Articles Tagged with Debt Crisis

Promises of safe bond investments result in lost nest eggs

High returns and tax-free income and a government that could not default on its debt. If you think that sounds like a pretty sound investment, so did many who bought Puerto Rico bonds and leveraged bond funds sold by Swiss bank UBS.

According to a recent article in the New York Times, “Puerto Rico officials now say the government cannot afford to pay its $72 million in debt.” And, for the first time since the island became a United States protectorate 117 years ago, the government defaulted on a bond payment.