Protesters Rally Near Trump Tower To Demand Justice For Puerto Rico

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.

Trump told Fox News on Tuesday that federal officials would have to look at Puerto Rico's debt structure and "we're going to have to wipe that out".

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.


Popular
  • Google's parent company to restore wireless service in Puerto Rico using balloons

    Google's parent company to restore wireless service in Puerto Rico using balloons

    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.
    Worker fatally shoots former boss, self at Midtown construction site

    Worker fatally shoots former boss, self at Midtown construction site

    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.

    Dani Ceballos Brace Leads Real Madrid Past Deportivo Alaves in La Liga

    The Spain under-21 global wheeled away in delight after rebuffing two defenders before angling a low shot past Fernando Pacheco . Garcia was perhaps fortunate to escape a red card for Alaves after elbowing Lucas Vazquez in the head.
  • European Parliament to debate Catalan independence vote

    European Parliament to debate Catalan independence vote

    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.
    Hurricane Lee remnants to usher in heavy rain and gales

    Hurricane Lee remnants to usher in heavy rain and gales

    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 .
    Darden Restaurants, Inc. (NYSE:DRI) One of Today's Biggest Losers - Down $4.79

    Darden Restaurants, Inc. (NYSE:DRI) One of Today's Biggest Losers - Down $4.79

    Wedbush Securities Inc. lifted its stake in Darden Restaurants by 0.5% in the second quarter. (NYSE: DRI ) for 23,662 shares. The company's shares were given away at $91.69 per share worth to an income of some $3,401,699 on account of George David C.
  • Processions, majalis for 10th of Muharram conclude peacefully across country

    Processions, majalis for 10th of Muharram conclude peacefully across country

    Moreover, the cellular services will also remain suspended in Karachi and other parts of the country on 10Muharram (tomorrow). In Lahore, the procession emerged from Nisar Havel and concluded at Imambargah Karbala Gamay Shah.

    Leading Off: Red Sox, Rockies try to clinch, Stanton near 60

    Houston is one game behind Cleveland for the AL's best record, and there's little mystery about what's made the Astros so good. The concept of a bullpen game in the postseason may seem far-fetched but so is expecting to win with Porcello or Fister.
    North Korea not ready to shoot down B-1B bombers, Seoul says

    North Korea not ready to shoot down B-1B bombers, Seoul says

    President Moon added it was inappropriate to discuss the deployment of nuclear weapons in South Korea, the lawmakers said. President Donald Trump had "declared war" on his country following Trump's speech at the United Nations General Assembly.
  • F1: Max Verstappen ends birthday on a high with Malaysian GP win

    F1: Max Verstappen ends birthday on a high with Malaysian GP win

    Horner believes Verstappen's ability to handle pressure was the most impressive part of his Malaysian Grand Prix victory. Ferrari teammate Kimi Raikkonen did not even start, despite qualifying second.
    Marilyn Manson Cancels Shows After New York Stage Injury

    Marilyn Manson Cancels Shows After New York Stage Injury

    According to some gig-goers, the singer had been attempting to climb the prop before they gave way and fell on top of him. Variety reported that the house and stage lights remained down for several minutes as crew members tried to help Manson.
    'Star Trek: Discovery': Meet Spock's Father Sarek

    'Star Trek: Discovery': Meet Spock's Father Sarek

    Did it accomplish the former? Note: We're avoiding major spoilers in this review of Star Trek: Discovery's two-part premiere. Once you ignore what it could have been, it's easier to determine what Discovery actually is: a thoroughly mixed bag.

CONNECT