Puerto Rico’s governor on need to postpone debt payments for years: ‘It’s about math’

(Ricardo Arduengo / AP)

Alejandro Garcia Padilla proposed creating a committee that would work to create reforms, but he said “sacrifices should be shared.”

    Latest News

    Markets fall as twin defaults loom in Greece, Puerto Rico

    Markets fall as twin defaults loom in Greece, Puerto Rico

    Greece appeared increasingly likely to miss a critical debt payment, while Puerto Rico’s governor announced that the island cannot pay back more than $70 billion in debt.

    Battery maker to open College Park R&D center

    Battery maker to open College Park R&D center

    Award winning battery maker puts down roots with the place that helped give it its start.

    Greece banks closed amid deepening crisis over future in euro zone

    Greece banks closed amid deepening crisis over future in euro zone

    European markets were tumbling in the wake of Greece’s decision to impose a bank holiday.

    Main Street Morning: Intuit lays off hundreds of employees

    Main Street Morning: Intuit lays off hundreds of employees

    Our rundown of news affecting start-ups and small businesses.

    US pending home sales climb to 9-year high

    US pending home sales climb to 9-year high

    More Americans signed contracts to purchase homes in May, as pending sales climbed to their highest level in more than nine years.

    5 ways airlines are actually making flying better

    5 ways airlines are actually making flying better

    Packed planes Less legroom. Fewer frequent flier miles.

    Columnists

    Michelle Singletary

    Michelle Singletary

    Teenage driver needs a payment plan for the damage done

    Also, should a family dealing with terminal illness use part of an inheritance to make memories or save it?

    Barry Ritholtz

    Barry Ritholtz

    You’re only human: An economist explains how it hurts your portfolio

    As Richard Thaler explains, investors behave against their own interests — but you can outsmart your brain

    Rodney Brooks

    Rodney Brooks

    What age is best to start drawing Social Security benefits? Truth is, it depends.

    Waiting till 70 is often advised due to longer life spans, but sometimes starting sooner makes most sense.

    Allan Sloan

    Allan Sloan

    A steady bloodletting by corporate deserters

    Washington has failed to act on short-term-fix legislation and reforming the corporate tax code.

    Thomas Heath

    Thomas Heath

    The Boland family has a pretty hot — and sticky — business

    The family that brought A/C to Washington wants to manage your energy, too.

    Market News

    US stocks notch worst day of year as Greek crisis escalates

    US stocks notch worst day of year as Greek crisis escalates

    Fears that Greece’s troubles could spread through the global financial system shook markets on Monday, driving U.S. stocks to their worst day of the year.

    Wonkblog

    The four ways to end the Greek crisis, from Obama’s former top economist

    The four ways to end the Greek crisis, from Obama’s former top economist

    It’s not clear European leaders will choose any of the right options.

    Things in Puerto Rico are getting really bad: What you need to know

    Things in Puerto Rico are getting really bad: What you need to know

    This is the place to start if like most people, you haven’t been keeping track of what’s going on in Puerto Rico.

    Corporate America beat back its best job trainers, and now it’s paying a price

    Corporate America beat back its best job trainers, and now it’s paying a price

    Companies say they can’t find skilled workers. Turns out unions are pretty good at providing them.

    More from Wonkblog

    On Leadership

    The workplace perks that are in — and out

    A new survey examines the changing landscape of employee benefits.

    IBM is struggling. But former CEO Sam Palmisano says he isn’t looking back.

    IBM is struggling. But former CEO Sam Palmisano says he isn’t looking back.

    “If you go through the patterns of mistakes I made, it all came down to speed,” Palmisano says.

    More from On Leadership

    Get There

    Active vs. Passive: How fund managers stack up to index funds

    Active vs. Passive: How fund managers stack up to index funds

    New data may help investors figure out when they’re more likely to find a fund manager worth the higher fees.

    5 money questions gay couples need to ask after the Supreme Court ruling

    5 money questions gay couples need to ask after the Supreme Court ruling

    Here’s what gay couples need to ask their financial advisers.

    The Switch

    Here’s how you can help crowdfund a Greek bailout

    Here’s how you can help crowdfund a Greek bailout

    Save the land of Ouzo and feta with this campaign.

    More than 21 million people watched gaming’s biggest annual show on Twitch

    More than 21 million people watched gaming’s biggest annual show on Twitch

    Twitch grabbed more than 21 million viewers during E3. That’s more than New York, San Francisco and London, combined.

    More from The Switch