puerto rico's not greece. puerto rico's not a foreign country. >> larson: next on pbs newshour weekend. >> pbs newshour weekend is made possible by: corporate funding is provided by mutual of america-- designing customized individual and group retirement products. that's why we are your retirement company. additional support is provided by: and by the corporation for public broadcasting and by contributions to your pbs station from viewers like you. thank you. from the tisch wnet studios in lincoln center in new york, john larson. >> larson: good evening. thanks for joining us. i'm john larson in for hari sreenivasan. the presidents of france and of the united states are praising three americans who subdued a gunman who attempted to carry out a mass shooting on a passenger train heading toward paris. the high speed thalys train, going from amsterdam to paris last night, had 554 passengers on board. among them were three american friends in their early 20s: spencer stone, anthony sadler, and alek skarlatos, two

crisis in puerto rico. currenciesa look at and see how the dollar is faring. a little gathering of strength -- 1.09the euro, point and the bloomberg down half -- .51% all the way to the beginning of march. let's get a look at some of the top stories at this hour. dealmaking among health-care companies, today, one of the deals is accepted and a larger one is currently being turned down. team health holdings agreed to by ipc health care, all cash deal worth about $1.6 billion. it represents ipc's closing share price yesterday. teen health says of the acquisition will help the ability to staff hospitals and other medical facilities with qualified doctors. the other deal, $30 billion offer by shire is being ignored. they made an unsolicited bid hoping to great a biotech company that focuses on their diseases. shire says it offers a premium targetand values the company's stock at over $45 a share, but no deal inside. baxalta won't even talk about the proposal. betty: founder of greenlight capital says the month

however, the unique colonial status of puerto rico is largely to blame for the situation because puerto rico has not been allowed to develop a self-sustaining economy. it's been completely attached to the u.s. economy. >> let me get more specific. could the administrations have done more on their own -- cut spending, better financial management -- to have maybe not prevented this, but minimized it? >> i think so. but at the same time, there have been attempts of past administrations to do something, and this administration is trying to do something right now, but it's completely unavoidable that puerto rico had defaulted, and it will continue not to meet their responsibility. so we need to help the island. >> last week's missed payment is no surprise. we knew it was coming, and the governor weeks ago said, "we can't pay," and this is the first of what could be several nonpayments. correct? >> and i think that there is the best intention from the current administration to try to resolve and find a solution for this, but, however, we need to have the federal government to intervene, and t

the problem is, puerto rico cannot do that.it is amazing to me how so many journalists are reporting this reality that unlike states in the united states come a puerto rico does not have the ability to have its municipalities or its public corporations reorganize under aggressive protection. no one questions why this is so. but say it is anomaly. a point i tried to make in a column today, this is part of a 117-year relationship of colonialism. this is part of the colonial status of puerto rico. even the marxist historian richard wolf this week claimed puerto rico was a semi-colony. no, it is not. puerto rico is a colony of the united states. i pointed to the decisions of the supreme court that ratified this colonial situation rendered in the early 1900s called the insular cases when puerto rico had just been acquired after the spanish-american war. in a 54 decision back then, the same five judges, by the way, the decided plessy versus ferguson, the same five judge conservative majority back at the turn-of-the-century said in th

>>reporter: puerto rico became a u.s. territory in 1898 and since then, congress has given and taken away. in the 1970s, the u.s. government helped attract business to puerto rico leading to a booming manufacturing sector. particularly pharmaceutical companies. 20 years later, congress began phasing out the tax breaks and they ended in 2006. >> once that happened, manufacturing significantly diminished in puerto rico. >>reporter: now there are 40 plants. then there's something called the jones act dating to 1920. it requires products from one u.s. port to another to be carried on u.s. ships by u.s. crews. that drives up prices. >> from congress's perspective, it benefits the ship-building industry which has parties involved from across the u.s. from every district across the u.s. and so they would love to help out puerto rico and at the same time they have a strong lobby in the industry to counter that. >>reporter: those who buy bonds in puerto rico don't have to pay federal, state, or local taxes on the bond. >> they wer

quality ingredients from puerto rico is not easy. on this lush tropical island, more than 85% of what people eat is imported. seafood, meats, and staples like rice and beans and coffee mostly come from the united states, neighboring latin american countries and even china. the main reason: puerto rico's agricultural sector is dismal, representing less than 1% of the island's gross domestic product. >> reporter: carlos reyes- albino, one of the co-owners of the restaurant, says the island's dependence on imports makes it dangerously vulnerable to any unforeseen event threatening its food supply. >> reporter: in fact, puerto rico's agriculture secretary warns the territory only has a one-month food supply on hand. so the government has implemented a plan to re-develop the island's agricultural sector, providing farmers with subsidies and new equipment. already, in the last two years, puerto rico has seen a 25% increase in agriculture revenues and 6,500 new jobs. the restaurant el departamento de la comida is also trying to engage more

