Wells Fargo analyst outlines P.R.’s ‘economic failure’ | News is my Business™

Wells Fargo analyst outlines P.R.'s 'economic failure'

Written by Michelle Kantrow  //  May 25, 2012  //  Economy  //  No comments

Many argue that Puerto Rico's problems started when the U.S. government ended the tax benefits for U.S. firms doing business on the island, Alemán said, referring to the end of Section 936.

While saying Puerto Rico is not "America's Greece," a senior analyst with Wells Fargo Securities said the time has come for the island to implement drastic change or risk facing an even bigger economic collapse.

In a lengthy document titled "Puerto Rico: Failure of the State," Wells Fargo Senior Analyst Eugenio Alemán said Puerto Rico's fiscal union with the United States has lessened the effect of the crisis it has been navigating since 2006, but time is running out.

Ver:

http://newsismybusiness.com/wells-fargo-analyst-outlines-p-r-s-economic-failure/