Creator of hit Broadway musical ‘Hamilton’ Lin-Manuel Miranda, made a musical plea on behalf of Puerto Rico when he visited ‘Last Week Tonight with John Oliver.’ The Pulitzer-prize winning composer addressed Congress last month, pleading for time to allow the territory to restructure the $72 billion debt, which is due May first.
Puerto Rico is laboring under a unique loophole, which prevents the territory from filing chapter 9 to restructure. The causes are many, but good old American greed is at the heart..In oh, so many ways. For now, 89 thousand people have fled to the mainland, and there is 45% poverty among those who remain. Schools and hospitals are falling like dominoes, doctors are leaving and the Zika virus has landed – it’s bad!
The good news is, Congress is that considering a bipartisan bill (H.R. 4900) to give Puerto Rico some breathing room and time to negotiate with creditors.
The bad news is that ads funded by dark money (or hedge fund interests) claim falsely that Puerto Rico is looking for a BAILOUT riding on the backs of savers and seniors. Someone with a financial interest has spent around $2 million on the ads.
Sometimes it’s good to bribe Congress. Miranda enticed lawmakers by offering tickets to see his hit show “Hamilton” saying “I know a guy.” As John Oliver commented, “It’s easier to get a meerkat into Harvard Law School than to lay hands on those tickets!”