Vulture funds sue Puerto Rico, to stop it from “wasting money” on hospitals and schools

Book - 12-10

 

A consortium of vulture funds is suing Puerto Rico in federal court, demanding that the Commonwealth “stop wasting its assets” on payments to local hospitals and schools, until the Financial Control Board (FCB) arrives in September 2016.

According to the lawsuit, Puerto Rico is “brazenly violating the PROMESA legislation,” which “specifically prohibits Puerto Rico” from making these payments until the FCB takes control of the island’s economy.

The case is Lex Claims v. Padilla, 16-cv-02374, U.S. District Court, District of Puerto Rico.

http://www.bloomberg.com/news/articles/2016-07-20/puerto-rico-sued-for-diverting-funds-after-oversight-law-passage

http://www.newsy-today.com/puerto-rico-sued-for-diverting-cash-after-federal-law-passed-bloomberg/

The significance to Puerto Rico is profound: within weeks of the passage of PROMESA, vulture funds are already using it – as legal and federal leverage – to prevent Puerto Rico from paying for schools, medical, police, fire, electrical and water services.

If any of those services lower the profits of the vulture funds, they will sue in federal court to stop them.

THE STONE LION CONNECTION

One of the main plaintiffs in this lawsuit is Stone Lion Capital Partners.

The co-founders of Stone Lion are Alan Jay Mintz and Gregory Augustine Hanley.

http://davidstockmanscontracorner.com/meet-stone-lion-capital-cub-of-the-bear/

http://www.dailykos.com/story/2015/12/12/1459632/-An-echo-of-2007

http://www.zerohedge.com/news/2015-12-12/eerie-echo-2007-it-really-bear-stearns-all-over-again

Before this, Mintz and Hanley were the co-heads of “Distressed Debt and High Yield Trading” at Bear Stearns.

In other words, Mintz and Hanley were two principal engineers of the 2007 mortgage crisis. At Bear Stearns, they pumped out fraudulent CDSs (credit default swaps) and CDOs (collateralized debt obligations) until the entire US economy became infected with them.

https://waragainstallpuertoricans.com/2016/03/23/wall-street-bleeds-puerto-rico-dryand-hires-puerto-ricans-to-do-it/

These financial instruments were absolutely toxic: the housing market collapsed and Wall Street required a trillion dollar bailout. As a leader in this fiasco, Bear Stearns also collapsed…and closed its doors forever, in complete and utter disgrace.

Immediately after this disgrace, Mintz and Hanley formed Stone Lion Capital Partners.  

STONE LION PARTNERS – DESPERATE FOR QUICK CASH

It’s a new corporate disguise…but the same old Mintz and Hanley.

Just seven months ago, in December 2015, the Wall Street Journal reported a bombshell about Mintz and Hanley and Stone Lion Partners: the firm did not meet the investor payments in its oldest account, and had to “suspend redemption.”

In other words, Stone Lion defaulted. They told their oldest investors, “we’re sorry, but we can’t pay the money we owe you. The gate is down.”

http://www.marketwatch.com/story/now-stone-lion-capital-suspends-redemptions-as-junk-bond-market-fears-accelerate-2015-12-11

http://www.zerohedge.com/news/2015-12-11/here-gate-2-13-billion-stone-lion-capital-suspends-redemptions

http://www.wsj.com/articles/stone-lion-capital-partners-suspends-redemptions-in-its-oldest-fund-1449870782

http://wallstreetonparade.com/2015/12/troubled-funds-freezing-withdrawals-of-your-money-2007-versus-2015/

http://www.finalternatives.com/node/32245

http://investmentresearchdynamics.com/second-warning-get-out-of-your-bond-fund-before-its-gated/

So the founding fathers of Stone Lion…the twin engines of disaster at Bear Stearns… created a new disaster in December 2015.

They paid themselves huge Christmas bonuses…and guaranteed those bonuses, by defrauding their longest-standing investors. Just two weeks before Christmas.

