If the Federal Reserve could bail out Wall Street, it can help the 3.5 million American citizens in Puerto Rico improve its economy and lift its children out of poverty. Today, I am calling on the Fed to use its emergency authority under Section 13(3) of the Federal Reserve Act to pave the way for an orderly restructuring of Puerto Ricos public debt.
Bernie Sanders, speech in Puerto Rico, May 16, 2016
Ahead of the June 5 primary in Puerto Rico, Sanders is pushing his plan to relieve the island territory of its crippling debt. With House legislation in limbo, Sanders is calling on the Federal Reserve to take action similar to what it did for the big banks during the 2008 financial crisis. Sanders says he plans to…
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