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ICYMI: Peter Roff Eviscerates Super Control Board Corruption Clause

June 28, 2016

Earlier today, columnist Peter Roff wrote an op-ed in The Daily Caller, in which he expertly denounced one of the most deeply troubling aspects of the PROMESA legislation: the bill’s open encouragement of corruption by allowing the Super Control Board to accept gifts from stakeholders like labor unions. He writes, “In this one provision lay […]

Exposing the White House’s Tall Tales about PROMESA

June 27, 2016

Ahead of the House vote on PROMESA earlier this month, National Economic Council Director Jeffrey Zeints published a “mythbusters” blog about PROMESA. Despite its title, the post was mostly a false propaganda tool designed to promote some of the Obama Administration’s favorite tall tales about the bill, in a clear effort to sway lawmakers on […]

Improving PROMESA

June 23, 2016

Recently, the Republican Policy Committee published an analysis in favor of the PROMESA legislation. The bill has some major deficiencies, which we believe must be overcome to make this bill a workable solution to the crisis facing Puerto Rico. A few facts to start: The House version of PROMESA does in fact grant Super Chapter […]

Where is the Money, Secretary Zaragoza?

June 22, 2016

On Sunday, Puerto Rican Treasury Secretary Juan Zaragoza penned an op-ed in El Nuevo Dia appropriately titled “Where’s the money?” In it, Secretary Zaragoza laments a decade and a half of broken fiscal policy on the part of Puerto Rico’s government, and asks why the government’s once seemingly endless river of cash has dried up […]

Main Street Bondholders Applauds Bipartisan Passage of Legislation that Supports General Obligation Bondholders

June 22, 2016

Puerto Rican Legislators Demonstrate PROMESA is Unnecessary WASHINGTON – Main Street Bondholders applauds the bipartisan work that Representatives Tatito Hernández, Jenniffer González, and Jaime Perelló have done on the GO bond exchange legislation, which has now been passed by the Puerto Rican House of Representatives. “Representatives Hernández, González, and Perelló have ably filled the leadership […]

Main Street Bondholders Commends Bipartisan Plan by Puerto Rican Legislators to Avert Default and Uphold Puerto Rico’s Constitution

June 16, 2016

All Eyes Turn to Senator Bhatia WASHINGTON – Main Street Bondholders commends Puerto Rican Representative Tatito Hernandez, Speaker Jaime Perello and Minority Leader Jenniffer Gonzalez for introducing their bipartisan legislation, which will allow the Puerto Rican Government to avert a potentially disastrous July 1 default while upholding the Commonwealth’s Constitution. “These legislators are real leaders […]

Garcia Padilla Administration Continues to Push False Choice

June 15, 2016

The following blog is by Main Street Bondholders member Santiago Mari-Roca of Mayaguez, Puerto Rico. Even as Puerto Rican Governor Alejandro Garcia Padilla’s narrative of humanitarian crisis on the island has been called into question by members of his own party, key members of his administration continue to perpetuate the false choice at the core […]