This is the business model, and the sociopathic ethics, that they took to Puerto Rico.

HIRE A BEST-DRESSED PUERTO RICAN

With a liquidity catastrophe in December 2015, Stone Lion stepped up their collection operations in Puerto Rico.

They hired Julio Cabral-Corrada, an ambitious boy all dressed for success…in fact, according to Magacín: La Galería Mas Exclusiva de Eventos Sociales, Julio is one of the “12 Best-Dressed Men in Puerto Rico.”

http://www.magacin.com/fotogalerias/12-mejor-vestidos/#20151211_gala_map_epr_031

Julio Cabral-Corrada…the best-dressed vendepátria

Julio is an “investment associate” and “Puerto Rico liaison” at Stone Lion.

He is helping Stone Lion, with their lawsuit against Puerto Rico in federal court.

According to the New York Times, Julio also arranges illegal political contributions – violating federal election law – by charging large “donations” for the opportunity to “meet with Resident Commissioner Pedro Pierluisi.”

http://www.nytimes.com/2016/04/13/us/politics/puerto-ricos-prosperous-dc-power-couple.html?_r=0

SQUEEZE PUERTO RICO…IT’S GOOD TO THE LAST DROP

Stone Lion will hire greasy Puerto Ricans like Julio Cabral-Corrada, to sue and screw their own people.

Now that the U.S. Congress created a financial control board, Stone Lion is already using it – even before any board members are announced – as their personal collection agency.

Why?

Because Stone Lion is hungry…no, desperate…for cash.

They will therefore exploit Puerto Rico as much as possible.

They will turn her into a cash cow.

Hospitals…schools…electricity…clean water…these are not the priorities of Stone Lion Capital, or any of the vulture funds that are now suing Puerto Rico.

They want their profits. They want their Christmas bonuses.

Julio wants a new tuxedo.

Right now.

 
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

 

Si prefiere ver la página web en español por favor visite: http://www.guerracontratodoslospuertorriquenos.com
 

15 Comments on “Vulture funds sue Puerto Rico, to stop it from “wasting money” on hospitals and schools

  1. FOR GRONDA:

    GRONDA, THERE IS NO LOGIC. THERE IS NO FAIRNESS. THAT’S THE POINT. IT’S MOSTLY A ONE-WAY STREET WHEN IT COMES TO EQUALITY UNDER THE LAW BETWEEN P.R. AND THE U.S. WHAT’S GOOD FOR THE GOOSE ( U.S. ) IS NOT GOOD FOR THE GANDER ( P.R. ), IN PRACTICE. DO YOU HAVE INDICATIONS THAT WOULD PROVE OTHERWISE?? IT DOESN’T SOUND LIKE YOU HAVE AN ANSWER YET…

    Gronda Morin
    July 25, 2016

    My thinking is simply based on logic. It seems to me that if it is determined by the judicial system that a US company has standing to sue PR, then PR has by definition the same standing to countersue and should. Please don’t discount reader’s questions out of hand. Thank you, Gronda

    Like

  2. Cathy…you summed it up very well…thanks.

    People live first on a personal/familial level.
    And then…about in 9th or 10th place, they live on a political level.

    And when someone has children to feed and protect and elderly parents and grandparents to look after, THOSE priorities are and SHOULD be the highest.

    If you listen to many of political “spokes-putos” here, the 4 MILLION Island residents should grab coconuts and avocados and start throwing them at the White House.

    We already made that mistake when we shot-up Congress a few decades back and some very real people paid HUGE penalties for their politics and their families paid even more.

    Puerto Rico’s future will be written by finer minds than exist today (on the internet).

