Financial Control Board takes over the economy of Puerto Rico

Book - 12-10

The first meeting of the US Financial Control Board over Puerto Rico (FCB) lasted only 30 minutes. But this was enough time for the FCB to take over the island’s entire economy.  

The FCB declared its jurisdiction over the island’s electrical grid (PREPA), water supply (PRASA), university system (UPR), central bank (BGF), and the all the public pension & retirement systems.

But the Control Board did not stop there.

As shown by the following list, the FCB now has dominion and control over the entire public infrastructure of Puerto Rico:

  1. The Commonwealth government
  2. The pension & retirement systems of all public workers and the judiciary
  3. Teacher’s retirement system
  4. University of Puerto Rico
  5. All public corporations, including:           

(a) electricity and power (PREPA)      

(b) water and aqueducts (PRASA)

(c) highway and transportation

(d) public housing          

(e) port authority          

(f) convention center         

(g) public finance          

(h) housing finance   

(i)   municipal finance          

(j) Economic Development Bank

(k) Government Development Bank (GDB)

(l) Industrial Development Company

(m) Tourism Company

(n) Public Finance Corporation

(o) State Insurance Corporation

(p) Children’s Trust Fund

(q) Sales Tax Authority (COFINA)

(r) Public Private Partnership Authority

This extensive list begs two questions to be asked:

  1. What is the point of holding elections in Puerto Rico, during the reign of this FCB? Any Puerto Rican “government” during this period will be an international joke. 
  2. The FCB had allegedly “never convened” before this 30-minute meeting. But how could they develop this detailed and extensive agenda, if they had “never met” before?


It appears that most of the FCB decisions are occurring behind closed doors, and outside the public view.

They have conference calls, luncheons, conversations and “retreats,” which are not technically “meetings” but are the de facto means of discussing business and generating consensus.

Then they hold a 30-minute meeting, where they take over an entire national economy with remarkable speed, minute detail, and surgical precision.

Then they hold a 15-minute press conference, where they declare their “openness and transparency.” 

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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18 Comments on “Financial Control Board takes over the economy of Puerto Rico

  1. Financial mismanagement. These people are not public servants–real public servants world be modest in their spending. Shows the respect Congress has for Puerto Ricans; the board represents a unconstitutional tax and commandeering of local government. They only get away with it as much as the Island gov. plays along though.


  2. I read many of the Americanized Puerto Rican comments posted on this thread and it leaves me to understand why the U.S. Government still can manage to puppeteer concensus in their favor. It is evident that most Puerto Ricans are not aware of the historicity that has Lead to the current financial instability on the island, and they all have this endearing love affair with the country that has abused it for over 100 years without knowing the details of the machinations devised by these outside terrorist that paint a smiley face and a “Democracy” blather to deceive their unsuspecting patsy.

    America is not our savior, they are the culminating reason for the Island’s dissolvement of any form of autonomy that would lead to independence and sovereignty that doesn’t favor the agenda of having the island subservient to their military and geostrategical whims.

    If Puerto Ricans don’t stop drinking the “American Dream” propaganda kool-aid we’ll find the island no longer represented in pride of character by self identified Borinquen, but subject offshore 3rd world sweat shops aimed at supporting the economy necessities of their U.S. landlords.

    Whomever (among Puerto Ricans) that is still drooling over the unrealistic delusion that P.R. will someday become a state of the U.S., you need to do your due diligence and stop this obsurd obsession of something that Americans themselves DON’T EVEN WANT. You are considered nothing more than “Useful Idiots”, that need their imperialist master to stoop down, pat your head, and tell you what a good boy (Dog) you are in compliance with your masters behest.
    Coñ‎o mi gente, que es lo que se necesita para abrir los ojos al desengañ‎o de nuestra condicion colonial?


  3. True home grown politicans are corrupted but s**t rolls downhill,it starts with US colonizing PR the first thieves….Lo q habia era burreo,free for all….Independence will eraticate political corruption because it’s the only way people will wake up and protest by the masses.

    Liked by 1 person

  4. The Natives had a responsibility to control their politicians. They failed miserably. Considering our history, they should have been on their toes. They got too comfortable. And now, this is unacceptable. The leader of the financial board ruined NY financially. It’s an insult to our intelligence. I believe it is time for statehood. I don’t believe the answer is leaving the umbrella of the most powerful nation in the world. I do believe in making America accountable. Why should the natives have to take the chance of other nations invading after departing from America. No, become a state and have representation and the right to vote in the U.S. elections. Why not get the rights that every citizen of the U.S has? As I see it, they are going to take what they want anyway. Is it me? I don’t live on the Island so honestly, it’s not my decision to make.


