Predatory-Finance

Puerto Rico Defaults on $422 Million Bond Payment, Triggering Largest Municipal Debt Crisis in U.S. History

2016-05-01 00:00:00 +0000 UTC | Importance: 9/10

Governor Alejandro García Padilla ordered Puerto Rico’s first major default, blocking a $422 million payment on Government Development Bank bonds. This historic default was part of Puerto Rico’s unprecedented $72 billion debt crisis, representing debt larger than the island’s GDP. …

Alejandro García Padilla Puerto Rico Government Development Bank Puerto Rico Government Hedge Fund Creditors puerto-rico debt-crisis municipal-bankruptcy financial-engineering austerity +3 more

Florida Land Boom Epitomizes Unregulated Speculation and Securities Fraud

1925-01-01 00:00:00 +0000 UTC | Importance: 7/10

The Florida land boom reaches its speculative peak in 1925, with real estate transactions totaling an estimated $7 billion (equivalent to over $120 billion today) in a single year. Developers like Carl Fisher (Miami Beach), George Merrick (Coral Gables), and Addison Mizner (Boca Raton) orchestrate …

Carl Fisher George Merrick Addison Mizner Florida Legislature financial-speculation regulatory-failure securities-fraud real-estate predatory-finance