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Puerto Rico's New Fiscal Plan: Certain Pain, Uncertain Gain

Lara Merling Philadelphia Inquirer; CEPR
Puerto Rico was already in trouble after suffering a “lost decade” without economic growth after 2005, leading to a default on its public debt and mass migration from the island. That was before Hurricane Maria.

Puerto Rico: Cruelest Storm; Trump Political Disaster; AFL-CIO Labor Solidarity

Puerto Rico has been hit by a triple disaster - Hurricane Maria; outrageous debt owed to vulture hedge funds; racist, colonial indifference by the Trump Administration. Puerto Ricans - on the island, and in the U.S. have called for the lifting of the Jones Act, as it applies to Puerto Rico; canceling the debt; and abolishing PROMESA. Yesterday a solidarity flight of medical and emergency organized by AFL-CIO unions brought needed supplies and aid workers to the island.

The Mooch, the Donald, and the Goldmanization of Government

Richard Eskow Our Future
It’s somehow fitting that a hedge fund investor who does no investing has now become the spokesman for a president who appears to do very little actual governing. What Scaramucci does very well, however, is promote Scaramucci. The Mooch’s antics make him Trump’s ideal Mini-Me. He’s another empty-hatted showboater, loudly distracting the audience from the pickpockets moving among them.

Tax Dodge: The Carried Interest Loophole

Why is Trump breaking his promise on carried interest? The White House is full of bankers and hedge fund managers who, over the last decade, have collectively dodged nearly $180 billion in taxes!

Who Is Responsible for Puerto Rico's Debt?

Ed Morales The Nation
There's evidence some of it is illegal - and activists agree that Washington's colonial control over the island's economy helped create the crisis. We are urging members of Congress to put the people of Puerto Rico first and oppose H.R. 5278 as currently written, said SEIU 32BJ President Hector Figueroa. We need a real solution and Congress must get back to work immediately to provide a path forward that allows Puerto Rico to negotiate a feasible debt restructuring plan.

Universities Are Becoming Billion-Dollar Hedge Funds With Schools Attached

Astra Taylor The Nation
It’s not just universities with eating clubs and legacies that are getting into the game. Many public universities are also doing so, in part because state support for education has been cut, but also to compete with richer schools by rapidly increasing their more limited wealth.
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