    Like

  3. This is also so true … “SURVIVING THE BEST WAY THEY CAN. THERE IS MISERY , HUNGER AND FEAR IN THE POPULATION OF THE ISLAND” …… 😦

    Like

  4. You hit it right on the nail … “I DO NOT THINK, THERE ARE — ANY REAL LEADERS” … the Puerto Ricans have been stripped of the real pride of being free. We have accepted the “master” and all its lies. The local politicians are as corrupt as the ones here. It’s a catch “22” situation. A real leader is badly needed …… Maybe it’s tool late. I think all has to be “destroyed” to be rebuilt again … like the phoenix!!! 😦

    Like

  5. DR. REX: DO YOU THINK THAT WITH ALL THE THREATS , THAT HAS BEEN DUMPED AND PUMPED INTO THE MIND OF THE –PUERTO RICAN CITIZENS, THE RE IS GOING TO BE —ANY ONE SHOWING ANY –REBELLION ? OUR BORICUAS BROTHERS ( MEN & WOMEN ) ARE SO—– TERRORIZED BY THE —–FBI— AND ALL THE FALSE THREATS , THAT THEY DARE NO START ANYTHING , THAT WILL COMPROMISED THEIR LIVES, LIBERTY, OR THEIR FAMILIES. .—– THEY ARE —JUST —-SURVIVING THE BEST WAY THEY CAN. THERE IS MISERY , HUNGER AND FEAR IN THE POPULATION OF THE ISLAND. ——-I DO NOT THINK, THERE ARE — ANY REAL LEADERS— IN THE ISLAND, THAT DARE, INCITE THE POPULATION TO FALLOW — ( HIM–OR–HER ) IN RECLAIMING THE POWER AND LIBERATION OF THE ISLAND. —–THEY WILL BE —OBLITERATED, BY THE US ARMY .——PEOPLE STILL HAVE BLINDS ON THEY EYES, ALL STILL AS —-HUMBLE AS THE —- LAMB— ON THE SEAL OF THE ISLAND. THEY STILL TRUSTING THE — PUTRID CORRUPTED —MAGGOTS, —-THAT ARE FESTERING THE ISLAND. IT IS AN UNCERTAIN FUTURE THAT AWAITS THE ISLAND.

    Liked by 2 people

  6. My thinking is simply based on logic. It seems to me that if it is determined by the judicial system that a US company has standing to sue PR, then PR has by definition the same standing to countersue and should. Please don’t discount reader’s questions out of hand. Thank you, Gronda

    Like

  7. ANSWERS FOR GRONDA MARIN:

    Gronda Morin
    July 24, 2016

    Can Puerto Rico countersue?

    IS PR A COLONY? IS PR A STATE? ARE THE ISLANDER’S CITIZEN’S OF THE U.S. LIKE U.S. CITIZENS ARE? DOES THE U.S. CONSTITUTION APPLY TO PR LIKE IT DOES ON THE MAINLAND?

    YOU SHOULD HAVE YOUR ANSWER BY NOW…

    Like

  8. RESPONSE TO JOSE LOPEZ ( IN CAPS ):

    JOSE López
    July 24, 2016

    OTRO DESASTRE MÁS, HASTA CUANDO COÑO

    JOSE: ESTO NUNCA SE PARA. TIENES QUE SABER ESO. NUNCA. SI LA GENTE LO DEJA PASAR…VA PASAR. WHEN ONE HAS A SERIOUS/SIGNIFICANT NATIONAL COMPLAINT, YOU DON’T JUST WALK AWAY FROM IT ( LIKE SO MANY PR’S DO…). YOU EFFECTIVELY DEAL WITH IT. AND IF YOU DON’T, YOU HAVE TO KNOW THAT YOU WILL GET SCREWED. AND YOU WILL KEEP GETTING SCREWED UNTIL YOU GET RID OF THE PROBLEM. THAT SIMPLE. THERE IS NO OTHER SOLUTION. IT’S BECAUSE PEOPLE LIKE THIS DON’T HAVE A CONSCIENCE. AND WHY WOULD YOU CARE ABOUT “UPSETTING” A PERSON ( LIKE PRESUMABLY, THIS JULIO F**K ) WITHOUT A CONSCIENCE?? I KNOW. PR’S ARE TOO NICE OF A PEOPLE. TRUE. BUT, THAT’S WHAT THESE KIND OF PEOPLE PREY UPON. EG: THE MORLOCKS VS THE ELOI. UNTIL THERE’S NOTHING LEFT. WHAT’S WORSE, IS THE ATTACK COMING FROM THE INSIDE.

