Luis Fortuño…the chairman of Puerto Rico’s Financial Control Board?

Book - 12-10


Within a few weeks, the U.S. Congress will create a Financial Control Board (FCB) to rule over Puerto Rico.

If this isn’t bad enough, there is growing discussion that the Chairman of the FCB may be…Luis Fortuño.


The concern over Luis Fortuño is well-founded. In four short years, as governor, Fortuño hijacked the Puerto Rican economy as ruthlessly as Tony Montana sold cocaine.

Fortuño fired 30,000 workers, raised taxes, and drove Puerto Rico into bankruptcy.

He spent $100 million on a “science & cultural project” that never materialized…and then the $100 million disappeared.

He then made $4,863,000,000 (nearly $5 billion) disappear for “orientation, publicity, consulting and personal services” contracts all over the island. To this day, no one knows where all this money went, or who received it.!hX9jixYJTT1E/

Actually, that is not entirely true. We do know where $22.8 million of the money went. It was paid in legal fees to the Washington D.C. law firm of Steptoe & Johnson…the same law firm that hired Luis Fortuño, when he lost his re-election for governor.

Steptoe now pays him a multi-million dollar salary.

In other words, Luis Fortuño funded his own partnership and salary at Steptoe & Johnson, with $22.8 million in Puerto Rican tax dollars.

It was a very neat magic trick…but how does someone NOT go to jail for this?


Somehow…through some strange alchemy…the robber in Puerto Rico has become a “reformer” in Washington, D.C.

From his multi-million dollar perch, as a partner in the law firm of Steptoe & Johnson, Fortuño now pontificates on a regular basis about the “mismanagement” and “government waste” in Puerto Rico.

He gives one interview after another…a non-stop media tour…saying that the government payroll must be reduced in Puerto Rico, that budgets must be responsible, and that creditors and bondholders must all be paid.

Fortuño claims that he “reduced” government spending by $2 billion, and “rescued” the taxpayers and workers of Puerto Rico.

What he conveniently omits, is that he borrowed over $16.5 billion in just four years – more than any other governor in Puerto Rican history – and then spent $9 billion of that in “private sector contracts” for his family, friends, and financial contributors to his PNP political party.

One friend alone – Pedro Ray Chacón – was awarded a $9.7 million contract for a gasoline pipeline that was never built.

The New York Times reported that “hope in government has returned” with Fortuño.


As a partner in Steptoe & Johnson, Fortuño now “advises Fortune 500 companies on regulatory, financial, and corporate matters throughout Latin America.”

He writes articles for Fox News, saying that “Puerto Rico has a spending problem.”

He encourages the privatization of Puerto Rico through “P3” (Public Private Partnership) projects, with large U.S. corporations.

He is systematically building his brand as the “go to guy,” the beltway broker…the D.C. Puerto Rican who can anoint, promote, and launder U.S. corporate interests in Puerto Rico.

In short, Luis Fortuño is quietly positioning himself as the top political adviser to the Financial Control Board, and the top lobbyist for anyone who does business with them.

He is also lobbying, to be named the CHAIRMAN of the Control Board.

On Radio Isla (1320 AM), the newspaper El Nuevo Día, and Información al Desnudo, the discussion about Fortuño as “Chairman of the FCB” has continued for months…and no one seems very happy with it.

They realize instinctively, that Fortuño is preparing to rob the island…a second time.

For a history of the War Against All Puerto Ricans, read the book…

War Against All Puerto Ricans: Revolution and Terror in America’s ColonyBuy it Now

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10 Comments on “Luis Fortuño…the chairman of Puerto Rico’s Financial Control Board?

  1. Pingback: Puerto Rico gets a Financial Control Board | WAR AGAINST ALL PUERTO RICANS

  2. $5 billion disappear and yet there are still those who attempt to defend him? “Vendepatria” does not even begin to describe the record breaking thievery and thuggish actions of this nature. While there are decades of finger pointing and blame to go around for both red and blue persuasions, how does one ignore something so painfully blatant ?


  3. I am slightly confused: doesn’t this bill state that none of the elected folks for this FCB can be current or previous elected officials from the island? As the former governor, that seems to disqualify Milhouse. Or is Chairman a different position that isn’t applicable to this provision? Thanks.


