Puerto Rico: Lingering Questions for Banco Popular’s Richard Carrion
Late last year, we posed several questions to Banco Popular President and CEO Richard Carrion, in conjunction with his appearance as a witness during a Congressional hearing on Puerto Rico’s public debt.
Our questions centered mainly upon his recent emergence as a staunch advocate of a unilateral restructuring of Puerto Rico’s debt, a bizarrely anti-lender stance for the head of the Island’s largest bank. Among our questions, we asked how Carrion’s bank had avoided the severe exposure to Puerto Rican debt experienced by the Island’s other lenders and citizens, and why Popular – a private sector leader by any definition – has been so reluctant to align with other private sector actors in negotiating a consensual debt solution between Puerto Rico and its lenders.
While a TSA agent pawed my hair bun this weekend, presumably on high alert for improvised explosive bobby pins, I pondered the latest news on the Somalia airplane terror attack.
Intelligence officials released video footage of airport employees in Mogadishu handing a laptop to a jihadist suspect before he boarded Daallo Airlines Airbus Flight D3159 last week. The device allegedly contained a bomb that exploded on the plane, which created a massive hole out of which the bomber was fatally sucked. Two other passengers were injured in the blast before the pilot successfully made an emergency landing.…
"Watching last Thursday's debate between Democratic presidential candidates Hillary Clinton and Bernie Sanders, one might have thought a Republican had been in the White House for nearly eight years. Hearing their complaints about the economy (bad), discrimination (rampant), health care (too many without it), unemployment (too many not working or working at low-paying jobs), it appeared hope had died…[more]