Puerto Rico Debt Crisis: Richard Carrion Is a Problematic Witness Sitting Alongside Governor Garcia Padilla
At today's Senate Judiciary Committee hearing on Puerto Rico's fiscal situation, Governor Alejandro Garcia Padilla will likely face tough questioning from Senators displeased with his handling of the island’s economy. Sitting alongside Gov. Garcia Padilla to face those questions will be a close friend from the Commonwealth’s financial sector: Banco Popular Chairman and CEO Richard Carrion.
Carrion, whose bank is no stranger to asking for federal assistance - it received almost $1 billion in TARP funding from the Treasury (which it did not repay until July 2014) - is a longtime Garcia Padilla supporter who continues to maintain a close relationship with the Puerto Rican government. Additionally, Banco Popular's General Counsel Javier Ferrer is the former GDB President under Gov…[more]
A CBS News/New York Times poll released earlier this week contains an amazing statistic: More than half of GOP voters’ first choice for their party’s presidential nomination is someone who has never held elected office before. Among them, Donald Trump, Ben Carson, and Carly Fiorina win the support of 54 percent of the Republican electorate.
The conventional wisdom is that this represents a distaste for professional politicians reaching a boiling point. There’s probably some truth to that. There’s also, however, a danger in over-reading these results. We still have four-and-a-half…
"Congress recently forbade President Obama from bringing Guantanamo inmates to the United States, or even preparing a place in the U.S. to which the terrorist prisoners might someday be transferred. The specific action Congress took was to renew earlier bans on the president spending any appropriated funds for those purposes. Republicans and Democrats spoke in a strong and unified voice; 370 members…[more]