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Is Your Bond Fund Invested In Puerto Rico ?: Video & Text Presentation
FYI: Some of the top-performing municipal bond funds over the past five years have held huge stakes in Puerto Rican debt. Now that Puerto Rico's governor has said the island's roughly $72 billion in debts are "not payable" and asked for U.S. bankruptcy protection for the commonwealth, investors in those funds may take a big hit. Regards, Ted http://www.cnbc.com/id/102798839
Puerto Rico cannot file for debt restructuring under the U.S. bankruptcy code. It would take special action by Congress to allow such a bankruptcy filing.
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http://www.wsj.com/articles/puerto-rico-worries-put-focus-on-municipal-bond-insurers-1435700816
https://www.google.com#q=Puerto+Rico+Worries+Put+Focus+On+Municipal+Bond+Insurers+