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June 30, 2015
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Blog, Securities Fraud
According to reports, U.S. fund manager OppenheimerFunds, the largest holder of Puerto Rico debt among U.S. municipal bond funds, warns that it stands ready to defend the terms of bonds it holds. This statement comes a day after the governor said he wanted to restructure debt and postpone bond payments. Puerto
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June 30, 2015
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Blog, Securities Fraud
**Update** The US government has announced that it will not bail out Puerto Rico. Subsequently, the commonwealth may default on its debt.This would cause a historic economic collapse since Puerto Rico’s governor said the island cannot pay its $72 billion in debts. The inability of the U.S. territory to repay its
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June 29, 2015
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Blog, Securities Fraud
Many investors in Puerto Rico municipal bonds have concern for their investments. The commonwealth has been able to stave off a bail out but the island remains indebted more than $70 billion dollars, or about 68% of its gross domestic product. Furthermore the three major bond credit rating agency downgraded Puerto
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