Puerto Rico Nears Default As Deadline Looms

Puerto Rico is heading toward a default on Saturday, just weeks after Gov. Alejandro García Padilla in June told investors that the island's $72 billion in debt was unpayable.

The expected default over the weekend paves the way for a big fight with investors over what will be done with the country's debt.

Here & Now's Jeremy Hobson speaks with Cardiff Garcia of the Financial Times about what's in store for Puerto Rico's financial future.