, Columnist
When All Else Fails, Sue Wall Street
There's a lot of blame to go around, but banks have deep pockets and a history of municipal-debt settlements.
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Disagreements about money often have a clear solution: Everyone sues each other. That’s the American way.
And so it goes for Puerto Rico, the fiscally crippled island that incurred $74 billion of debt over a period when its population and economy were shrinking. Investors have brought many suits against the commonwealth, which now appears to be setting the stage for its own lawsuit against big Wall Street banks.