Like a great sea captain…now that Gov. Alejandro García Padilla has sunk the entire ship, he is the first one to abandon it.
As Puerto Rico sinks quietly into the Caribbean Sea, García Padilla will not run for re-election as its governor.
Not one person in Puerto Rico is surprised by this. Here is why:
The Government is BROKE
Within a few weeks the Banco Gubernamental de Fomento (BGF) will run out of cash reserves. In other words, by December 2015, Puerto Rico will be broke.
http://www.nytimes.com/2015/09/10/business/dealbook/what-puerto-ricos-new-plan-means.html
The Government owes BILLIONS
The government of Puerto Rico owes $73.6 Billion, and has no access to the credit markets. In fact, just one month after it goes broke, Puerto Rico will be hit with a $945 million bond re-payment demand.
http://www.cnbc.com/2015/09/09/puerto-rico-plan-still-leaves-12-billion-gap.html
The Government will no longer EXIST
Thanks to García Padilla, a five-member Financial Control Board will now rule over Puerto Rico, its economy, and its government. This Board will have authority over the entire Commonwealth government, and all of its 78 municipalities.
The Board will have subpoena powers, and will be accountable to no one in Puerto Rico. In other words, this Board will be the government of Puerto Rico.
It was García Padilla who created this “Financial Control Board” and urged his legislature to adopt it. Thanks to García Padilla, the office of “Governor of Puerto Rico” will now become an international joke.
The Governor is in NEW JERSEY
As Puerto Rico sinks into the sea, Gov. García Padilla is currently in Jersey City, New Jersey.
What is he doing in New Jersey?
There were no scheduled press conferences, no public hearings or events, no announced conferences. The governor went to New Jersey in a highly private manner.
Perhaps the governor is cutting his personal deal with the hedge funds, before sticking the last dagger in Puerto Rico’s back.
For this purpose, New Jersey is a perfect setting. Puerto Rico has a gangster government. A government of thieves. No wonder they sneak into New Jersey.
No wonder they don’t run for re-election.
Our elected leaders must be supported if Puerto Rico is ever going to solve it’s problems. If you cut off the head, the rest of the body will die.
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What a dog…..so much for seasoned politician who was going to put Puerto Rico on the right track. One can only hope that everyone remembers this coward and should he ever decide to run for anything, including dog catcher, that they remember how he left Puerto Rico in turmoil with no solutions in site.
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Superman has left the island. He’s cashing in his chips at the Jersey casino.
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this happen for puertoricans in the island elect the governor base on good looks not on political experience is like giving to give the goverment to a babyface supermodel which pr polititian will run for governor now o another baby face ricky rosello.
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The governor has left the island he’s in New Jersey cashing in his chips
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Despierta Borinqueñ.
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Superman has just left the island. Must be cashing his loot, at the Jersey casino.
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Reblogged this on It Is What It Is and commented:
Really? Reminds me of the lyrics of one of the “West Side Story” songs …. “Puerto Rico? My heart’s devotion, let it sink back in the ocean!” …. something along those lines! Sad, so sad …. the plundering will continue!!
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