Blue Island on the Brink
Blue Models Crash, Wall Street Cleans Up
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  • Andrew Allison

    Payday loans, writ large!

  • Bruce

    “That which is unsustainable will end.” But not before Wall Street extracts a bit more flesh.

  • free_agent

    It’s all true, but on the other hand, Wall Street are professionals who know how to raise large sums of money that you can borrow, and that expertise is valuable. After all, if *you* were assigned the job of borrowing $3 billion for a debtor whose financial collapse seems inevitable, would *you* be able to do it?

    From what I’ve read, the usual fee for a $1 billion bond issue is around $20 million (2%), so Puerto Rico seems to be getting a good deal with a less than 1% fee.

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