Treasury’s Weiss Makes Mark Championing Puerto Rico Solution

Antonio Weiss has survived protesters at his New York apartment, an advertising campaign targeting him and an anti-Wall Street tirade by a top Democrat to become a key architect of the Obama administration’s strategy to rescue Puerto Rico from its deepening fiscal crisis.

After months of bipartisan negotiations that often created odd political bedfellows, the Senate passed a bill late Wednesday that will restructure Puerto Rico’s $70 billion debt and create an oversight board to help with finances. While the island’s governor on Thursday declared a moratorium on debt payments, promising its biggest default yet, President Barack Obama’s signing of the legislation raises the prospect of an orderly resolution that’s helped Puerto Rico bond prices rebound from lows.