Wednesday, October 4, 2017

THIS COULD MEAN MAJOR LOSSES ON WALL STREET: Trump Says Puerto Rico's Debt Will Have to be Wiped Out



If this is a serious policy statement from President Trump, then there are going to be some major losses for some on Wall Street

In an interview with Fox News, Trump said that Puerto Rico's debt will have to wiped out.

"They owe a lot of money to your friends on Wall Street and we're going to have to wipe that out. You're going to say
goodbye to that, I don't know if it's Goldman Sachs but whoever it is you can wave goodbye to that," Trump said on Tuesday in an interview with Fox News, according to a Reuters report.

Puerto Rican government debt amounts to $73 billion.

More than 850 bond mutual funds own Puerto Rican debt, according to data compiled by Morningstar. Some of the biggest holders include mutual funds run by household names like OppenheimerFunds, Franklin Templeton, Goldman Sachs, BlackRock and T. Rowe Price.

The full list of creditors is:

Angelo, Gordon & Co
Appaloosa Management 
Archview Investment Group 
Ambac
Aristeia Capital 
Arrowgrass Capital Partnersponse
Assured Guaranty
Aurelius Capital Management 
Avenue Capital Group
 BlackRock
BlueMountain Capital Management 
Brigage Capital Management 
Candlewood Investment Group
Canyon Capital Partners
Carmel Asset Management
Centerbridge Partners 
Cyrus Capital Partners 
Citibank 
D.E. Shaw 
DoubleLine Capital 
Farallon Capital Management 
FGIC
Fir Tree Partners 
Fortress Investment Group e
Franklin Templeton Investment Co. 
Fundamental Advisors
Golden Tree Asset Management
Goldman Sachs – .
Highbridge Capital Management 
Knighthead Capital Management f
Mackay Shields 
Maglan Capital 
Marathon Asset Management
MatlinPatterson Global Advisors
MBIA
Meehan Combs
Monarch Alternative Capital
Och-Ziff Management 
Oppenheimer Funds Co. 
Perry Capital Management 
Principal Global 
Redwood Capital Management
Scotiabank.
Sound Point Capital Management 
Stone Lion Capital Partners 
Syncora 
T. Rowe Price
Taconic Capital Partners 
Tilden Park Capital Management
VĂ¥rde Partners 
Whitebox Advisors
-RW

SOURCES:

 CNBC

The Intercept))

4 comments:

  1. "You're going to have to waive goodbye to that" should be Trump's new slogan. Applicable to, ya know, intervening a little less militarily overseaa, Olosercare repeal, tax cuts, the silly border wall, and every other BS campaign promise.

    ReplyDelete
    Replies
    1. Too long. "Wave goodbye to that!" would work. Slogans must be concise.

      Btw, when you are asked for a unique user name, you don't guid around.

      Delete
  2. Is it wrong that Im laughing at this possibility?

    ReplyDelete
    Replies
    1. Priceless is a term that suddenly comes to mind

      Delete