We are a commune of inquiring, skeptical, politically centrist, capitalist, anglophile, traditionalist New England Yankee humans, humanoids, and animals with many interests beyond and above politics. Each of us has had a high-school education (or GED), but all had ADD so didn't pay attention very well, especially the dogs. Each one of us does "try my best to be just like I am," and none of us enjoys working for others, including for Maggie, from whom we receive neither a nickel nor a dime. Freedom from nags, cranks, government, do-gooders, control-freaks and idiots is all that we ask for.
Most of us here are in favor of Puerto Rican independence. US Territories are an obsolete concept. Evil colonialism. Blame Columbus, and let PR free. To help erase Columbus more completely, let's ban the colonial Spanish language from Latin America as soon as possible. It's a painful remnant of oppression.
Make bankruptcy possible but do not have US taxpayers make their debt payments. There are investors who only paid 40% on the dollar for the debt...maybe a bankruptcy judge will settle the whole debt for 20% of the original price. Lender and buyer beware. Connecticut cities next?
First hire some forensic accountants and have a legal investigation into where the money went. It may be possible to claw back some of that money that no doubt was stolen or fraudulently distributed.
Second, establish a honest judiciary system and a decent constitution that provides checks and balances.
Third put some/all of the dishonest politicians in jail.
Forth clean up the regulatory swamp and the union thugs and allow interested companies to build hotels and attractions for tourists.
This would make great sense and restore a measure of trust to the Puerto Rican government and it would provide jobs and a booming economy for the people. But I assume that our government will instead just drop more money down that stinking rathole that is the Puerto Rican government and they will still be wallowing in their welfare lifestyle for another 100 years or so.
Puerto Rice is a third-world "culture", just like the rest of Central and South America. They are at least not fourth-world like Haiti and Detroit and New Orleans and the District of Corruption, but there is no way to clean out the sewage without cleaning out that "culture".
That CEO of the local company, Jorge Rodriguez, should be the receiver appointed in BK. Let him run the place for a couple of years.