matt: puerto rico defaults on it debt. we discussed the road ahead and hear from their sole member of congress. mark: once a luxury food, lobster hits the mainstream and you may not be able to afford it that much longer. good day. from bloomberg world headquarters in new york, i am mark crumpton, here with matt miller. let's look at the markets. apple is definitely waiting on the nasdaq. we see the dow and the s&p as well. of course, apple will weigh on any index it is listed on. it is naturally a very heavy weight on the nasdaq. swingingones back-and-forth between gains and losses. the same is true of the s&p 500, down 3/10 of 1%. taking a look at treasuries, we see some selling on the treasuries market, the 10-year yield going up. the yield on the 30-year going up slightly, 2.88%. about oil.alk this is fascinating. we finally see a green arrow here. holding well under $50 -- actually, i am thinking of rent crude. 473ork crude is down at -- and rent -- it is just under $50 a barrel for brent crude. mark: time for our top

tell us, how did puerto rico get into this mess? >> infrastructures having a huge problem, as we have heard. a lot of well-educated people are leaving the country. those are just a few factors. similar to greece, which is stuck to the euro. puerto rico is stuck to the u.s. dollar which is less competitive than other caribbean nations. those are just some of the problems the country is facing. brent: and what happens now? does a troika come in and negotiations go on for years? reporter: if at some point the u.s. congress might be willing to renegotiate some of the debt load, but if you look at u.s. retirement funds, about half of those are invested in puerto rican bonds. so retirees in the united states might see some losses, and that might be some bargaining power for puerto rico to renegotiate some of the debt. brent: how important is puerto rico to the united states? reporter: it is important to the degree that a lot of retirement lines are invested in that island. it has been very attractive to buy puerto rican bonds, partly beca

it was in the constitution of puerto rico, you cannot stop paying the bonds. >> reporter: but now puerto rico claims it cannot pay at least some of the $72 billion owed, more debt per capita than any state. for all intents and purposes is puerto rico bankrupt right now? >> i believe puerto rico is bankrupt. >> reporter: university of puerto rico economist orlando sotomayor says wall street was just as eager to lend the money as government leaders here were to borrow it. did the puerto rican government borrow too much money with little thought to paying it back? >> without any question, yes. the money was available, they took it, and they were happy to get it. i'm sure in their minds, they will be saying, "i'm going to benefit from the money that i'll be able to spend today, and the next governor will have to pay the debt." >> reporter: kick the can down the road. >> that's right, we are experts. >> reporter: puerto rico's status as a territory, not a state, also played a role in the island borrowing so much according to pedro pierluisi, puerto rico's resident commissioner and nonvoting r

puerto rico has $72 billion in debt. u.s. worry because more than half of americans find on puerto rican guy. that is all of us according to morningstar. one resident puerto rico tells fox business is confident the government will work out a deal with bondholders. >> you want to renegotiate and see what you can do with them. you end up to keep going and refinancings. the service is cheap, water stays on. everybody keeps going out friday night party and as business as usual. nicole: the individuals, hedge funds trying to get a haircut on the debt owed to adam shapiro is there in san juan. all of us the latest development throughout the day. dagen: the price of oil falling 4% yesterday to just over $45 a barrel, the biggest drop in a month. we saw prices back in march. how much lower can they go. although finding stability of 71 cents, 4589. many are warning that oil is not over in part because of record oil production in the u.s. and times might not go fast enough to soak up all the oil out there and still being produced. let'

tough times for puerto rico.d nation defaulted on a $55 billion bond payment and is morning that that is just the beginning. some distressed investors are betting the tourism industry can save it from a collapse. joining us now is kate smith. thanks for coming on the program. about the prospects for increased tourism in puerto rico. i know recently they have places to go.r everyone wants to go to cuba now. who is going to puerto rico? >> that is really on the minds of the people listening to what the government is saying. in puerto rico, you have a former imf official, current advisor to the island, and she says tourism will be the saving grace for puerto rico. but if you look at some other 164th outt is ranked of 184 countries for long-term growth potential. last year they ranked below cuba. before cuba was even open to u.s. tourism, exports, car division to gdp. to answer your question, it depends on who you ask. matt: we see investors going in there. john paulson got in there. you are seeing some distressed in

