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.
Donald Trump released his tax reform plan this week. Which is to say, this is Trump’s 2015 tax reform plan. His previous statements deriding Reagan- and Bush-era tax cuts, advocating a wealth surtax, and touting the virtues of a European-style Value Added Tax on goods and services should henceforth be considered null and void.
Trump took to the pages of the Wall Street Journal on Monday, where he explained his proposal in a Trump-like fashion.
“My approach to tax policy will do just what needs to be done.”
“As president, I will pursue policies that will ensure huge economic…
"The Supreme Court halted the EPA's major anti-global warming initiative late Tuesday evening, dealing a major blow to President Obama's hopes of overseeing a green energy transition in his final year in office. The 5-4 decision by the court puts the Environmental Protection Agency's regulation on hold while a lower appeals court hears states' challenge to the rules. More than two dozen states sued…[more]