Senate approval of debt-relief legislation for Puerto Rico paved the way for President Barack Obama to sign the bipartisan bill into law before Friday, when Puerto Rico says it will default on some senior debt payments.
The Senate voted for a House bill, backed by the Obama administration, to create a control board and help the island restructure its $72 billion debt.
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The Supreme Court struck down Puerto Rico’s effort to restructure its public utility debts, ruling Congress had precluded the territory from enacting its own bankruptcy legislation.
Hillary Clinton ripped Donald Trump Monday for his four business bankruptcies, including his failed casinos. What little we know of his economic policies would be running up our debt, starting trade wars, letting Wall Street run wild, all of that could cause another crash…