Puerto Rico - the next Greece?

Puerto Rico on the Brink of Financial Collapse

Economist James Henry breakdowns the hedge funds, bond holders, and wealthy individuals who have benefited from Puerto Rico's triple tax exempt status

To watch video GO HERE

Is Puerto Rico America’s Greece? U.S. Commonwealth Seeks Bankruptcy Help in Face of Crushing Debt

Puerto Rico could be on the verge of following Greece in defaulting on its debt. Puerto Rico’s government and the Puerto Rico Electric Power Authority say they will miss today’s deadline for more than $1 billion in payments on a debt of more than $73 billion. This comes as Puerto Rico’s unemployment is more than twice the U.S. national rate, and its poverty level is nearly double that of the poorest U.S. state. Meanwhile, Puerto Rico’s healthcare system may also be on the verge of collapse. We are joined by Congressmember Nydia Velázquez, Democrat for New York and the first Puerto Rican woman to be elected to Congress.