— The Democrats (@TheDemocrats) November 25, 2015
Bernie has his undies in a wad the because bondholders of Puerto Rican debt want to get paid (emphasis added):
Mr. Sanders said that what he termed “vulture funds” had been buying up Puerto Rico’s debt for as little as 30 cents on the dollar.
“Why should they get 100 percent of their investment when they are paying 30 to 70 percent for their bonds?” he said.
Mr. Weiss said that some debt securities were yielding 11 percent.
“Whoa!” Mr. Sanders exclaimed. “They are receiving 11 percent and children in Puerto Rico are going hungry. That, for me, is not an equation that works.”
Let’s put aside the fact that a lot of Puerto Rican kids are fat (the medical definition for obesity is, “a condition that is characterized by excessive accumulation and storage of fat in the body and that in an adult is typically indicated by a body mass index of 30 or greater”),
recent studies that show rates of childhood obesity on the island running anywhere from 24% to 30%. That compares to an average of 17% across the US, according to the Centers for Disease Control and Prevention.
Perhaps Bernie’s a believer in Fidel Castro’s 1985 call for all Latin American countries to repudiate debt, but Steven Hayward sees it as a sign of THE BOTTOMLESS ECONOMIC IGNORANCE OF BERNIE SANDERS,
Where to begin? “Why should they get 100 percent of their investment when they are paying 30 to 70 percent on their bonds?” Well, a fellow named Alexander Hamilton explained that once, after “speculators” had bought up much of the debt issued by the Continental Congress and U.S. government under the Articles of Confederation, often for pennies on the dollar. Hamilton pointed out that if the U.S. didn’t honor the debt, no one would ever lend money to the U.S. again. “Full faith and credit” isn’t worth much if lenders think you won’t honor your debts.
Sanders objects that some investors are “receiving 11 percent” while children are going hungry. Actually investors won’t receive anything if Puerto Rico defaults. More likely they’ll receive market rates of return if the debt is restructured, which makes Puerto Rico bonds a normal investment. But what about the widows and orphans and union pension funds that bought Puerto Rico bonds at full face value (and a lower coupon rate)? Does Mr. Sanders care about them? Or should they be screwed just to satisfy Bernie Sanders’s lust to punish Wall Street?
Of course, Fidel Castro’s 1985 call for all Latin American countries to repudiate debt and bottomless economic ignorance are not mutually exclusive, especially for those looking for good soundbites.
Nancy and Joe on abortion? Anything but Catholic.
Read my article here.
Carly Fiorina is especially being battered by these “misleading’ claims horseshit, because she gave such a riveting accounting of the videos, daring people to watch them.
Well, the media is very insistent that you not do that. That’s why they tend not to run the tapes when they claim they’re misleading — the public would see the media’s claims are bullshit.
Well, Fiorina’s PAC is running them in their response to these bullshit claims.
CONTENT WARNING — contains the upsetting footage the media doesn’t want you to see.
Trump had asked, “Look at that face. Would anyone vote for that? Can you imagine that, the face of our next president!?” The Fiorina campaign’s answer was a most resounding “YES.”
Read my article, Carly 1, Trump 0.
Jonathan Katz reports,
The Clintons’ Haiti Screw-Up, As Told By Hillary’s Emails
The family still doesn’t know how to wield its own power.
As the latest release of Hillary Clinton’s personal emails by the U.S. State Department Monday revealed, that perception was not an accident. “We waged a very successful campaign against the negative stories concerning our involvement in Haiti,” Judith McHale, the under-secretary of state for public diplomacy and public affairs, wrote on February 26, 2010. A few weeks before, the public affairs chief had emailed newspaper quotations praising U.S. efforts in Haiti to Secretary Clinton with the note “Our Posts at work.” Clinton applauded. “That’s the result of your leadership and a new model of engagement w our own people,” she replied. “Onward!”
But one person even closer to the secretary of state was singing a different tune—very, very quietly. On February 22, after a four-day visit to the quake zone, Chelsea Clinton authored a seven-page memo which she addressed to “Dad, Mom,” and copied their chief aides. That informal report tells a continuing story of the unique brands of power and intelligence wielded by the Clinton family in Haiti and around the world—and of the uniquely Clinton ways they often undermine themselves.
Chelsea recognized that
disaster survivors are best positioned to take charge of their own recovery, yet often get pushed aside by outside authorities who think, wrongly, that they know better.
Which is quite obvious to anyone who has suffered through a disaster; however, the Clinton’s record on Haiti is awful. Here’s a sample:
Clinton donor defaulted on $10 million federal loan
A Clinton donor was granted a $10 million federal loan for a Haiti house-building scam around the day his lobbyist was in contact with Hillary Clinton about the project, emails released by the State Department show.Lobbyist Jonathan Mantz, who served as Clinton’s 2008 finance director, reached out to Clinton with details about his client Claudio Osorio’s Haiti house-building efforts in January 2010. The Overseas Private Investment Corporation, a federal agency that works closely with the State Department, was in the process of approving a $10 million loan for Osorio’s company InnoVida around the same time.
InnoVida later defaulted on the loan and the houses were never built. Osorio, who has contributed to both the Clinton Foundation and Hillary Clinton’s 2008 campaign, is currently serving 12 years in federal prison on fraud charges related to the loan.
In interviews with The Washington Post, both Rodham and the chief executive of Delaware-based VCS Mining said they were introduced at a meeting of the Clinton Global Initiative — an offshoot of the Clinton Foundation that critics have long alleged invites a blurring of its charitable mission with the business interests of Bill and Hillary Clinton and their corporate donors.
After which, Tony Rodman was appointment to the VCS advisory board.
In December 2012, VCS won one of the first two gold-mining permits the Haitian government had issued in more than 50 years. The project was immediately slammed by members of the Haitian Senate, who called it a potential environmental disaster and “a waste of resources.” The backlash caused the government to put the permits on hold.
Hillary Clinton’s Scandalous Conduct in Haiti: Charity Begins At Home. Another example in a continuing lineup of scandals that make Hillary Clinton toxic and unfit to be considered for the presidency of the United States.
Roughly half of the $1.14 billion that the U.S. government allocated to help Haiti recover from the 2010 earthquake has gone to wasteful projects with the single largest chunk—$170.3 million—going to a failed port and power plant adventure heavily promoted by Bill Clinton and the State Department under the leadership if [sic] his beloved wife.
In other Clinton news,
— Stephen Miller (@redsteeze) September 1, 2015