I’m against it, but at least there will be a control board, and at least in theory won’t spend federal money:
The bill, a rare moment of bipartisan cooperation in an election year, offers a path for the island to write down its debt similar to bankruptcy while forcing its government to submit financial statements and budget blueprints to a federal oversight board. The legislation doesn’t spend any federal money, a critical ingredient to win Republican support.
The big questions now are whether Mr. Ryan can keep conservative lawmakers from rebelling against the compromise, and if it passes the House, whether and when the Senate might act.
Sing it, Groucho!