In a few weeks, a Financial Control Board will rule over Puerto Rico. The PPD and PNP politicians had a great deal to do with this…and will all profit from it.
These people specialize in avoiding responsibility, and blaming everyone else for their crimes…
During his brief governorship, Luis Fortuño borrowed a record $16 billion in just four years: more than any governor in Puerto Rican history. He then issued $9 billion in “private contracts,” much of it to family and friends – and today, in 2016, the money is still unaccounted for.
Fortuño now makes millions in the Washington, D.C. law firm of Steptoe & Johnson, where he advises U.S. hedge funds and corporations on how to make money in Puerto Rico.
Pedro Pierluisi’s family net worth has increased 2700% since he became Resident Commissioner in 2008. This comes mostly through his wife, María Elena Carrión. Within two weeks of Pierluisi taking office, his wife Maria quickly set up a “financial advisory firm” named Multicultural Capital.
The principal clients of this “advisory firm” are the hedge funds and P3s (public-private partnerships) that will be doing business with the Financial Control Board. The fees they’ve paid to this firm, are already in the millions.
Gov. Garcia-Padilla set up his own brother, Antonio Garcia-Padilla, in a “non-profit” which does business with U.S. billionaire Nicholas Prouty, Salomon Brothers, USB Bank, and other US corporations.
Just like Pierluisi and Fortuño, Garcia-Padilla advises them on how to set up tax-free corporations, to make money off Puerto Rico.
PPD and PNP
The Governor’s political party recently tried to “privatize” the beaches of Puerto Rico…and both the PPD and PNP politicians supported it, with an overwhelming vote of 44-1.
For nearly seventy years, these politicians have continued to bleed the island, steal from their own people, deceive them every four years…and now they present the people of Puerto Rico with the bill…a $72 billion public “debt.”
THEY are the ones who owe $72 billion…not the people of Puerto Rico.