Trump Lies To Geraldo's Face About Wiping Out Puerto Rico's Debt
October 5, 2017
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4:04Now PlayingTrump Lies To Geraldo's Face About Wiping Out Puerto Rico's Debt
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as posted by the channelIn this Majority Report clip, we discuss Donald Trump totally great and completely normal trip to Puerto Rico which ended in Trump seeming very presidential. Yeah...not really. Here, he talks to Geraldo Rivera about reeling in Wall Street's stranglehold on Puerto Rico. Maybe.
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---On Tuesday night, President Donald Trump casually told Geraldo Rivera on Fox News that the United States would have to wipe out $75 billion in debt owed by Puerto Rico to bondholders around the world.
Wall Street promptly freaked out, sending Puerto Rican bonds into a tailspin and leading the White House to move swiftly to clean up Trump's seemingly offhand remarks.
On Wednesday, the Trump administration indicated it has no current plans to take the unprecedented, politically dangerous and probably illegal step of wiping out the owners of Puerto Rico's bonds in the wake of Hurricane Maria's devastation. Trump’s own budget chief quickly walked the president’s comments back.
“I wouldn’t take it word for word with that,” OMB Director Mick Mulvaney said on CNN. “We are not going to deal right now with those fundamental difficulties that Puerto Rico had before the storm.” ---
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