Fault Lines travels to San Juan as protests erupt over the island’s crippling debt crisis and Wall Street’s growing influence on the economy
Puerto Rican Governor Alejandro Garcia Padilla's announcement that the island had accumulated $72 billion in debts—and would not be able to pay them back anytime soon—touched off a new struggle over who should pay for the economic crisis.
Meanwhile, the U.S. territory has not yet recovered from the effects of the global financial collapse, with unrivaled poverty and inequality rates. Simultaneously, Wall Street investors have taken a new interest in the island, buying up debt and taking advantage of favorable tax conditions.
Fault Lines travels to Puerto Rico to investigate the fate of the island's public education system—which the government targeted for massive cuts—and to examine whether an influx of investment dollars really has the potential to address an island mired in debt.
Executive Producer: Mathieu Skene, Senior Producers: Hanaan Sarhan, Laila Al-Arian @LailaAlarian, Correspondent: Sebastian Walker @sebwalker, Producer: Paul Abowd @paulabowd, Director of Photography: Singeli Agnew @singeli, Editor: Warwick Meade @warwickmeade, Fixers: Laura Moscoso, Dalila Rodriguez Saavedra, Additional Photography: Nicole Salazar @nicoleasalazar, Paul Abowd, Production Manager: Dana Merwin @dana_merwin, Digital Producer: Nikhil Swaminathan @sw4mi, Production Assistance: Zahra Rasool @RXahra, Malak Habbak
More from this Episode
Alberto Bacó, secretary of economic development, says plan to attract wealthy investors will ease the pain of austerity
Professor Rafael Bernabe says the debt-ridden island needs a New Deal-type program to solve its debt crisis
More on Puerto Rico
Members of the creative class stick it out in San Juan, seeking out inspiration and new opportunities
Squeezed by high taxes and jobless rates, workers seek better quality of life on US mainland