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A dark money group’s misleading claim that the Puerto Rico debt plan is a ‘bailout’
Ultimately, the ad misleads the public to make it seem as if the legislation would only hurt individual bondholders. People like Garcia likely will get a lower return on their investment after the restructuring, but such investors are a much smaller portion of the holders than 80 percent. Moreover delaying a restructuring — or resorting to a default — likely leads to worse circumstances for ordinary bondholders....Two Pinocchios
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