Is Dan Malloy’s Connecticut The Next Puerto Rico?

State leaders are meeting with the same Manhattan-based firm that advised Puerto Rico on its fiscal mess

From the RGA

"With Connecticut rocked by frequent credit downgrades, high-profile business departures, sales and income tax hikes, the highest unemployment rate in the region, and an ongoing budget crisis with no end in sight, the state appears headed towards fiscal disaster thanks to Failed Governor Dan Malloy and his party’s enablers.  A new report today details that Connecticut’s Democrat leaders have been meeting with a Manhattan-based financial services firm that 'specializes in financial restructuring and long-term strategy,' the exact same firm that has advised Puerto Rico, which declared a 'form of bankruptcy' earlier this year due to its own fiscal crisis."


Sales tax hike, fiscal reforms are chips in budget negotiations


[Democrat State Sen. Gayle] Slossberg was part of a group of House and Senate Democrats who met in late June with executives from Millstein and Co., a Manhattan-based financial services firm specializing in financial restructuring and long-term strategy.

Millstein and Co. has advised Puerto Rico on debt restructuring and other fiscal matters. It also assisted the U.S. Treasury in 2008 with the restructuring of the Federal National Mortgage Association, commonly known as Fannie Mae, and the Federal Home Loan Mortgage Corporation, or Freddie Mac."

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