At the exact moment that 3.5 million Puerto Ricans are getting a Financial Control Board, a billionaire gets a major Puerto Rican beach. John Paulson, the King of subprime mortgages and vulture funds, just acquired 250 condominiums and 46 acres of beachfront property.
While Puerto Ricans are forced off the island, Paulson will welcome 250 rich foreigners (mostly from the US) to his luxury condos in Humacao, Puerto Rico.
PAULSON SPECIALIZES IN “DISTRESSED PROPERTIES” AND HOME EVICTIONS
John Paulson made his greatest fortune…billions of dollars…by profiting on home foreclosures during the U.S. mortgage crisis in 2007.
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.”
PUERTO RICANS EVICTED OFF THEIR OWN ISLAND…BY JOHN PAULSON
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 Puerto Rico, Paulson 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.
Paulson is also getting 20-year tax breaks so that he can buy luxury hotels, office buildings, millionaire resort complexes, and beaches all over the island.
Paulson even owns 8.6% of Banco Popular, the island’s largest bank.
ONE SIMPLE QUESTION
All of this leads to one simple question…
Who do you think will be buying those 250 luxury condominiums from John Paulson?
The Puerto Ricans who are being taxed to death, and hounded off the island, by a Financial Control Board…
Or 250 rich foreigners?
The answer to this question will tell us a great deal, about the future of Puerto Rico.
For a history of the War Against All Puerto Ricans, read the book…
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