vamos a darle a puerto rico un trato igual y justo.de mujeres colombianas por militares venezolanos en la frontera. ♪ ♪ >>un video mostrÓ soldado israelÍ peleando con un menor y mujeres en una manifestaciÓn en cisjordaniainicializar las redes sociales a ser visto 1 millÓn de veces en facebook. la crÍtica de la gente para tratar con mucha dureza los manifestantes palestinos con el >> el papa francisco dice que hay que frenar los crimenes contra los migrantes. >>cambiando de tema no cabe duda de que si nace con el espÍritu emprendedor entramos a feliz de 10 aÑos que se ha convertido en un empresario. fÉlix castillo con la ayuda de su madre comercializa la receta de fallidas de su abuelo. desde la elaboraciÓn, enfatizado en las ventas. >> cuantas galletas haces al dÍa y cuanto tiempo? >>. > mis medallistas en tres horas, >> la idea fue luego de que fallecipo mi mampna. quine no le gusta la comida mexicana? >> participa en todoas la etpas del rpoceso. >el no solo conicna sin que esta en todo, incluso habla con los clienters. >> geacias a s

never dreaming that the next day puerto rico would would default. joe: we are talking about the bond payments, etc.. but what about the weird real o rican economy? is learning that can be done to turn it around? david yes. repeal the jones act. the jones act is a shipping protection, union led peace from the united states. it cost a lot of hurt puerto rico. joe: can you explain specifically? david: carriage in the united states has to be an american-made ship. ip. the rest of the world can do it in a much lower price. puerto rico, as an american territory has to abide by american law. just to quantify, if you're looking it important to puerto rico in lasted about $20 billion at how much cheaper could that be if they did not have this shipping tax? david: millions, not millions, and enough to make a difference . when you look at the structure of puerto rico come you say their internal governance is really missing the reforms. the legislature will not make them. the economists a year ago for this front cover that said the grease of the caribbean on th

we are talking about puerto rico and its creditors.lted on a $58 million payment on its public finance corporation bond. rico at risk is the puerto power authority. erik schatzker is with us. you have tim coleman from blackstone on with you today. what are we going to find out? he is head of the restructuring group and black hawk is advising, -- blackrock is advising. what we are going to be talking about with tim is the difference between the moral obligation bonds, that is what puerto rico defaulted on this weekend, and bonds like kofi know bonds, which are backed by sales tax revenue. you cannot look at puerto rico take a dead monolith. each of those different bonds is going to be handled presumably in a different way. says weernor padilla cannot pay our $72 million in debt, he means it. how that gets applied to different bonds, it is going to very. brendan: i had to take into a textbook to find out what a moral obligation bond is. it is a, no, seriously, we promise this time. erik: it is distinct from a general obligation bond but

the major trouble in puerto rico. the commonwealth defaulted on some of the deaths over the weekend. nicole petallides following that story right now. not an expected at the beginning. nicole: is long, difficult situation. now we talk about the same types of things. austerity for puerto rico. they have tough payments and they're not making them. puerto rico managed and make a $169 million payment on friday but did not make another $58 million on payment over the weekend. the office of puerto rico's governor saying you just don't have the money. the governor says the commonwealth cannot pay roughly $72 billion that it does. efforts are underway to come up with a plan in order to restructure puerto rico's obligation and overhaul the economy, the crisis in the commonwealth could affect the united states as well. we talk about the hedge fund and according to morningstar more than half of american bond fund own puerto rico data. they have further payments due, talking about austerity, talking about wage and cutting benefit

we'll tell you about the problems plaguing puerto rico's economy. ♪ >>> welcome back.re watching al jazeera, let's recap our headlines now. 2015 is turning out to be the deadliest year on record for migrants crossing the mediterranean. the international organization for migration says more than 2,000 people have died so far this year. >>> the corruption case against south african opposition leader is being thrown out of court. he already has a hate-speech conviction. he was facing charges of racketeering, fraud, corruption and money laundering. >>> myanmar's government is calling for international help to assist about 200,000 people affected by flooding. it is the worst flooding in the country for decades. >>> the u.n. envoy to yemen says his plan to end the four-month conflict is starting to be accepted by warring factions. anti-houthi fighters are advancing with the support of saudi-lead air strikes. yemen's biggest military base has now been recaptured. our correspondent reports. >> reporter: yemen's largest military base is now under the control of pro-government f

