As a U.S. House committee prepares to take up the Puerto Rico Oversight, Management and Economic Stability Act (PROMESA) on Tuesday, Democratic presidential candidate Bernie Sanders is calling on his U.S. Senate colleagues to oppose the bill, which he says "would make a terrible situation even worse."
PROMESA sounds like Snyder's Michigan on steroids. We've seen how well that has gone. Another clear opportunity for Dems to show where they stand - are they for Puerto Rico or Wall Street.
The Vulture Funds were betting they'd make huge profits from the bonds they bought. They lost that bet, now they and their enablers demand that they be bailed out. Isn't it supposed to be that when you take a risk and win you get the prize, but when you take a risk and lose...you lose.
The capitalist financial system is rigged just like the election system is. "They call it the American dream because you have to be asleep to believe it." - George Carlin
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Fighting for the voiceless and the voteless: CHARACTER!
From the recent Chris Hedges article:
"Luxemburg, in another understanding important to those caught up in the pressures of a single election cycle, viewed electoral campaigns, like union organizing, as a process of educating the public about the nature of capitalism. These activities, divorced from “revolutionary consciousness”—from the ultimate goal of overthrowing capitalism—were, she said, “a labor of Sisyphus.”
The American people need to be constantly reminded that Puerto Rico is not just some island owned by the US. It is an island that the US conquered in the Spanish American War, ran as a colony, and then, to try to stifle a growing independence movement, declared that all people on the island, whether they wanted it or not, would become US citizens.
That situation has remained ever since. Puerto Ricans are US citizens. They have no vote while they live in their homeland of Puerto Rico, but if they come to the US, which they are free do to as US citizens (there is no customs or INS barrier for arriving flights from Puerto Rico, which land at domestic terminals on the mainland, they immediately have the right to vote in national elections.
The two parties allow Puerto Ricans in Puerto Rico to vote in national primaries for president, even though they cannot vote in the general election, which is why both candidates campaign down there.
But what Bernie should have mentioned along the way in his excellent condemnation of the proposed horrific debt "deal" for PR, which establishes a completely colonialist Wall Street -dominated control board to run the island in effective bankruptcy, is that this is being done to two million US citizens, not "just" to a bunch of foreigners under US domination.
Most Americans don't know this, and just assume that Puerto Ricans living in their midst here in the US are all immigrants, legal and illegal. In fact, no Puerto Rican is an immigrant.
founding editor of ThisCantBeHappening.net
Time for Puerto Rico and Greece to go the way of Iceland and tell these bloodsuckers to shove it.
Yeah, second class citizens since they cannot vote in the general election. And now, as the people of Detroit, they are prevented from running their own affairs.
Hey I never heard that George Carlin quote! Hilariously true!!
US did not conquer Puerto Rico, US invaded by military force a province of Spain and separated Puerto Rico from Spain, Puerto Rico was at peace in 1898 and their citizens who were not fighting an independence war against Spain were stripped from their spanish citizenship and treated like cattle by the US. Puerto Ricans fought the invasion but when they were winning at the Battle of the Asomante the Treaty of Paris was signed forcing Spain to give up sovereignty over its caribbean province. The US citizenship that Puerto Ricans have is a second class citizenship, a statutory citizenship given by the colonial law of 1917 Jones Act. They gave this citizenship to Puerto Ricans so they could go out and fight WW1.
Seems like Flint Michigan on a federal scale. When will they ever learn.
For several years in fact, it was deemed illegal in Puerto Rico to say anything negative about the United States, or to suggest Independence for Puerto Rico. While this law later overtturned it demonstretaes how the people of Puerto Rico are viewed.
Another thing not mentioned in this article is that it being suggested by the US Government that the minumum wage in Puerto Rico be lowered to 4.25 per hour this even as Puerto Rico has a highr cost of living than in the mainland United States. The law is an attempt to turn the people of Puerto Rico into debt slaves to Wall street in perpetuity and to surrender all of that Islands resources and infrastructre to Wall Street.
"We must make it clear that hedge fund managers on Wall Street cannot get a 100 percent return on Puerto Rican bonds they purchased for as little as 29 cents on the dollar yielding interest rates of up to 34 percent," Sanders wrote, "while the budget for hungry children in Puerto Rico would be cut." Meanwhile Hillary supports this deal,,,,fund raisers on Wall street tend to do that...but she probably will give them a stern talking to....." Paul Ryan believes that investors who make risky investments should privatize profits.....on the taxpayers money....unfortunately so do Clinton dems.
This is by far the best argument I have heard concerning this matter. I hope I have your permission to carry this argument and pass it along.
The difference is moral clarity and compass - that money and the profits of vulture capitalism's parasites should never be accepted as outweighing the peoples ability to live secure lives. Some people see usury and the accumulation of vast obscene wealth by a very few, as something to be aspired to, not an aberration and cancer on society and impediment to real security and a sustainable future.
Bernie Sanders is a person of moral compass and with every issue he champions, every word he speaks, he shows us we are lucky that he chose the path he has, instead of the usual self-serving political whores. Bernie instead serves to inspire us and challenge the usurers and corrupt, who prey on society and people - how can we possibly do less or fail to grasp this rare opportunity?
The Senate Dems will always stand with Wall Street...no exceptions.
I love Bernie...Go Bernie...we will support you now...during...and after the phony Democratic convention.
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