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Tuesday, August 22, 2017
Puerto Rico
Trump campaign, Lewandowski

Puerto Rico Turns To Lewandowski To Lobby Trump On Debt

The newly elected governor of Puerto Rico is in discussions to hire Lewandowski’s lobbying firm, at a time when the island’s creditors are hoping that the incoming Trump administration will be more sympathetic to them than the Obama administration has been.

January 13, 2017
People protesting against first seminar of the Puerto Rico Oversight, Management and Economic Stability Act (PROMESA), chant slogans as they try to prevent participants from entering the hotel which is scheduled to be the venue of the seminar, in San Juan, August 31, 2016. REUTERS/Ana Martinez

U.S. Officials, Legislators Choose Puerto Rico Control Board: Source

The board was created under the federal law known as PROMESA, passed earlier this year, which will bring Puerto Rico’s finances under federal oversight and give it the authority to restructure some of its $70 billion in debt.

August 31, 2016
Test tubes with blood samples from patients who have been tested for Zika are seen at the maternity ward of the Hospital Escuela in Tegucigalpa, Honduras April 15, 2016. REUTERS/Jorge Cabrera

One Quarter Of Puerto Rico Expected To Contract Zika Virus By The End Of 2016

The Centers for Disease Control estimates that a full quarter of Puerto Rico’s residents will be infected with the Zika virus by the end of 2016. That dire warning was initially made in June, as health officials noted the disease was spreading at previously unexpected speeds.

August 17, 2016
U.S. Treasury Secretary Jack Lew (L) and Puerto Rico's Governor Alejandro Garcia Padilla (2nd R) listen to kindergarden teacher Gloria Rivera during their visit to the elementary school Eleonor Roosevelt in San Juan, Puerto Rico, May 9, 2016. REUTERS/Alvin Baez

Puerto Rico Still Seen Defaulting On Debt Even With Rescue Law

Investors in Puerto Rico‘s debt-burdened economy still face risks of default on some of the island’s $70 billion in debt even after the U.S. Congress on Wednesday created a powerful federal oversight board to manage credit restructurings. U.S. President Barack Obama says he will quickly sign the Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA) before the U.S. territory […]

June 30, 2016
Members of labor unions march past the capitol building during a protest in San Juan September 11, 2015. REUTERS/Alvin Baez

Puerto Rico Debt Bill Cleared For Thursday U.S. House Vote

Supporters hope to get it enacted into law before July 1, when Puerto Rico faces a deadline for making a $1.9 billion debt payment that it might not be able to fulfill.

June 9, 2016
A worker takes off U.S and Puerto Rican flag after rally of U.S. Democratic presidential candidate Bernie Sanders in San Juan, Puerto Rico, May 16, 2016. REUTERS/Alvin Baez

Sanders Is Lunging Left On Puerto Rico’s Debt Crisis

Most Democrats back a bill to passed by the House of Representatives to address the Puerto Rican debt crisis, but Sen. Bernie Sanders is asking for more. The bill, spearheaded by Speaker of the House Paul Ryan and endorsed by the Obama administration, would institute a federal oversight board, with members chosen by the White House and Congress, to renegotiate Puerto Rico’s debt.

June 3, 2016
A protester holding a Puerto Rico's flag takes part in a march to improve healthcare benefits in San Juan, Puerto Rico, November 5, 2015. REUTERS/Alvin Baez

Financial Woes And Zika Virus Threaten Puerto Rican Tourism

With dozens of storefronts shuttered, bearing signs that read “se vende” — “for sale” — the marks of Puerto Rico’s ongoing debt crisis are made visible throughout the main city of Old San Juan. As the cash-strapped U.S. territory missed most of another debt payment earlier this month, it has had to contend with another crisis: namely, the Zika virus.

May 23, 2016
A protester holding a Puerto Rico's flag takes part in a march to improve healthcare benefits in San Juan, Puerto Rico, November 5, 2015. REUTERS/Alvin Baez

House Panel Delivers Puerto Rico Crisis Bill, Debt Looms

U.S. lawmakers on Thursday began coalescing around revised bipartisan legislation to help address Puerto Rico’s unpayable debt burden that now threatens a full-blown humanitarian crisis. Released close to midnight on Thursday, the House Natural Resources Committee’s revised bill includes a strong oversight board to direct how and when the island pays its bills and leaves […]

May 19, 2016
A woman carries bags while walking in a commercial area with stores either closed or offered for sale in San Juan, Puerto Rico, July 31, 2015. REUTERS/Alvin Baez

Hedge Funds Have Taken Puerto Rico Hostage

In February 2014, Puerto Rico’s bonds were declared junk by Standard & Poor’s — that’s the technical term. The following month, the territory sold $3.5 billion of them, mostly to U.S. hedge funds. It was the final deal in a selling frenzy: $126.6 billion worth of bonds were issued by the central government, various utility companies and other agencies, and the island’s sales tax-based finance corporation. Wall Street netted an estimated $900 million in underwriting fees.

May 13, 2016
Puerto Rico's Governor Alejandro Garcia Padilla addresses the audience at

Puerto Rican Bonds And The Small Investor

What prompted ordinary investors to put their savings into Puerto Rican bonds? But first let’s look at who is running the ads.

April 28, 2016

Marco Rubio’s Radical Alignment With The Financial Industry

The establishment “lane” has gone to Marco Rubio. That lane has become far more radical, and far more in sync with financial wealth, than anyone should have expected a year ago.

February 22, 2016

‘Bond Predators’ On Puerto Rican Debt Want Their Bailout

Washington Republicans are lining up to make sure that the American taxpayer foots the bill for Puerto Rico’s debt crisis — and not the private speculators who made risky investments. Funny how fast these “fiscal conservatives” forget their distaste for bailouts when their Wall Street benefactors come knocking.

December 29, 2015
Puerto Rican flag float parade

Schools Look To Puerto Rico In Search Of Bilingual Teachers

Puerto Ricans are already U.S. citizens, and don’t need a visa if they want to live on the mainland.

October 14, 2015

In Political Move With Risks And Rewards, Charlie Crist Explores Visit To Cuba

By Marc Caputo and Adam C. Smith, The Miami Herald MIAMI — In a move that would have been unthinkable for any statewide Florida candidate just a few years ago, Charlie Crist is planning to visit Cuba this summer. Nothing is final, but the Democratic candidate for governor is eager to learn more about Cuba as […]

May 8, 2014

Visiting Puerto Rico, But Florida Is On Obama’s Mind

President Obama visits Puerto Rico next week–it’s the first time since Kennedy that a president will make an official stop–and while the trip will deal with local issues, it can also be seen as something of a 2012 campaign stop in Florida, which has seen a big jump in immigrants from the island territory in […]

June 10, 2011