The truth begins to leak out: the Financial Control Board will “not fix anything” in Puerto Rico

The “Financial Control Board” is nothing but a collection agency for the hedge fund people. Continued gouging of PR’s economy & it’s people! SMH ..


Book - 12-10

For nearly a year Republicans, hedge funds, and Wall Street lobbyists called for a Financial Control Board (FCB) to “fix” Puerto Rico’s economy.

Now the US media are slowly admitting that the FCB will not really fix anything, other than ensure that bondholders and hedge funds will receive their expected earnings.

The Financial Control Board arrives in Puerto Rico

This “shocking” admission was issued by Reuters this week, under the headline Puerto Rico Fix Unlikely to Resemble Detroit’s.

Plainly and boldly, the article states that:

  • the seven members chosen for the FCB are “short on expertise in economic development”
  • the Puerto Rican economy requires fundamental changes, but it is “unclear whether the board can facilitate such change”
  • the seven chosen members are “technocrats” who will treat the entire process as a “corporate re-structuring,” and will not “politicize” the process with concerns about pensions, job losses, or minimum wage…

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About Dr. Rex

I'm originally from Puerto Rico. I was born in Santurce and raised in Rio Piedras. Have lived in Florida since 1999. I have a doctorate degree in Medicine; completed in 1976. My Internal Medicine specialty was completed in 1979. Worked for Puerto Rico's health system until 1985. At this time, I'm happily retired after working for the federal government for almost 28yrs. I want to offer any knowledge that I have to anyone "out there" who is interested. My views are liberal in almost every sense. My knowledge is "eclectic" - a bit of everything. Music and reading are my passion. Blogging has also become a very interesting endeavor. Metaphysical topics attract me. I'm interested in news reporting human issues like injustice, discrimination and abuse - the "wrongly" affected. My intention is to bring this knowledge to an understandable level and to help anyone in need. I'm open to questions and will answer them to the best of my ability. Currently working on an enterprise whose main mission will be to bring peoples of all walks of life together. To be one .... since we ALL are ONE!! The future looks bright and promising!!!

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