#HedgePapers No. 20 – New York City’s Public Pension Vultures In Puerto Rico
21 Sep 2015
Hedge Funds Preying on Puerto Rico Manage Over $550 Million in NYCERS Funds
Puerto Rico’s 3.5 million residents face frightening austerity measures in an economic crisis that is unfolding rapidly.
Hedge funds have been buying up a large portion of the island’s debt, sometimes for pennies on the dollar. These hedge funds are betting on big profits if Puerto Rico is not permitted to declare bankruptcy or refinance its $72 billion debt and is forced to repay all creditors in full.... Read More