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.
At the risk of allowing a wish to replace a thought, maybe the student unrest on college and university campuses across the country this week and last will hasten the collapse of the higher education bubble.
Let’s face it, it’s long overdue.
America spends far too much money on far too many student amenities and far too little on education. In the 2012-2013 academic year, post-secondary schools — public, private and for-profit — spent $499 billion. Of that, 27 percent went to classroom instruction at public institutions, compared with 33 percent at private universities…
"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]