pero una supuesta vÍctima lo describe como mucho mÁs, recordemos el estudiante acusado de fraude en puerto, hoy tenemos la historia en exclusiva de una mujer en filadelfia que asegura haber caÍdo en su engaÑo y no sÓlo le costó dinero sino tiempo valioso. >> yo y mi esposo hemos estado en tratamiento para poder tener hijos y por razones de la vida, de nuestro padre celestial, se no sdio. -no se nos dio. mas de 10 a 12 cirugÍas para tratar de ver con el problema, lo que mÁs nos duele es que esta persona sabÍa de todo el proceso que yo estaba pasando. periodista: esta persona es josÉ nieves madero, quien conociÓ hace mÁs de cinco aÑos y hoy enfrenta cargos de fraude en puerto rico. >> yo tenÍa la esperanza de que fuera mentira. periodista: pero no es mentira, en el caso de mildred la estafa fue mÁs allá del dinero. mildred: lo que yo no puedo perdonar es que te hayas metido con. mi deseo de ser madre. yo soy cantante de mÚsica cristiana y vino para ver si yo podÍa ayudarle para una actividad. periodista: se ganÓ la confianza de esta mujer desesperada por ser madre. mildred: me pueden ayudar

. >> desde el 2006 tuve la crisis porque se acabÓ el incentivo que tenÍa puerto rico.cciÓn 936 que creaba oportunidades para que corporaciones vinieron a puerto rico a crear trabajo. >> insiste que el gobierno les debe permitir a puerto rico a probar la bancarrota para ciertas agencias y tambiÉn restructurar su deuda. los 73 millones de dÓlares que vive la isla ha provocado un Índice de desempleo de 12.6 por ciento y obligado a temas boricuas talentosos emigran a estados unidos. >> van a irse cientos de miles, mÁs de puertorriqueÑo si no se resuelve la crisis. el gobierno para quien si hay muchos menos puertorriqueÑos que pueden beneficiarse. reportero: en cuanto a la inmigraciÓn se le pide a los soÑadores y sus padres que mantengan la fe ante la batalla legal que enfrenta la orden ejecutiva del presidente obama. >> pero eventualmente yo creo que vamos a ganar en la corte

to restructure that debt if puerto rico can't pay it. >> and puerto ricans and politicians have lobbiedal stat us under u.s. law. what about the political dimension to all. this if residents here can't vote does that play into this all? >> that is an important dimension here. because puerto rico doesn't have representation in congress they don't have a vote. there hasn't been a lot of interest or urgency to tackle this. one exception is there have been millions of puerto ricoensans have come to the united states and settled in florida. florida is important in the presidential election next year and puerto ricans can play a swing vote there. if you are running for president you're going to have to pay attention to this issue because puerto ricans carry important political sway. the same way we have seen with cuban-americans in past elections in miami. that's going to raise the attention and profile of this issue. >> and considering how important florida is in the u.s. presidential election and its 25 electoral votes, considering how unique this is what is the plan to pay the $72 billion

most murders in puerto rico are linked to the drug trade. since puerto rico is within the u.s. customs zone and used by organizations transporting narcotics from south america to the u.s. mainland. when i examine the level of resources that dhs and doj were dedicating to combat drug related violence in puerto rico, it was clear that the federal law enforcement footprint on the island was woefully inadequate. accordingly, i did everything within my power to change that dynamic. starting in 2012 under your predecessor, secretary napolitano, the message finally began to sink in. dhs component agencies like the coast guard, i.c.e., started to step up their games. the coast guard has massively increased the number of hours its ships and planes conduct patrols around puerto rico. i.c.e. agents -- i.c.e. arrested hundreds of violent criminals and seized vast quantities of illegal drugs and firearms. cbp assumed control of the pranl program from the air force and moved quickly to repair the radar that had been inoperative since 2011. the actions taken by dhs, in conjunction with its fe