    That is a good question, and you are technically correct about previous electeds.

    I say “technically” because COFINA bonds violate Article VI, Section 2 of Puerto Rico’s constitution, and are therefore illegal…yet Wall Street convinced the Commonwealth to issue the bonds anyway.

    The entire ELA relationship is fraudulent…yet the UN condoned it as “real.”

    The Jones Act is a maritime scam…yet the US has sanctioned it for 96 years.

    Public Law 53 was unconstitutional…yet it lasted (and was used aggressively) from 1948 until 1957.

    In 1952 the US alleged that Puerto Rico was a “Commonwealth”…yet in 2016 the Obama administration told the US Supreme Court that Puerto Rico is a dependent US territory.

    Puerto Ricans were deemed “US citizens” in 1917…yet six decades later they were still struggling for a minimum wage…and now in 2016, this PROMESA bill denies the minimum wage all over AGAIN.

    Accordingly, two lines in the PROMESA bill won’t stop Congress from subsequently re-defining the meaning of “former” elected official, to suit their aims and immediate expediency.

    For instance…they could claim that Fortuño’s eligibility is predicated on his current partnership at Steptoe & Johnson…that Fortuño’s intervening period of employment at Steptoe & Johnson somehow “interposes” and thereby vitiates and/or modifies his status as a former elected official. The logic is admittedly weak, but this never stopped Congress from doing whatever the **** they want, with respect to Puerto Rico.

    –Nelson Denis


  4. This is true. Obviouslly writen by the other side which ARE the robbers including election robbers. We Do want Fortuño in Promise he did fixed a lot of thing but the ppd as usual turns ir all down to delay statehood. They will go to jail. Wait and see the investigationa.


  5. I have been browsing online more than 2 hours today, yet I
    never found any interesting article like yours. It is pretty worth enough for
    me. In my view, if all webmasters and bloggers made good content as you did,
    the internet will be much more useful than ever before.


  6. Really. They are going to allocate this moron back to finish with our island. I think you are going to have major problems with the residents.


  7. It was during Luis Fortuno time as governor,
    that the people of Puerto Rico starting leaving! Desperately looking for jobs and opportunities.
    He, Fortuno attributed the slight lowering of unemployment to his success, but this slight lowering was due to people leaving Puerto Rico to the Mainland looking for Jobs!!!!
    Not to his success as Governor!!!
    He is very shrewd!


  8. I would be shocked if I weren’t so un-surprised.

    Puerto Rico’s future is doomed at the smarmy, slimy, sticky hands of its very own “leaders” and their absolute and historic lack of conscience, ethics and morality. And dare I even ask for a shred of national “pride”?

    They have adapted well to the parasitic relationship of blood-sucking flea on the very tip of the tail of the dog.

    And not surprisingly, they go where the dog decides. They pee when he pees and they make caca when he does too.

    Billary and El Trumpo will be no better, but at least Billary will have learned how to do our national dance, “La Cucaracha” (eye-roll) and El Trumpo will just bull-doze Old San Juan for another Casino with a big golden “T” on top.

    Truly accomplished, distinguished and principled Puerto Ricans of the past are turning in their graves to see what their beloved homeland has become. Read about ones you will NEVER hear about in any USMainland blog…

    and his son…

    They lived in a time when being Puerto Rican meant more than being a Hollywood thug-stereo-type supported by our “celebrities” or a colossal embarrassment of incompetence like today’s “leaders”. And they did it all in a SECOND language no less.

    Sad but we NEVER hear about either of them, but yet the Puerto Rican Day parade in NYC is awash with ghetto culture impersonating the culture of Puerto Rico and Goya will sell more beans and Banco Popular will issue more credit cards…so sad…so very, very sad.

    P.S. LatinoRebels editor…it really is okay to post this…”our” people deserve to know about THEIR history from a time when Disgrace, Dysfunction and Demoralization were not descriptors of our Island in 3-D.

    Liked by 1 person

  9. Reblogged this on It Is What It Is and commented:
    Luis Fortuño!! He really looked out for himself while governor ….. Now he’s setting himself to have w “second helping” again!! Is there anyway to stop him!?
    #VendePatria … Twice!! SMH …


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