JOURNAL ARTICLE
Trump Ally Loomer Drags Puerto Rico's Bankruptcy Battle Into Far-Right Spotlight.
Published In: Bloomberg.com, 2025. P. N.PAG 1 of 3
Database: Business Source Ultimate 2 of 3
Authored By: Kaske, Michelle; Wyss, Jim; Woodhouse, Skylar 3 of 3
Abstract
The article focuses on Laura Loomer's influence on the ongoing financial crisis in Puerto Rico, particularly regarding the oversight board managing the territory's debt restructuring. Loomer has criticized the board's costly operations, which have incurred approximately $2 billion in fees, and her rhetoric has coincided with the Trump administration's dismissal of five board members. This board, known as "la Junta," has been pivotal in managing Puerto Rico's bankruptcy, which is the most expensive municipal bankruptcy in U.S. history, and is currently overseeing the restructuring of $10 billion in debt owed by the Puerto Rico Electric Power Authority (Prepa). The article highlights concerns from local lawmakers and activists about the potential for a board more favorable to bondholders, which could exacerbate the financial burden on Puerto Rican residents. [Extracted from the article]
Additional Information
- Source:Bloomberg.com. 2025/08, pN.PAG
- Document Type:Article
- Subject Area:Politics and Government
- Publication Date:2025
- Accession Number:187168137
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