. ♪ ♪ ilia: puerto rico enfrenta un Éxodo masivo.r a clases en un evento especial en filadelfia. estamos en vivo con el siguiente informe. reportera: nos encontramos en el centro ubicado en filadelfia donde la representante estatal de la costa estÁ distribuyendo material escolar para el regreso a clases. desde muy temprano los residentes se pusieron en lÍnea para recibir bolsos escolares. alrededor de 500 mochilas se van a regalar hoy. a dentro del bolso hay cuadernos y otras cosas para la escuela, en este evento los niÑos y los padres disfrutan de mÚsica y comida y durarÁ hasta las 8:00 de la noche. para participar del evento debe registrarse. para nuestros televidentes habrÁ una preventa comenzando a las 2:00 de la tarde. en nuestro noticiero de las 11 tendremos mÁs informaciÓn sobre este evento. fueron las noticias para univisiÓn 65. ilia: y hablando de educaciÓn, hablar inglÉs y espaÑol nos abre las puertas para oportunidades y es por eso que la educaciÓn bilingüe es importante. marÍa fernanda nos explica. marÍa fernanda: estudio

we will tell you about the problems plaguing puerto rico's economic.ng green but dirty habits are proving hard to change. ♪ >> there's a lot of work to be done. >> they need to quite talking about what should be done and do it. >> there's clearly an issue and we have to focus on how we bridge that. >> a lot of innocent lives are still being lost. you are watching al jazeera and the top stories the corruption case against opposition leader julius has been thrown out of court. the judge said the charges took too long to be brought to court and accused of receiving $400,000 from road construction projects. anti-houthi fighters recaptured yemen's biggest military base from houthi rebels at least nine houthis killed at the operation in the southern province. the british government says improved security measures are having an effect on the migrant crisis in the channel in france and migrants made 1700 attempts to try to get into the channel tunnel rail terminal on monday. u.s. secretary of state john kerry is in singapore promoting the world's largest trade

histórica boda colectiva de gays en puerto rico.ue en cuestiÓn de horas se decide si se aprueba una lamenta de viagra para mujeres. millones estÁn a la expectativa. comenzamos. ♪ ♪ ♪ ♪ >> Éste es un noticiero univisiÓn con jorge ramos y marÍa elena salinas. jorge: muy buenas noches donald trump expuso su plan migratorio es extremo al anunciar la arremete una vez mÁs en contra de mÉxico asegurando que exportarse los estados unidos delincuencia y pobreza. donald trump dice que reportarÍa todos los simientes indocumentados, eliminarÍa las Órdenes ejecutivas sobre inmigraciÓn, confiscarÍa pagos en las remesas y eliminarÍa todos los indocumentados y ademÁs llegarÍa la ciudadanía a hijos de indocumentados. lourdes tiene mÁs sobre los planes de trump. lourdes: donald trump dice que en cuatro aÑos era felicitado por ese plan migratorio que incluye un mega muro por el que mÉxico pagarÁ >> nadie se va a colar por ese muro crÉanme, dijo a la cadena nbc y aun para el gobierno es difÍcil precisar el costo de unas 1900 millas de frontera sur hay

payments and the puerto rican economy losing in the population. is there anything that can be done to turn it around? >> repeal the jones act. right away. the jones act is a shipping union-led andt is it hurts puerto rico. joe: can you explain the jones act? >> carriage on a ship has to be american-made. the rest of the world can do it at a lower price. yterritorie is u.s. and there are a number of things they could do to improve themselves. that is one. alex: how much cheaper could it be if they did not have the shipping tax? millions.s, not enough to make a difference. look at puerto rico and you say the internal governance is missing the reforms. the legislature does not make them. economists put this on the front of the cover and said it was the grease of the caribbean -- greece of the caribbean. you have a construction that does not work and you have them running out of money. things need to change and that is tough. we now have a default. that thehe last time american territory, virgin guamnds, american samoa, kua defaulted? it is a moral ob

a puerto rican debt said it was disappointed that puerto rico didn't flake full payment. >>> coming up, how many money is being poured into wine country? the numbers are eye popping. >>> a pioneer in private equity has died. jerome coleberg, one of the original architects and co-founder of kkr was 90 years old. he founded it in 1976 and became a major force when it took over rjr nabisco. though he left the firm a year before that deal was completed. the leverage buyout industry is now valued at more than $2.5 trillion. >>> an update to a story we told but in april. the ceo of gravity payments made a splash, a radical move to raise his companywide minimum wage to $70,000 over the next three years. however, today, according to a new york times report, that plan has back fired. customers with drew their business, their clients that were attracted because of the new plan haven't started paying off yet. some higher ranking employees have quit since they didn't receive raises comparable to the huge jump for entry level staff. >> we've told but the rising price of housing in silicon valley, o

