“Financial Control Board takes over … “! Everything is happening behind closed doors.
This is a very sad day for me!
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:
- The Commonwealth government
- The pension & retirement systems of all public workers and the judiciary
- Teacher’s retirement system
- University of Puerto Rico
- 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 …
View original post 197 more words