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Backed by CT lawmakers, new law shields Puerto Rico from creditor lawsuits

U.S. Sen. Richard Blumenthal discusses a new law to shield Puerto Rico as it defaults on its debt.

WASHINGTON — Puerto Rico announced Friday it will default on nearly $1 billion of its debt, but legislation backed by Connecticut lawmakers and signed by President Barack Obama this week puts a halt to legal battles that would stem from the island’s inability to pay for a growing share of its debt. Continue Reading →

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As Congress balks, Puerto Rico on brink of financial meltdown

South view of the Puerto Rico Capitol in San Juan

WASHINGTON – As the hours tick down toward Puerto Rico’s default on a massive debt payment Sunday, Congress has so far rejected solutions offered by Connecticut lawmakers and some Republican leaders to save the commonwealth from economic ruin. Continue Reading →

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Insurance mergers, defense bill, Puerto Rican debt crisis among week’s top issues

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Democratic presidential candidate Hillary Clinton expressed “serious concerns” about the planned Aetna-Humana and Anthem-Cigna mergers this week; President Obama vetoed a defense appropriations bill; and the White House released a plan to help Puerto Rico deal with a severe economic crisis. Continue Reading →

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Tremors from Puerto Rican debt crisis likely to be felt in CT

South view of the Puerto Rico Capitol in San Juan

WASHINGTON – Connecticut will feel fallout from Puerto Rico’s debt crisis, analysts say, rippling through the state’s financial sector and opening the door to new migration if Puerto Ricans flee the island’s deteriorating economy and austerity measures. Continue Reading →

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