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.
Carly Fiorina is articulate, thoughtful and accomplished. For those who keep track of such things, she was the first woman to lead a Fortune 50 business, and she ran a credible, if unsuccessful, campaign for a U.S. senate seat from California. In the early going of the race for the Republican presidential nomination, she is receiving enthusiastic responses from Republican audiences.
Though I've long been skeptical of non-politicians running for president of the United States, I'm open to the possibility that she has what it takes -- but only if the premise is that she is offering something besides…
"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]