{"id":1327,"date":"2013-10-10T12:46:38","date_gmt":"2013-10-10T12:46:38","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2013\/10\/us_treasury_doesnt_intend_to_p"},"modified":"2022-09-19T10:00:31","modified_gmt":"2022-09-19T15:00:31","slug":"us-treasury-doesnt-intend-to-p","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/us-treasury-doesnt-intend-to-p\/","title":{"rendered":"US Treasury Doesn’t Intend to Provide Aid Over Puerto Rico Bond Fund Debacle, Says Spokesperson"},"content":{"rendered":"

\t\t\t\tHope that the US Treasury will save ailing Puerto Rico bonds<\/a> does not appear to be warranted. According to a spokesperson for the department, who did not wish to be named, the Treasury will not be providing help to the US territory over the municipal bond fund debacle.<\/p>\n

However, reports Fox News<\/em>, the federal government is expected to provide incentives to enhance Puerto Rico’s failing economy. Right now, Puerto Rico’s debt, which is mostly in mutual funds, is at about $70 billion. That’s close to 2% of the $3.7 trillion municipal bond market. This is significantly higher than Detroit’s $18 billion debt that forced that city to file for municipal bankruptcy earlier this year.<\/p>\n

Yet even as Puerto Rico’s debt continues to grow, it won’t be allowed to file for Chapter 9 bankruptcy because like US states, territories cannot seek such protection. That said, officials in Puerto Rico maintain that it isn’t bankrupt yet.<\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

Hope that the US Treasury will save ailing Puerto Rico bonds does not appear to be warranted. According to a spokesperson for the department, who did not wish to be named, the Treasury will not be providing help to the US territory over the municipal bond fund debacle. However, reports Fox News, the federal government […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3922,4039,3755],"tags":[2624,2625],"class_list":["post-1327","post","type-post","status-publish","format-standard","hentry","category-municipal-bonds","category-puerto-rico-bond-funds","category-ubs","tag-banco-popular","tag-banco-santander"],"yoast_head":"\nUS Treasury Not Providing Aid Over Puerto Rico Bond Fund Debacle — Investor Lawyers Blog<\/title>\n<meta name=\"description\" content=\"The US Treasury has announced that it will not be providing help to the US territory of Puerto Rico over the municipal Puerto Rico bond fund debacle.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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