At today's Senate Judiciary Committee hearing on Puerto Rico's fiscal situation, Governor Alejandro…
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]