Comment on White House walks back Trump's Puerto Rico comments as Wall Street reels

White House walks back Trump's Puerto Rico comments as Wall Street reels

NEW YORK — 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.

 

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