    AS I’VE MENTIONED ON OTHER POSTS SOCIOPATH’S/PSYCHOPATH’S AND THEIR VILE OPPORTUNISTIC ENABLERS ARE ALWAYS GOING TO BE WITH/AMONG US. IT IS UP TO THE AFFECTED POPULATION TO IDENTIFY THESE F***S AND TO STOP THEM IN THEIR TRACKS, OR ROOT ‘EM OUT IF THEY’RE ALREADY ENTRENCHED. SO THERE SEEMS TO BE AN OPPORTUNITY FOR THE PEOPLE TO STOP THIS YOUNG A*****E BEFORE HE CAUSES TOO MUCH DAMAGE. IF THIS HAPPENS, ( STOPPING THIS P.O.S. ) IT COULD BE SYMBOLIC TO THE REST OF THE ISLANDER’S THAT THE NEXT GENERATION OF ISLANDER HOODLUMS WON’T HAVE A LEG TO STAND ON IF THEY DARE CONTINUE WITH THE DISMEMBERMENT OF THE ISLAND IN EVERY CONCEIVABLE MANNER.

    AGAIN, UNTIL ISLANDER’S GET THE COURAGE UP TO CLEAN THE CLOCKS OF GUY’S LIKE THIS AND THE OTHER’S LIKE HIM, THERE’S NO DISINCENTIVE TO STOP THEIR CRIMINAL BEHAVIOR. NONE. NONE…..NONE.

    I HEARD THIS GUY “JULIO” ON YOU TUBE, LAMENT ON HOW THERE WAS NO DEMOCRACY IN PR AND THAT IT WAS A COLONY OF THE U.S. YET, HE’S EMBARKING ON THIS TAC. MEANING: TO TAKE ADVANTAGE OF THE BASTARDIZED ( ANYTHING GOES, AS LONG AS YOU’RE HOOKED UP W/THE RIGHT PEOPLE..) CONSTITUTIONAL STATUS OF THE ISLANDERS. WHAT’S THERE LEFT TO SAY? ONE THING LEFT FOR ME TO MENTION IS THIS: THIS GUY GRADUATED FROM A JESUIT COLLEGE PREP SCHOOL AS I DID ( A GENERATION BEFORE ). I DON’T THINK THAT WHAT HE’S DOING IS ANYWHERE NEAR CLOSE WHAT THE JESUITS ARE ABOUT. OR IS IT?? BECAUSE, ON THE OTHER HAND, I DON’T HEAR THE CATHOLIC CHURCH/JESUIT LEADERSHIP SCREAMING ABOUT ALL THE BAD THAT’S GOING ON IN PR. AND, IT’S BAD. NOT ONCE THAT I COULD FIND ON THE WEB. AND IT’S BEEN GOING ON FOR A WHILE. MAYBE, JUST MAYBE, THE JESUITS SOMEWHERE UP THE CHAIN ARE GETTING SOMETHING OUT OF IT. TO PUT IT BLUNTLY: IT’S NOT THE KIND OF NAME I WANT ASSOCIATED WITH MY SENSE OF BELONGING TO THE JESUIT COMMUNITY. SO, THERE’S SOME WORK TO BE DONE BY THE JESUITS ON THIS ONE. FAST WORK. BECAUSE I’M ALREADY LOSING FAITH. I DON’T RESPECT DOUBLE DEALERS IF THAT’S THE CASE.

