As advocacy groups urgently warn that Wall Street firms are moving to capitalize on Puerto Rico’s plight in the aftermath of Hurricane Maria by extracting debt payments and pushing for the privatization of public services, Sen. Bernie Sanders (I-Vt.) joined Sen. Elizabeth Warren (D-Mass.) and several other Democratic senators on Wednesday to introduce a bill that would “provide an avenue to comprehensive debt relief” for the island.
“Congress should pass this legislation right away—our fellow U.S. citizens are counting on us.”
Click Here: Maori All Blacks Store—Sen. Elizabeth Warren”Greedy Wall Street vulture funds must not be allowed to reap huge profits off the suffering and misery of the Puerto Rican people for a second longer,” Sanders said in a statement on the new bill, which would also provide debt relief for the U.S. Virgin Islands and other territories ravaged by recent hurricanes. “It is time to end Wall Street’s stranglehold on Puerto Rico’s future, return control of the island to the people of Puerto Rico, and give the territory the debt relief it so desperately needs to rebuild with dignity.”
As reporter David Dayen noted in The Intercept, the senators’ new legislation is a striking departure from efforts to address Puerto Rico’s debt crisis under President Barack Obama, who in 2016 signed legislation that “led to punishing austerity proposals, mass protests, and a wave of privatization, with assets sold off to finance interest payments.”
SCROLL TO CONTINUE WITH CONTENT