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Main Street Bondholders Calls on Congress to Refine PROMESA Legislation to Ensure Senior and Retiree Bondholders Are Treated Fairly

May 26, 2016

WASHINGTON – As the “Puerto Rico Oversight, Management, and Economic Stability Act” moves toward consideration on the House floor, Main Street Bondholders calls on Congress to refine the legislation to ensure that it respects the private property rights of Puerto Rico’s bondholders. “In the weeks leading up to the Natural Resources Committee’s markup of the […]

Before He Made a Deal with President Obama, Chairman Bishop Opposed Bailing Out State and Local Pension Systems

May 24, 2016

Five years ago, Natural Resources Committee Chairman Rob Bishop co-sponsored House Resolution 23 “expressing the sense of the House of Representatives that the Federal Government should not bail out State and local government employee pension plans or other plans that provide post-employment benefits to State and local government retirees.” How times have changed. Or, maybe, […]

Puerto Rican Member of Main Street Bondholders Calls on Resident Commissioner to Oppose the False PROMESA

May 24, 2016

WASHINGTON – Ahead of the mark-up of the Puerto Rico Oversight, Management and Economic Stability Act (PROMESA), Main Street Bondholders member Carlos Ponce de Leon, a resident of Puerto Rico, urges Resident Commissioner Pedro Pierluisi to protect Puerto Rico’s credibility and Constitution, and oppose the bill.  “In Washington, thousands of miles away from my home […]

Main Street Bondholders Calls on Congress to Reject Updated PROMESA Legislation

May 19, 2016

“New” Draft Still Forces Seniors and Savers to Foot the Bill for Puerto Rico’s Fiscal Irresponsibility and Prioritizes Government Pensions WASHINGTON – Main Street Bondholders is calling on Members of Congress to reject the updated “Puerto Rico Oversight, Management, and Economic Stability Act,” which was introduced by Representative Sean Duffy late last night. “The updated […]

Putting Everything in the Hands of a Super Control Board

May 17, 2016

On the heels of continuous delays in releasing the latest PROMESA draft, the Chairman of the House Natural Resources Committee, Bob Bishop, appeared on C-SPAN recently to discuss what, if any, changes seem likely to be made to address the glaring shortcomings of the previous versions of the bill. In the interview, Chairman Bishop tries […]

Puerto Rican Government Official Confirms the Crisis is a Political Strategy of the White House

May 13, 2016

Governor Garcia Padilla Defends Colonial Overlords Good Friday afternoon, it’s time for another Puerto Rico update. For months, the Obama Administration, Jack Lew and Speaker Ryan have repeated a familiar line: there is a major humanitarian crisis unfolding in Puerto Rico. Well, not so fast says Puerto Rico’s head of economic development, Alberto Bacó. In […]

Hillary Clinton’s Top Economic Aide Warns Against Defaulting on Full Faith and Credit Debt

May 9, 2016

Highlights the Dangers of Obama Administration’s Plan for Puerto Rico to Default You know things are getting a little crazy when Donald Trump supports defaulting on full faith and credit debt and Hillary Clinton’s top economic aide, Gene Sperling, condemns such a comment calling it a “stunning lack of responsibility and understanding of the global […]