ordinary puerto ricans take a hit as the country goes into default for the first time in its history. riding a different kind of wave, how this daredevil motorcyclist took his bike off-road. -road. >> beyond the verdict and on the streets. >> there's been another teenager shot and killed by the police. >> a fault lines special investigation. >> there's a general distrust of this prosecutor. >> courageous and in-depth. >> it's a target you can't get rid of. >> the untold story of what really happened in ferguson. >> they were so angry because it could have been them. >> welcome back. you're with al jazeera. i'm mary a&m nemazee. let's take you through the top stories. the u.s. and russia have pledged to help the gulf states. anti-houthi forces have taken control of military base in the south of the country of yemen. >>> president obama has pledged to cut carbon emissions in the united states. >>> more than 75 people have been killed in india where the worst damage is in the state of west bengal and manipur where disasters have happened in myanmar and heavy rain in northern vietnam have

puerto rico is about those co-issues. one is about default fall, and the other is they cannot make a payment. brendan: also they are very similar to greece. they have made their own mistakes but they are caught in a currency union that they cannot control. people leave for the u.s. tom: headline item without question, default on an agency piece from puerto rico. top headlines with vonnie quinn. vonnie: good morning. a bloomberg news poll just released shows donald trump leading the republican presidential field by a wide margin. heading into the first party televised debate this week. jeb bush is second at 10%. scott walker is third with 8%. 500 voters who identify themselves as republicans were polled. even though we are a long way from election 2016, the 17 republican presidential candidates are watching the polls closely. the debate is thursday. only the top 10 will get into the event. that will push rick perry and bobby jindal into a less visible event. opponents of president obama's climate change plan -- regulated a

poppy bush won the puerto rico republican primary that year with 59% of the vote, he won all 14 of puerto and coming off his win in the iowa caucuses that year, poppy bush had real momentum. that presidential campaign, that 1980 campaign for his dad, that really was jeb bush's first foray into national politics. he traveled the country with his dad, and as the candidate's son, that included going on the occasional run for the cameras, just to show how strong and fit poppy bush was. >> what do you think, rabbit? >> i don't know, about 24. >> 25. >> yeah, 24 or 5. i would like to pace it at about eight minutes and see how we feel. this is going to be tough. but tell them our time. this boy might not be up for it. >> 22:45. is that our best? >> that was on firm, on good track. >> we've just gotten word from abc, cbs, and nbc plus the local outlets, and said the tv cameraman have to lay aside their weapons and run. so thus establishing a rapport with the candidate, which will get a lot of inside information. >> hello, how are you? >> how are you? >> look at you. remember jebby? >> and judy. >

con el mexicano andrÉs guardado el campeÓn comenzó la liga holandesa con empate dos puertos.superar una serie de eventos que alargaron su incorporaciÓn al campeón de la liga. segÚn reportes el acuerdo serÍa por 4 millones de euros en un contrato por cuatro aÑos. el aspecto monetario retrasÓ su fichaje ya que el espaÑol pretendÍa mÁs billete por este jugador. mantÉngase informado en punto de la medianoche en contacto deportivo. ♪ ♪ julio: dormir menos de 8 horas diarias podrÍa traer serias consecuencias. ♪ ♪ julio:los jÓvenes regresaran a clases y los adolescentes que se desvelan viendo pelÍculas, hablando con novios con las redes sociales hacen un estudio. el no dormir 10 horas diarias o menos entre nueve puede causar trastornos. >> como 5 horas. >> me imagino que no soy la Única en la noche estando en mi celular entonces uno ve lo que publican las otras personas y uno no duerme. >> uno los ve con luz adentro de sus colchas y uno les dice que a dormir y tuve que tener la opciÓn que quitarles el celular. mÓnica: dormir por lo -9 horas no es una opciÓn, es una necesidad en el d

puerto rico is extremely dry.overnment has cut off water to 400,000 homes because of a severe drought. lisa stark explains the role of congress in the crisis. >>reporter: out of sight of its beautiful beaches and tourist attractions, purr purr is hurting. -- purr toe rierto ricoean -- >> there are some members on the hill who say until puerto rico cleans up its own financial mess we're not giving them money. >> easy for them to they should not be -- they have their own mess. they should ask themselves why is puerto rico in this shape? a lot has to the u.s. government helped attract business to puerto rico by offering generous tax breaks leading to a booming manufacturing sector. 20 years later, congress began phasing out the tax breaks and they ended in it so it was a lot easier to just borrow as opposed to making tough decisions. >>reporter: so the government kept borrowing and investors kept investing and now the island's debt is $1.45 billion a year. if puerto rico was a state, they could declare bankruptcy and

