Saturday, May 21, 2016
Puerto Rico's debt crisis
If Puerto Rico had had a "Credit Receipt" option, then Templeton & Oppenheimer might have turned in their bonds to the US Treasury. Once the Treasury verified the bonds were free of all encumbrances and verified ownership, the asset would be registered. The obligation rests with the PR government, as expressed through the inhabitants' organization. The right is in custody of the Treasury and terms can be negotiated.
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