Sanders Campaign Statement on Puerto Rico Facing Lawsuit by Wall Street Insurance Companies

WASHINGTON – Sen. Bernie Sanders’ Latino outreach director Arturo Carmona on Tuesday released the following statement on Puerto Rico facing first lawsuit by insurance companies over the U.S. territory’s failure to pay millions of dollars in bond payments last week:

“It is unacceptable that Wall Street vulture funds have chosen to take Puerto Rico to court instead of working out a fair deal. Puerto Rico must be given the time it needs to restructure its debt and grow its economy. Vulture funds on Wall Street must understand that they cannot profit from this crisis while Puerto Rico suffers high unemployment rates, struggles to rebuild its economy and children go hungry. Congress must act immediately to give Puerto Rico the same authority granted to every municipality in this country to restructure its debt under the supervision of a bankruptcy court.”