Puerto Rico Got Away With It
Puerto Rico I’ve been doing some research on the municipal bond market, specifically troubled communities. Bankruptcies in Stockton and San Bernardino (California), borderline fraud in Harrisburg...
View ArticleMore About Puerto Rico Debt
On Sunday I posted an article in which I alleged that the government of Puerto Rico got something north of $200 million above what their credit should have cost. Since then, Cate Long pointed out that...
View ArticlePuerto Rico Update
Megan McArdle Today Megan McArdle pointed me to a piece on Puerto Rico by Matt Levine. I won’t even try to sommarize it. Instead, just click here. Matt Levine
View ArticleChicago and Puerto Rico Show How Not to Do It
The news from Chicago today was amazing. The city issued taxable bonds. Think about that. In principle they could issue tax-exempt bonds and pay a lower interest rate. Why didn’t they do that? And how...
View ArticleThe Puerto Rico Disaster
Hurricane Maria has devastated Puerto Rico. Hopefully this is not news to you. But some of the responses have been way over the top. In this article I’ll review a little history. That will help you...
View ArticleMaria Did Not Kill 4,645 Puerto Ricans in 2017
A New England Journal of Medicine paper implies that 4,645 Puerto Ricans may have died because of Hurricanes Irma and Maria. Using the actual number of deaths my best guess is that the hurricanes may...
View ArticleSave Puerto Rico From Dollar Tyranny
Greek drachma coin (click for larger image) Puerto Rico faces many of the same economic problems as Greece: high external government debt, locked into a common currency with other countries, and an...
View Article
More Pages to Explore .....