Refund America Project report: Nearly half of the debt owed by Puerto Rico is not actually money that the island borrowed, but instead interest owed on bonds underwritten by Wall Street firms

Series of banks were lead underwriters on the bonds, including Citigroup, Merrill Lynch—now under Bank of America—Goldman Sachs, UBS, Banco Santander.

Refund Project website:

A fact sheet on Puerto Rico’s capital appreciation bonds (CABs). Haga clic aquí para una versión en español de este informe.

 

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s