Puerto Rican bonds and the small investor

The TV ads flash the noble faces of American retirees and urge Washington to help protect their savings. The back story is kept rather vague. It's that many older people invested in Puerto Rican bonds. The U.S. territory's economy is in deep crisis, and it has begun defaulting on this debt. The question here: What prompted ordinary investors to put their savings into Puerto Rican bonds? But first let's look at who is running the ads.

The TV ads flash the noble faces of American retirees and urge Washington to help protect their savings. The back story is kept rather vague. It's that many older people invested in Puerto Rican bonds. The U.S. territory's economy is in deep crisis, and it has begun defaulting on this debt. The question here: What prompted ordinary investors to put their savings into Puerto Rican bonds? But first let's look at who is running the ads.…