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Mulvaney: No bailout for Puerto Rico bondholders

Summary:
Trump and his private equity crew will prefer the PPP institutional form going to their playbook for reconstruction finance over the Wall St. general obligation sovereign securities issuance form.They will not bail out the bondholders both to trash the appearance of their non-preferred institutional arrangements and to screw Wall St.Mulvaney says no bailout for Puerto Rico bondholders https://t.co/6h2nPWKacX pic.twitter.com/XQGU8eCfqN— Bloomberg (@business) October 4, 2017

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Trump and his private equity crew will prefer the PPP institutional form going to their playbook for reconstruction finance over the Wall St. general obligation sovereign securities issuance form.

They will not bail out the bondholders both to trash the appearance of their non-preferred institutional arrangements and to screw Wall St.

Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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