to we keep saying puerto rico is poised to default. not there yet but it did miss a debt payment. at what point is it in default? ra: it is more technical. they have until monday and of day. we will know tuesday whether that was not paid. puerto rican officials have indicated they are not paying the default. that is why everyone is saying it is essentially a default. mark: i spoke to you on friday about this. i said come monday, where will we be at. we get the legislature to do a last-minute appropriation, there will be at default. the conversation is shipping now to what we should be looking for next. what people are saying is we salt tim coleman talk about the defensive posture where he said porker week -- puerto rico does not need to go to bankruptcy and can pay. what you are seeing them do, the officials deciding where to pay. i think people are starting to say where is the next pace -- place they may not? scarlet: what are you looking for in terms of the many debt cap puerto rico lopez. will pay.puerto rico there areentially clawb

puerto rico is also in dire straits. ilanis 72 billion in debt and cannot make a payment on the loan. that is causing concerns for investors here in the u.s. they are joining us live from the capitol in san juan, puerto rico. >> reporter: a lot of investors and millions of retirees are holding puerto rico debt. if you have open heimer or franklin templeton call your broker and find out if those individual funds have exposure to puerto rico bonds, it is expected there will be continual default on bonds as we go forward. there was a default on 58 million because the government can't pay the debt and wants to restructure the debt with the bond holders. there is a respected lawyer who is an expert in common wealth law and he said the puerto rico government is misleading investors, this is what he told me. >> we also have to address the bull in the china shop. as structured today. it is too big for puerto rico to mote it as it was originally structure. we need to restructure but not avoid or weasel out of it and make sure we

many of puerto rico's bonds are in the hands of u.s. investors that bought them through mutual funds. >> still to come toyota drives to success with a quarterly net profit but will the chinese slow down catch up on it? we analyze the numbers, next. >>> u.s. futures point to a mixed open. no let up for apple. shares off 2% in germany after the tech giant falls into correction territory in new york and pimco under investigation for inflating returns of a popular etf. >>> record profits at toyota. beating on the bottom line in the first quarter thanks to cost savings and a weaker yen. we're joined live from tokyo. >> thanks a lot. it's been a winning formula for the last three years. inflating profits at japan's biggest employer and one of the biggest auto makers in the world. posting a 10% jump in profits to 5.2 billion u.s. dollars. this was much higher than expected and also operating profits were up 9% in the april to june quarter. also on top of the weaker yen the strength of the u.s. markets also helping the bottom line. here's what

>> reformar la ley de bancarrota para puerto rico igual que ditroit tuvo ese proceso, quizÁs puerto ricoll street journal y nbc que incluye la opiniÓn de las historias pan sobre los comentarios de donald trump sobre los mexicanos. >> recuerden que usted pueden volver a ver este programas cuando quiera de su telÉfono mÓvil o tableta, solo fue que bajar la aplicaciÓn tambiÉn nos pueden encontrar en cable o satÉlite puede ver la entrevista cuando quiera. >> al regresar un centro de inmigraciÓn obligados a varias madres detenidas a llevar madres detenidas a llevar grilletes electrÓnicos en ¿por qué es tan difícil? difícil de dejar. porque tu familia... tus amigos... y el pueblo entero quieren abrazarte para decir adiós. entonces te das cuenta que si no te escapas de ese abrazo, nunca te irás. encuentra tu próxima parada. el corolla. toyota. vayamos juntos. hola abuela!!! crest presenta ¿por qué me llamas, así? porque aca mis amiguitas dicen que si no usamos crest estas usando una pasta muy vieja. descubre su protección contra caries, mal aliento y sarro. pruébala, porque crest funciona. ♪ co

and he's been campaigning and living in puerto rico for nearly two months.he bush campaign thinks jeb is their secret weapon here. he goes everywhere on the island, talks to everyone, always in spanish, and does those things every politician does. >> his spanish is good, partly because his wife is mexican. >> what's it like being professional son of the candidate down here? >> it's not something that i would like to do the rest of my life, no. i get nervous at first. just i'm not a politician. >> and probably it is scary. because when the crowd hoots and jeers as they did that day, the nerves go to the knees. and it must be comforting to remember you are the candidate's son, not the candidate. and if dad loses, nobody will blame jeb. except perhaps jeb. linda elerbe. >> linda is such a god. she always has been. jeb bush's knees literally knocking, shaking as he stood before that crowd in puerto rico. that was february 1980. but all of jeb's nervous campaigning down there did pay off. poppy bush won the primary that year with 59% of the vote. all 14 of puerto

