so that is themacro, the broad picture -- the macro, the broad picture.host: can puerto rico pay it jack of -- it? guest: yes. there are some authorities that are having difficulty in meeting their payment obligations. that entity has already a forbearance agreement with its major creditors dating back about a year. so that is an entity that definitely -- it needs to restructure its organizations -- operations, as well as its organization, to make it if it fills its obligations. host: you have introduced legislation to allow perjury go to file bankruptcy. there is this headline, though from yesterday -- congress won't grant puerto rico bankruptcy protection. guest: the first thing i should say is what i'm asking for in my bill, and there is a counterpart bill in the senate, is that puerto rico begin in exactly the same treatment as the states get in terms of bankruptcy. we are not talking about the central government of puerto rico the current bankruptcy. that is not available to the states, so it would be available to puerto rico. but it could allow it i

so that is themacro, the broad picture -- the macro, the broad picture. host: can puerto rico pay it jack of -- it? guest: yes. there are some authorities that are having difficulty in meeting their payment obligations. that entity has already a forbearance agreement with its major creditors dating back about a year. so that is an entity that definitely -- it needs to restructure its organizations -- operations, as well as its organization, to make it if it fills its obligations. host: you have introduced legislation to allow perjury go to file bankruptcy. there is this headline, though from yesterday -- congress won't grant puerto rico bankruptcy protection. guest: the first thing i should say is what i'm asking for in my bill, and there is a counterpart bill in the senate, is that puerto rico begin in exactly the same treatment as the states get in terms of bankruptcy. we are not talking about the central government of puerto rico the current bankruptcy. that is not available to the states, so it would be available to puerto rico. but it could allow it