In the film Godfather II, the birthday of mobster Hyman Roth was celebrated by cutting a cake of Cuba…which was exactly what Roth and the Mafia were doing at the time.
They were cutting up Cuba, and making stratospheric profits, with the complicity of the Cuban government.
The 2015 “Puerto Rico Investment Summit” featured the same Mafia and the same cake…only this time, the cake was Puerto Rico.
The cake-cutting…or rather, the Summit…was held in the Condado Vanderbilt Hotel, which is owned by billionaire hedge funder John Paulson.
Paulson made his greatest fortune…billions of dollars…by profiting on home foreclosures during the U.S. 2007 mortgage crisis.
In 2007 alone, Paulson made over $15 billion “by short-selling the U.S. housing market, effectively betting on its collapse, even perpetuating the magnitude of the collapse.”
MEYER LANSKY…HYMAN ROTH…JOHN PAULSON
“Hyman Roth” was a fictional re-creation of the real-life Meyer Lansky. Now in Puerto Rico, Meyer Lansky lives again…in the body of John Paulson.
Paulson does not merely own the Condado Vanderbilt Hotel. He also owns La Concha Rennaisance Hotel, the San Juan Beach Hotel, the St. Regis Bahia Beach Resort, and a $500 million condominium development on Dorado Beach.
He owns the 326,000 square-foot AIG office building in the posh Hato Rey financial district, and “various land parcels for future development.”
He owns 8.6% of Banco Popular, the island’s largest bank.
He also owns a large share of Puerto Rico’s “public debt.”
If the US congress extends no Chapter 9 bankruptcy relief to the island, then Paulson will soon own a portion of Puerto Rico’s physical infrastructure (ie water, electricity, schools, roads, bridges).
Thanks to Act 20 and Act 22 – two Puerto Rico “economic development” statutes – Paulson will not pay any interest, dividend, or capital gains taxes on any of this hotel, office, or infrastructure income for twenty years.
U.S. CONGRESS…PUERTO RICO GOVERNMENT…JOHN PAULSON…ALL IN BED TOGETHER
With complicity from the US congress and the government of Puerto Rico – particularly from Alberto Baco, the “Secretary of Economic Development” – this mortgage vulture named John Paulson is now feeding on Puerto Rico.
He is buying “distressed properties” all over the island, even as one million Puerto Ricans had to leave the island, over the past fifteen years.
In fact, Paulson is buying the SAME “distressed properties” that these Puerto Ricans had to leave behind…and he buys them for pennies on the dollar.
John Paulson perfected his predatory business model in the 2007 US mortgage crisis. He helped to deepen that crisis…and now, he brings this business model to Puerto Rico.
In 2016, when a US Financial Control Board is installed, Paulson will sink his teeth even deeper into the Puerto Rican economy – with the full force and authority of a “control board,” which will ensure that Paulson gets paid.
BIGGER THAN U.S. STEEL
In Godfather II, Hyman Roth said “we’ll be bigger than US Steel.”
But in 2012, US Steel lost $74 million. In 2013, it lost $1.8 billion. In 2014, when US Steel finally reported net earnings of $104 million, that was its highest earnings report since 2008.
By contrast, in 2013, John Paulson’s take-home pay was $2.3 billion.
Which means that compared to US Steel’s best year, John Paulson is making 21 times ( 2,100 % ) more than US Steel.
John Paulson is already bigger than US Steel…about 21 times bigger….
And getting bigger in Puerto Rico.
Hyman Roth, Meyer Lansky and the Cuban Mafia never had it so good.
For a history of the War Against All Puerto Ricans, read the book…
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