Puerto Rico protests: a global DAY OF ACTION against Santander Bank

War Against All Puerto Ricans: Revolution and Terror in America’s Colony

On Monday June 12, from 12 noon to 2 pm, a massive protest will occur at 1290 Ave. of the Americas (51st street). The protest is against Santander Bank.

Two Santander executives are sitting on the Puerto Rico Financial Control Board (FCB) even though Santander helped to underwrite $61.2 billion of the island’s  $72 billion “debt,” and received close to $1 BILLION in management fees for helping to create this “debt.”

These two members of the FCB are Carlos Garcia and José Ramon Gonzalez


The conflict of interest of these two men is so deep, so surrealistic, that it could only happen in two locations: Puerto Rico and Macondo.

Before their appointment to the FCB, Garcia and Gonzalez moved between top positions in Puerto Rico’s Government Development Bank/GDB (which issues the island’s government bonds) and Banco Santander (the Spanish-owned mega-bank that bought and structured the vast majority of those same obligations).

A recent report, titled “Pirates of the Caribbean,” found that Garcia and Gonzalez helped Santander Bank to bilk the treasury of Puerto Rico.


For example, the Santander loans cost Puerto Rico $1.5 billion in “capitalized” interest payments: that is, the island was borrowing to pay the interest on its loans. 

Santander was also the lead underwriter on over $2.5 billion in predatory debt deals that are now part of the island’s alleged “debt” to Wall Street interests.

According to the report, a 2009 bond issue from Santander netted Puerto Rico only $139 million, but required it to pay back $730 million: five times the value of the loan.


Santander is a repeat abuser of Puerto Rico’s financial integrity.

In 2011 and 2016, the Financial Industry Regulatory Authority (FINRA) forced Santander to pay $15.4 million for its fraudulent bond practices in Puerto Rico, which included the short sale of toxic “junk bonds” to unsuspecting investors.

These junk bonds are part of the portfolio, which Santander now claims that Puerto Rico must pay, as part of its alleged “debt.”

For nearly ten years, it has orchestrated a systemic robbery of Puerto Rico’s treasury, facilitated political graft and corruption throughout the island.

Now – through a so-called “Financial Control Board” – the Santander Bank (headquartered in Spain) is demanding that the working class of Puerto Rico must pay for the Santander banquet.

In effect, Santander is a Robin Hood in reverse.

They even have two mercenaries – Carlos Garcia and José Ramon Gonzalez – sitting on the Financial Control Board, to ensure that Robin robs the hood.


For this reason, a Global Day of Action has been scheduled for Monday, June 12.

Here are the details again:

Global Day of Action Against Santander Bank 

Monday, June 12, from noon to 2 pm 

1290 Ave. of the Americas (51st street)


At that same time (June 12, from noon to 2 pm) there will also be a DIGITAL action.

We can all Tweet and share posts with the hashtag #PeopleVSSantander targeting @Santander and @CarlosGarcia demanding to hold them accountable for their Ponzi Schemes and money laundering…

And demanding the cancellation of a “debt” that is illegal and unconstitutional.


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


7 Comments on “Puerto Rico protests: a global DAY OF ACTION against Santander Bank

  1. The wickedness of these men will not go unpunished. There is a God who sees everything. I pray that our Lord causes this to be resolved soon.


  2. The US has the last word on anything /everything that the colonial government does now as it has been since the invasion of US forces in 1898. The financial crisis is caused by The US for its benefit to the detriment of The Boricuas. The only solution is revolutionary. The colony must end together with the internal and external corruption that is endemic to colonialism. Boriquen must be free to have a local government without interference from The US and The Us must take responsibility to invest in developing an infra-structure that is free from exploitation of Boricuas, so that in 10 years we can have a democracy that is self-sufficient to thrive as a nation or as a state.


  3. Reblogged this on It Is What It Is and commented:
    Global Day of Action!! Bank of Santander & ‘The Board’ are in ‘cahoots’ against the people of Puerto Rico! 🇵🇷


  4. They are a bunch of white collar thieves . the financial control board is also screwing Puerto Rico . it cost P.R. 3 million a months 63 million a year for the F.C.B. to gather in fancy hotels to talk shit . up till now they have done nothing for the island . The government keep mi spending money they don’t have and the F.C.B. don’t say shit .


  5. I understand your reporting about Puerto Rico’s debt problem but I will no longer support your approval of Lopez Rivera. He is a criminal and no matter how you write about him. Terrorizing is not a answer to Puerto Rico’s debts or independence.


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