mess it’s in.
There are headlines crossing wire tonight that the government will not be making a bond payment tomorrow. PR is calling out to the US to make a deal for relief – not necessarily a bailout but the buying of time for a restructuring.
John Oliver explained why the current situation can be blamed mostly on the Puerto Rican government and partly on other factors. You may own some Puerto Rican debt in some of your US mutual funds and not even realize it, so this might apply to you.