Taking Trump Seriously, Not Literally on Puerto Rico

Money Talking | Oct 6, 2017

Nearly two weeks after Hurricane Maria, Puerto Ricans are still struggle with a lack of water, power and food.

Looking for ways to help, President Trump had a suggestion that caused a lot of unhappiness on Wall Street: wipe out the island's more than $70 billion in debt.

According to William D. Cohan a journalist who wrote about the island's debt for Vanity Fair, this type of financial crisis is especially difficult. "There's no cash flow, so there's nothing really to reorganize around," said Cohan, "negotiations are continuing but it's going to be really ugly and painful."

This week on Money Talking, Charlie Herman talks with Cohan and Sheelah Kolhatkar, a staff writer at The New Yorker, about the state of Puerto Rico’s economy before and after Hurricane Maria and what it means for rebuilding on the island.

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