    JUST ONE MORE NOTE: YOU KNOW HOW WE ALL GOT “OUR EDUCATION ABOUT THE ISLAND OF PR” IN GRAMMAR SCHOOL? ( THEY KEPT IT MOSTLY IN GRAMMAR SCHOOL, SO NOT TO MANY “DEEP” QUESTIONS MIGHT BE ASKED BY THE STUDENTS… AND SUBSEQUENTLY BY THEIR PARENTS. ). WELL, AS YOU WELL KNOW BY NOW, MOST OF IT WAS B.S. BUT, PROBABLY THE BIGGEST OMISSION OF INFO. AS IT RELATES THIS BLOG, WAS THAT OF HOW BUSINESS HAD BEEN/IS CURRENTLY CONDUCTED ON THE ISLAND. MY GUESS, IS WHEN IT COMES TO VULTURE FUNDS AND THE LIKE; OR VENTURES OVER THE DECADES PAST; THAT THEY PROBABLY FOLLOWED A SIMILAR MODEL: “IF OUR VENTURE F***S UP, NO PROBLEM, THE TAXPAYERS WILL PICK UP THE TAB. NOT JUST THE PR TAXPAYERS…BUT RATHER, THE THE U.S. TAXPAYER PROBABLY GET’S HIT WITH MOST OF IT.” THINK ABOUT IT, HAD ALL THOSE KIDS ACROSS THIS NATION AND ON THE ISLAND HAD KNOWN THAT LITTLE UNKNOWN PROBABILITY….ALL HELL WOULD HAVE BROKEN LOOSE. AND THE PARTY WOULD HAVE BEEN OVER. HOPEFULLY, WITH MORE REVELATIONS LIKE THESE, AND SUBSEQUENT ACTION FROM THE ISLANDER PR’S, THE LIGHTS WILL BE TURNED OFF VERY SOON FOR MF’ER’S LIKE THESE; AND FIND SOME OTHER JOB, WHERE THEY’RE ACTUALLY PRODUCING SOMETHING/CONTRIBUTING TO THE WELL BEING OF SOCIETY, INSTEAD OF THE LEACHES THAT THEY ARE.

    THANKS AGAIN REMY FOR THESE POSTS. JOSE, IF YOU LIVE ON THE ISLAND, TE TIENES QUE LEVANTAR, IF YOU HAVEN’T ALREADY.

    Liked by 1 person

  9. The honest investors were cheated out of any possible redemption. These guys paid pennies on the dollar and don’t really own PR. They took a risk, too. And lost.

    Like

  10. * ** PUERTO RICO QUE ESPERA ***
    Julio Cabral-Corrada…y los Politicos vendepátria
    Que espera Puerto Rico: Demanda a los Estados Unidos por Engaño y Incumplimiento. Estamos otaves en los pricipios de 1898 ; nos prometieron libertad y nos dieron esclavitued.

    Liked by 1 person

  11. KE PRODREDUMBRE, DE CORRUPTOS, TRAIDORES, -BORICUAS- COEGADOS POR LA AMBICION, HASTA EL PUNTO DE VENDER Y TRAICIONAR LA PATRIA . SON UN —-ASCO DE HUMANOS .

    Liked by 1 person

  12. C’mon guys…Julito is little more than the latest in a long line of empty Cheetah-thongs parading around Palmas del Mar looking for his pastel-colored golf-cart to take him to the next ever-flowing PIna Colada fountain…he isn’t worth the saliva it would take to spit on his gel’d hair-do.

    One day, when the guillotines of justice are FINALLY constructed outside of La Fortaleza, HE will be one of the first to walk up the bloody steps to meet that rusty, jagged blade and even starving sharks won’t bite into his head-less carcass when it is thrown into the harbor.

    Like

  13. Reblogged this on It Is What It Is and commented:
    Oh, really??
    “A consortium of vulture funds is suing Puerto Rico in federal court, demanding that the Commonwealth “stop wasting its assets” on payments to local hospitals and schools, until the Financial Control Board (FCB) arrives in September 2016.”
    #StandUpToPromesa … When injustice becomes law, rebellion is duty!!

    Liked by 1 person

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