Partner Paper No. 5: The Looting of Puerto Rico’s Infrastructure Fund: Carlos M. Garcia’s destructive fiscal policies hurt Puerto Rico once, could it happen again?
16 May 2017
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Executive Summary
Carlos M. Garcia is profoundly conflicted as a former Santander[i] banking executive in his current role on the PROMESA control board, or the “Junta.” In the years preceding Governor Luis Fortuño’s election in 2008, Garcia built Santander Securities—the bank’s municipal bond business—while Jose Ramon Gonzalez, another Junta member, was at the head of the bank.[ii]... Read More