> The original lenders, who put up money that allows Puerto Rico to pay for various things, did so within a legal regime where it knew Puerto Rico couldn’t decl

> The original lenders, who put up money that allows Puerto Rico to pay for various things, did so within a legal regime where it knew Puerto Rico couldn’t declare bankruptcy These same investors also knew that there was a real possibility that Congress and the President could change the law at any time — which is very much part of “the legal regime” they should have considered when investing.