  5. no statehood because we wil be another Detroit Michigan with a Flint water issue and left to fend for ourselves like the naive American natives.

    Liked by 1 person

  6. Most of the people who are commenting have not Read “War Against al Puerto Ricans”. It’s obvious because most are saying things that do not make sense ….Like: They are pushing PR into statehood!!!!!….. OR…. Embarrassing because their own Public Officials put us through this !!!!!!! OR …..Telling people to vote not because of their Last name??!!!!! I Believe Angel read the book! ….We ARE Guests in our own island because they own it ALL… and the little that is left Puerto Ricans are leaving the island behind and washing their hands and saying F-ck it! If we Read The Book You Will understand that this has been in place by Congress for years. We are feeling it now because of the loss the USA has been going through due to their own mismanagement of Funds. This has caused them to be VERY OPEN In Their INTENTIONS AGAINST THE ISLAND. What has also made it EVIDENT/Obvious has been the widespread use of social Media. So Now It a little harder to keep us in the dark!


  7. Unfair..blah blah blah…it has to be fixed. Obviously the current people in charge haven’t fixed it. Let USA do it. They will stop the corruption. Bring back the wonderful excitement back to Puerto Rico. Its sad seeing boarded up businesses when there’s no hurricane coming.


  8. I’d say it was about time someone did something about Puerto Rico’s down fall spiral. Which in turn are the ignorant ,home grown,thieves elected to steal from the non educated people that do not know politics. I’ve lived in Puerto Rico for several yrs and couldn’t deal with poor hospitals,poor education,milk costs $6.00 a gallon ladies and gental men! Coffee cost more if it’s from the island,everythings expensive cause the thieves start at the very top and work there way down to your own family. Thank you AMERICA! SOMEONE HAS TO DO SOMETHING😁


  9. A friend of my said to me that why can the Government of PR send the Puerto Rico National to stop this but I told him that the government can’t do this. Am I right?

    You are correct.

    The Puerto Rico National Guard is a subdivision of (and subservient to) the US military.

    The Puerto Rico National Guard may be called into federal service in response to a call by the President of the United States, or by the US Congress.

    In other words, Puerto Rico does NOT have ultimate authority over its own “National Guard.”

    The US government does.

    –Nelson Denis


  10. What they are after is Puerto Rico itself. Colonialism has made many believe that they’ve come to help. But it’s like a 100 years ago. They want to slice the cake that is Puerto Rico and sell/eat it. We will become guests in our own island. curse them

    Liked by 1 person

  11. Why amazed? This is par for the course!

    Puerto Rico, the geographical territory, is property of the Hegemón, Amrika. Puerto Rico, the society, has mostly chosen allegiance to the Empire. Puerto Ricans, the persons, are of a divided nature.

    It seems like it’s time to continue waking the Puerto Ricans to their true power: Choice. For that, they need to know WHAT is happening (you’re doing great work here!), WHAT alternatives exist, and HOW to get there from here.

    ALTERNATIVES EXIST! All it takes is knowledge of choices, and routes to take.

    Any takers? Anyone willing to ask?


  12. The Vulture US Financial Control Board is just like Wells Fargo banks, pay off all the big Honchos with big bonus and screw the little guy by firing them. Their no better than Bernier Madoff. Another crop of thieves who should be in jail. The sad part of this story is their going to get away with this. Jim Crow laws still rules. Modern day slavery is staring Puerto Rico in the face and no one is batting an eye. Don Pedro Albizu Campos was right when he stated nationalism is the only salvation because it causes to be reborn in each of the conscious of a free man for which human dignity is priceless and who cannot conceive why he should not have the right to govern the destiny of his children and his homeland. Coño Despierta Boricua!!!


  13. I say it is unfair to the Puerto Rican people that they have to go through this Embarrassing issue that the own Government Official has put them through. I know that in order to get this Straightened out has to be fast for the future of all Family of the Island and in the future the people will have to be very careful for the people they want to Govern over their Lives by doing more research of their Background And do not Vote for them because of their last Name and how Many Friend they know in the Political Arena. Do your own Research on all the Individuals that are running for any Government position and do it from your heart and not for hear sake.


  14. I see both sides, their pushing Puerto Rico towards statehood.


  15. What is the point of holding elections you ask? It creates the illusion of democracy where there is none. And may i say Barack Obama signed this without any regard to common sense, logic and Decency,(funny that idiot Dinesh DeSouza claims Barack to be anti-colonial).
    They put an “estadista” that collects money for the republican party in control of PR.


  16. What do you think are the pros and con of the FCB in regards to PR and US?


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