Bankruptcy in Puerto Rico

Puerto rico has come to agreements with all of their exposures where they've a actually taken losses on. They're likely overly capitalized now, maybe up to about a billion dollars. The stock's been so prrenialy undervalued that it's enormously accretive. And then you look at municipalities. I mean, this is why the situation's so different. Last year, i was terrified of municipal finances,. Just because you don't know the government's going to come in like they did.

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