Municipal Bond Forum
California is not Puerto Rico
Q
Regarding your article, “Embrace the Headlines,” I do not believe one can compare California with Puerto Rico. Yes, California had problems, but it has always had a thriving state economy and is now running a surplus, where Puerto Rico never has been. I’m just thankful I chose to not buy Puerto Rico bonds.
A
James A. Klotz responds:
Our article in no way was intended to compare California to Puerto Rico. Our intent was to demonstrate that headlines from the financial media are often extremely misleading. We are not comparing California to Puerto Rico any more than the media should have compared California to Greece.
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