Trump supports wiping out Puerto Rico's debt

I bet a lot of Wall Street guys are sweating nervously about this. Last night, Trump talked to Geraldo Rivera about Puerto Rico, and he make this comment:

"They owe a lot of money to your friends on Wall Street and we're going to have to wipe that out," Trump told Rivera. "You can say goodbye to that."

PR is already in bankruptcy. Wiping out their $79 Billion debt would give them a fresh start, but it'll make the financial types really unhappy.

originally posted by: AndyFromMichigan
I bet a lot of Wall Street guys are sweating nervously about this. Last night, Trump talked to Geraldo Rivera about Puerto Rico, and he make this comment:

"They owe a lot of money to your friends on Wall Street and we're going to have to wipe that out," Trump told Rivera. "You can say goodbye to that."

PR is already in bankruptcy. Wiping out their $79 Billion debt would give them a fresh start, but it'll make the financial types really unhappy.

I made a thread a while back about this...well before Trump was even running. I'll look for it, but essentially I said that whomever clears their debt will have the largest voter base when they bring them in as a state.

The absolute Madman!
Best president ever?
Maybe

a reply to: AndyFromMichigan

I heard him say that too. What a load of crap. Of course he needs to say that but it will never happen. The banksters will foreclose on Puerto Rico,

They have too. All the loans that can be made to that country have been made for precisely this foreseeable tragedy.

They were leveraged already to the tune of twelve billions, who is going to pay that back?

How are they going to secure more loans to rebuild? They aren't.

Why we see the tragedy still unfolding.

a reply to: AndyFromMichigan

As president if you piss off enough people in power bad things happen.

a reply to: AndyFromMichigan

Maybe it's time for those boys on wall street to repay some of that $700 billion bailout they got.

originally posted by: intrptr
a reply to: AndyFromMichigan
They have too. All the loans that can be made to that country have been made for precisely this foreseeable tragedy.

And that's exactly why the loans should be wiped out. Predatory lenders deserve to be left sweeping up the crumbs off the floor. Loan sharks with fancy Wall Street offices are still loan sharks.

originally posted by: Vasa Croe

originally posted by: AndyFromMichigan
I bet a lot of Wall Street guys are sweating nervously about this. Last night, Trump talked to Geraldo Rivera about Puerto Rico, and he make this comment:

"They owe a lot of money to your friends on Wall Street and we're going to have to wipe that out," Trump told Rivera. "You can say goodbye to that."

PR is already in bankruptcy. Wiping out their $79 Billion debt would give them a fresh start, but it'll make the financial types really unhappy.

I made a thread a while back about this...well before Trump was even running. I'll look for it, but essentially I said that whomever clears their debt will have the largest voter base when they bring them in as a state.

The Republican Party was thinking the same thing when Reagan granted amnesty to 3 million illegal immigrants in 1986...
NPR
They were disappointed by what actually happened.
It did not swing the Latino voter base to the Republicans.

a reply to: dfnj2015

The bankster would prefer the loans are paid off. What difference does it make as long as they get their money.

It makes every difference. Foreclosure and seizure of assets are what banks are about. Interest just pays operating expenses.



Usury is evil, it intends to break you, the earlier the better.

originally posted by: AndyFromMichigan

originally posted by: intrptr
a reply to: AndyFromMichigan
They have too. All the loans that can be made to that country have been made for precisely this foreseeable tragedy.

And that's exactly why the loans should be wiped out. Predatory lenders deserve to be left sweeping up the crumbs off the floor. Loan sharks with fancy Wall Street offices are still loan sharks.

Thats why it won't happen. Banks run(ruin) this country, don't we know.

Trumps suggestion is for mass consumption, so we all feel better about whats ongoing there. The storm was a trigger event, whats happening now is the destruction of another country, in this case by usury.

Puerto Rico is a US territory, not a state. But you can see the future of America there in Microcosm. Here in the states the crumbling infrastructure, Institutions like education, healthcare, rise of drugs and crime, enormous debt. This house of cards only needs a kicker to bring it all down, wether by regions due also to natural disasters, or by sheer neglect, due to 'lack of funding', i.e., Money from too much incurred debt.

Thanks Wall Street, you assholes.

originally posted by: intrptr
a reply to: dfnj2015

The bankster would prefer the loans are paid off. What difference does it make as long as they get their money.

It makes every difference. Foreclosure and seizure of assets are what banks are about. Interest just pays operating expenses.



Usury is evil, it intends to break you, the earlier the better.

What assets exactly are they going to seize in puerto Rico?
They don't have any money
All their stuff is ruined.

originally posted by: Bluntone22

originally posted by: intrptr
a reply to: dfnj2015

The bankster would prefer the loans are paid off. What difference does it make as long as they get their money.

It makes every difference. Foreclosure and seizure of assets are what banks are about. Interest just pays operating expenses.



Usury is evil, it intends to break you, the earlier the better.

What assets exactly are they going to seize in puerto Rico?
They don't have any money
All their stuff is ruined.

You know the way Developers eye Cuba to open a new world wide tourism industry, Hotel Chains, Casinos, restaurants, cruise destinations, airports, etc?

same same...

"They owe a lot of money to your friends on Wall Street and we're going to have to wipe that out," Trump told Rivera. "You can say goodbye to that."

That, that right there is the m%!@# I voted for. Use your brain and common sense and start kickin'em in the nuts. They've done it us, time to give as good as we got it.

But we're definitely going to have to work on other aspects. That'ell do Trump... that'ell do

a reply to: AndyFromMichigan

Wow.....

Wall Street owes more than just Puerto Rico money, they probably owe every American money with how they've been shafting us for decades.

I don't see this happening, Trump is a big talker but Wall Street is a big walker, if they're not in bed together that is (which I'd be willing to bet money they are).

a reply to: Bluntone22


Add in the rest of the country will see what these guys are about. A P.R. disaster for Wall Street.

No, they will come up with yet another convoluted scheme to create paper money to balance the books.

originally posted by: Bluntone22

originally posted by: intrptr
a reply to: dfnj2015

The bankster would prefer the loans are paid off. What difference does it make as long as they get their money.

It makes every difference. Foreclosure and seizure of assets are what banks are about. Interest just pays operating expenses.



Usury is evil, it intends to break you, the earlier the better.

What assets exactly are they going to seize in puerto Rico?
They don't have any money
All their stuff is ruined.

I was thinking the same thing there isnothing to collect. Removing the debt only makes sense.

How about just making them a state, like Hawaii. It just needs to happen.

The only argument I hear against it is that it will be a Liberal state and we don't need more of that. But if you're conservative, how about reaching out to Moderate liberals instead of alienating them. Now's your chance after liberals trying to ram Hillary down our throats.

a reply to: AndyFromMichigan

You realize of course, and maybe Trump doesn't, that if the Feds take the position they are simply going to wipe out (I take that to mean "write off") the debt of every mismanaged Democrat controlled jurisdiction in the country, the US will be bankrupted, the financial institutions that loan these entities money will fail and the US credit rating will be junk status.

And if he means that the US gov't should just pay off PR's debt, the result would essentially be the same except it would also encourge every Democrat jurisdiction to engage in fiscal mismanagement.

From an economic standpoint, PR is a lost cause without some Congressional relief and Congress isn't capable of passing any meaningful legislation.