Biden criticized Donald Trump’s appointment of a hedge fund consultant, Justin Peterson, to the Board and is now doing exactly the same.
Statement by Power 4 Puerto Rico on the State of the Union
POWER 4 PUERTO RICO APPLAUDS HOUSE PASSAGE OF BILL TO BAN CONFLICTS OF INTEREST IN FEDERAL FISCAL BOARD PROCUREMENT CONTRACTS
Among the conflicts that prompted PRRADA were revelations that McKinsey, contracted by the Junta, had a subsidiary with investments in Puerto Rico debt, while advising the Junta on restructuring that same debt.
THE SAFETY OF PUERTO RICAN WOMEN CANNOT BE AT THE MERCY OF A WALL-STREET-DRIVEN FISCAL CONTROL BOARD, AKA LA JUNTA
”What is also an outrage is that the Financial Oversight and Management Board (FOMB) only days before the bodies of Keishla Rodríguez Ortiz and Andrea Ruiz Costas were found determined that a mere $200,000 —instead of the $7 million originally requested— would suffice for an officially declared state of emergency on gender violence
Power 4 Puerto Rico Supports Amendments That Would Check Wall Street-tilted Fiscal Control Board, aka La Junta
May 22, 2020
FOR IMMEDIATE RELEASE
Power 4 Puerto Rico Supports Amendments That Would Check
Wall Street-tilted Fiscal Control Board, aka La Junta
Coalition reiterates call on Congress to pass meaningful debt relief legislation
for Puerto Rico and to work towards repealing the PROMESA federal law
WASHINGTON, DC – The Power 4 Puerto Rico coalition, composed of diaspora and allied groups advocating for Puerto Rico and displaced families, today came out in support of legislation that would address some of the most severe issues in the Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA) federal law. Through an undemocratic, unelected Fiscal Control Board (known in Puerto Rico as “la Junta”), PROMESA has imposed crippling austerity measures in the island that have further encroached on the already limited form of self-government of Puerto Rico in order to pay Wall Street bondholders at the expense of working Puerto Rican families.
PUERTO RICO’S DEBT NEEDS TO BE CANCELLED, RESERVE FUNDS USED TO HELP EARTHQUAKE/HURRICANE VICTIMS, NOT WALL STREET
Jan. 23, 2020
WASHINGTON, DC – Today, the Power 4 Puerto Rico Coalition reiterated its call for Puerto Rico’s debt to be discharged, and for billions in reserve funds meant to pay down the island’s debt to instead be used to rebuild homes and provide shelter for tens of thousands of earthquake and hurricane victims whose homes and communities were destroyed by a series of natural disasters starting in 2017. The diaspora based coalition also called on the Financial Oversight and Management Board (FOMB or the “Junta”) imposed by Congress on the island to authorize the use of billions of dollars it forced the Commonwealth to set aside to pay down Puerto Rico’s public debts to help the victims of Hurricanes Irma and Maria and the recent earthquakes that have rocked the island.