Description: It all goes back to 1917. Congress passed a law that year making Puerto Ricans United States citizens. That same law, still on the books today, empowered the island to raise money by issuing tax-exempt bonds.

Source: NYTimes.com

Date: May 05, 2017

Link: https://www.nytimes.com/2017/05/05/business/dealbook/puerto-rico-debt.html?ref=dealbook

Questions for discussion:

• Summarize the reasons for the current financial crisis.
• How should the crisis be handle?
• How can it be prevented in the future?