Hedge funds bought up the island’s high-interest bonds at a discount, confident because the territory couldn’t declare bankruptcy. This week, it essentially did.By MICHAEL CORKERY and MARY WILLIAMS WALSH from NYT
Business Day
Message of Puerto Rico Debt Crisis: Easy Bets Sometimes Lose
Hedge funds bought up the island’s high-interest bonds at a discount, confident because the territory couldn’t declare bankruptcy. This week, it essentially did.By MICHAEL CORKERY and MARY WILLIAMS WALSH from NYT
Business Day
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