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 ruling from a federal judge in Texas has put a temporary halt to President Barack Obama’s amnesty program for as many as five million illegal immigrants. According to some Senate Republicans, it may be just enough cover to abandon legislative efforts challenging the assault on the rule of law.
“Most of us felt like the courts gave us a major victory,” Senator Bob Corker (R-TN) told reporters for National Journal. “Sometimes it makes a lot of sense to bank victories and move ahead.”
Corker was speaking in support of Majority Leader Mitch McConnell’s (R-KY)…
"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]