puerto rico's government that puerto rico's governor is now saying that it is unsustainable and that it would need a haircut. it is tricky because it is a u.s. territory. >> a first ever default for puerto rico, after warning it could not pay. the government missed a $58 million bond payment. it paid off interest of a little over $600,000. the island said it should not be considered a default, but moody's has disagreed with many u.s. pension funds invested in the territory. some u.s. citizens find themselves personally tied up in the affair as they risk losing money. in puerto rico, it is the citizens who suffer the most. much of the defaulted debt is held by regular people on the island through credit unions. over the past decade, puerto rico had been living beyond its means, continuing to overspend while its economy shrank. in all the territory is $72 billion in debt. since the island is not a country, it cannot turn to the imf for help. nor can it go bankrupt under u.s. legislation. the white house has already ruled that a bailout is default. it will sit down with creditors to res

. >> talk to me about puerto rico. you listed five reasons why the market may have extreme volatility ahead of it. we've talked little about the fed, the history, the data dependency which feeds into it. but puerto rico, you say people are underestimating the impact of that. >> absolutely. if you look at the numbers in puerto rico, it is a pretty dire situation. for example, labor force participation is not great in the united states but it is abysmal in puerto rico. bits 40%. there are some really big head winds and no big solutions. now, puerto rico in and of itself will not tank the u.s. economy. but it could create something of a crisis of confidence, particularly as investors start looking at other areas of the united states where there is some weakness, an enormous amount of pension burdens. a lot of issues that are affecting puerto rico are affecting other states and municipalities but some smaller ways. >> let's move away from the question of history and so forth. back to the question of fundamentals of corpora

rico en los Últimos 15 aÑos, esas 500.000 personas, pagaban el 50% de los impuestos en puerto rico, isla,podrÍa llegar a traer graves consecuencias. en el nuevo referÉndum que se realizarÁ en 2016, los puertorriqueÑos deberÁn optar por esta nueva alternativa. sin embargo, el congreso de los estados unidos deberÍa aportar este camino. ... por encima de mantener el status actual o la independencia. mientras tanto, la agresiÓn del caribe no puede seguir nadando, pero no tiene permiso para ahogarse, porque su estado le impide declararse en bancarrota. sin esperanzas en el corto plazo se estima que el 45% de las familias viven bajo el umbral de la pobreza y el desempleo rondan el 11% segÚn las autoridades. ilia: gracias. segÚn las autoridades en el municipio de ina... una persona que adquiriÓ el tÍtulo de manera fraudulenta. katherina nos informa. katherina:gracias. suman unos 80.000 los que no han participado de este proceso de formaciÓn. >> no es que las escuelas hacen lo que quieren. hay una planificaciÓn y en todas las escuelas nacionales estamos haciendo lo mismo. >> para cumplir es

why did puerto rico do it? >> it's a chess match, really.'s two sides there's -- on puerto rico's side they have their administrators and they are hoping to beat their of meant tos who are hedge fund operators, debt owners and also washington, d.c. they are hoping to make a move that somehow compels washington, d.c. legislators or administrators to do something -- >> to do what? >> they are hoping for maybe a chapter 9 restructure, which is currently unavailable to them for whatever reason congress decided that many many years ago. possibly to get a waiver on what is called the jones act, which forces all goods to go through the mainland before they go to puerto rico. it increases costs for everything on the island. they would like to see change. >> if the those changes were made, would that have improvement on the economy in puerto rico soon? >> no. >> yeah. >> in the long term. >> it is going to take years. >> absolutely. it is going to take years. and really what they are looking for, they want something -- they want a low-interest loan t

everyone think so it's puerto rico, it's puerto rico, but the reality is 51% of all mutual funds in bondsow have some exposure to puerto rico. so it could matter very much to people, and this may be one of the reasons that we're seeing a market off 172. >> that's exactly right and how could you possibly sell so much stuff? but what happens is they issue this, and then it gets stuffed in these mutual funds, put in 401(k)s, people trust their financial advisors, they may have russian debt, they may have emerging markets funds, all kinds of things. people don't look into it until it goes into default. trish: i wonder how much you can tie this into federal reserve. leaving interest rates at 0 for six plus years has forced a lot of average folks to take on riskier and riskier products. and i wonder if the same could be said about mutual fund advisors it's giving me this great return, it's tax-exempt, i like it, and then here you are loan and behold in a situation like this. trish: we're the currency union with puerto rico, they have the dollar, we have the dollar, germany has the euro, you're