Failed Sheraton

Failed resorts are not unusual, but this one is. Its the abandoned beginnings of the Sheraton Rarotonga.

The Cook Islands government participated in a venture that turned out to be mostly a conduit to crooked investors. When the project fell through, it became solely responsible for half of the national debt.

To put that in perspective, the federal debt of the US is around $13 trillion. Half of that would pay for 9 Iraq wars.


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