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.
Storm trooper tactics by bands of college students making ideological demands across the country, and immediate preemptive surrender by college administrators — such as at the University of Missouri recently — bring back memories of the 1960s, for those of us old enough to remember what it was like being there, and seeing first-hand how painful events unfolded.
At Harvard, back in 1969, students seized control of the administration building and began releasing to the media information from confidential personnel files of professors. But, when university president Nathan Pusey called…
"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]