Protesters Rally Near Trump Tower To Demand Justice For Puerto Rico
00:21, Oct 8, 2017
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Puerto Rico's huge debt burden - totaling $73 billion - forced it to file in May for the biggest US municipal bankruptcy in history.
"It likely that there will be significant debt reduction in that process".
"Puerto Rico can not go forward with all of this litigation hanging over it", Long said last week.
On Tuesday, Trump visited the island to assess the damage of storm, suggesting that Maria was not a "real catastrophe" like Hurricane Katrina, and making a joke about the cost of the recovery. However, no matter how the details shake out, creditors won't be paid anytime soon.
As reports emerged that some Puerto Rico residents were forced to eat dog food in a medical clinic, while others were rationing water, Trump on Tuesday (Wednesday NZ Time) sat in a plane hangar, heaped praise on himself and his team, and sought affirmation from federal and local leaders. "If people of Puerto Rico had power and could watch TV, they might differ".
According to a poll by the Associated Press-NORC Center for Public Affairs Research, just 32 percent approve of how Trump is handling disaster relief in the US territory, while 49 percent disapprove.
It's been two weeks since Hurricane Maria raked Puerto Rico, but the island's doctors and nurses remain in nonstop triage in hospitals dealing with power outages, evacuations, dwindling supplies and nearby crime, NBC News reported. "Well, you know, they're dying. Everybody watching can really be very proud of what's taken place in Puerto Rico". "And we're going to have to wipe that out", he said.
Trump travels to Puerto Rico a day ahead of another somber trip to Las Vegas, in the wake of the mass shooting that killed at least 59 people. Its bonds were attractive to investors across the US because they are are exempt from federal or state income tax to residents of all 50 states. "But it is scaring the bond market". As the crisis dragged on, most broad municipal bond mutual funds sold their Puerto Rican debt.
"For the most part, Main Street America owns this debt", Long said last week. Creative bankruptcy lawyers could "try to argue that the debts of Puerto Rico should be debts of the federal government".
The Federal Emergency Management Agency said more than 12,000 federal officials are now on the ground on the island, and 45 percent of customers now have access to drinking water. It was restructured by Congress past year in a bill that also created an control board with oversight over the island's finances.
In addition, Americans were far more likely to donate money to victims of hurricanes Harvey and Irma, with Red Cross donations to Harvey standing at $350 million, Irma at $45 million, while donations to those affected by Hurricane Maria stand at a relatively low $9 million.
It's unclear if Puerto Rico's stressed telecom companies even have the resources to partner with Google on this endeavor. Most of the recovery news has rightly focused on the hard journey to get Puerto Rico's power grid back online.
Authorities say the suspect in the shooting was later found dead of a self-inflicted gunshot wound on the fifth floor. Carpenter Robert Pagan said he was working in the building when he heard gunfire and ran to help.
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He disagreed with the European Commission's statement on Monday that events in Catalonia were an internal issue for Spain. That police action was met with furious protests and the Catalan regional police were accused of failing to intervene.
The National Hurricane Center's official forecast cone has Maria passing off the coast of the Carolinas early to mid-week. A Tropical Storm Warning is in effect for the Albemarle and Pamlico Sounds, according to the National Hurricane Center .
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