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PROMESA
The Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA) is a U.S. federal law enacted in 2016 that established a financial oversight board, a process for restructuring debt, and expedited procedures for approving critical infrastructure projects in order to combat the Puerto Rican government-debt crisis. Through PROMESA, the US Congress established an appointed Fiscal Control Board (FCB), known colloquially in Puerto Rico as "la junta," to oversee the debt restructuring. With this protection the then-governor of Puerto Rico, Alejandro García Padilla, suspended payments due on July 1, 2016. The FCB's approved fiscal austerity plan for 2017-2026 cut deeply into Puerto Rico's public service budget, including cuts to health care, pensions, and education, in order to repay creditors. By May 2017, with $123 billion in debt owed by the Puerto Rican government and its corporations, the FCB requested the "immediate" appointment of a federal judge to resolve the "large ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Puerto Rican Government-debt Crisis
The Puerto Rican government-debt crisis was a financial crisis affecting the government of Puerto Rico. The crisis began in 2014 when three major credit agencies downgraded several bond issues by Puerto Rico to "junk status" after the government was unable to demonstrate that it could pay its debt. The downgrading, in turn, prevented the government from selling more bonds in the open market. Unable to obtain the funding to cover its budget imbalance, the government began using its savings to pay its debt while warning that those savings would eventually be exhausted. To prevent such a scenario, the United States Congress enacted a law known as PROMESA, which appointed an oversight board with ultimate control over the Commonwealth's budget. As the PROMESA board began to exert that control, the Puerto Rican government sought to increase revenues and reduce its expenses by increasing taxes while curtailing public services and reducing government pensions. These measures provoked soc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Puerto Rico
Puerto Rico (; abbreviated PR; tnq, Boriken, ''Borinquen''), officially the Commonwealth of Puerto Rico ( es, link=yes, Estado Libre Asociado de Puerto Rico, lit=Free Associated State of Puerto Rico), is a Caribbean island and Unincorporated territories of the United States, unincorporated territory of the United States. It is located in the northeast Caribbean Sea, approximately southeast of Miami, Florida, between the Dominican Republic and the United States Virgin Islands, U.S. Virgin Islands, and includes the eponymous main island and several smaller islands, such as Isla de Mona, Mona, Culebra, Puerto Rico, Culebra, and Vieques, Puerto Rico, Vieques. It has roughly 3.2 million residents, and its Capital city, capital and Municipalities of Puerto Rico, most populous city is San Juan, Puerto Rico, San Juan. Spanish language, Spanish and English language, English are the official languages of the executive branch of government, though Spanish predominates. Puerto Rico ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Oversight And Management Board For Puerto Rico
Financial Oversight and Management Board for Puerto Rico (FOMBPR), colloquially known as ''La Junta de Control/Supervisión Fiscal'' is a government entity whose role to revise and approve the budget and obligations of the government of Puerto Rico was created by federal law PROMESA. History Creation On August 31, 2016, Barack Obama appointed the seven members of the board. In March 2017, Natalie Jaresko, former Minister of Finance in Ukraine, was appointed as the board's executive director. In 2019, Christian Sobrino, PROMESA's Representative of the Puerto Rican government, resigned in the wake of the Telegramgate scandal effective immediately on July 13 2019. On September 1, 2020, ''El Nuevo Día'' newspaper reports that USDA Rural Development State Director Josué Rivera was mentioned as a potential nominee for the Board. ''FOMBPR v. Aurelius Investment, LLC'' Composition of the FOMBPR Current members Former members Officers Authority Appointed by the Speaker of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ricardo Rosselló
Ricardo Antonio Rosselló Nevares (; born March 7, 1979) is a Puerto Rican politician who served as the governor of Puerto Rico from 2017 to 2019. He resigned on August 2, 2019, after protests related to the Telegramgate scandal. He is the son of former governor of Puerto Rico and pediatric surgeon Pedro Rosselló. In 2010, Rosselló founded the political advocacy group ''Boricua ¡Ahora Es!'' to advocate for changing the current political status of Puerto Rico. Rosselló supports Puerto Rican statehood. Following several years of political advocacy, Rosselló announced that he would seek the nomination of the New Progressive Party (PNP in Spanish) for Governor of Puerto Rico in 2016. After winning the New Progressive Party primary, Rosselló was elected governor in the 2016 general election, defeating five other candidates. In July 2019, Rosselló faced widespread controversy after a group chat on the Telegram app between Rosselló and his staff was made public. The chat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
David Skeel
David Arthur Skeel, Jr. (born September 10, 1961) is an American law professor specializing in bankruptcy law and corporate law. He is the S. Samuel Arsht Professor of Corporate Law at the University of Pennsylvania Law School, a position he has held since 2004. Biography Skeel received a B.A. from the University of North Carolina at Chapel Hill and a J.D. from the University of Virginia School of Law. From 1987 to 1988, he clerked for the Honorable Walter K. Stapleton of the United States Court of Appeals for the Third Circuit. From 1988 to 1990, he was an associate in the law firm Duane, Morris, and Heckscher, within the firm's reorganization and finance department. From 1990 to 1998, Skeel taught at Temple University School of Law, where he was an associate professor from 1993 to 1998 and an assistant professor from 1990 to 1993. Skeel joined the University of Pennsylvania Law School The University of Pennsylvania Carey Law School (also known as Penn Law or Penn Carey L ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Arthur Gonzalez
Arthur J. Gonzalez is a senior fellow at New York University School of Law and member of the PROMESA oversight board in charge of resolving the Puerto Rican government-debt crisis. Before his retirement from the bench, he was chief judge of the United States Bankruptcy Court for the Southern District of New York. Gonzalez received his undergraduate degree from Fordham University in 1969. Following graduation, he worked as a New York City public school teacher until 1982, earning a master's degree from the Brooklyn College School of Education. After earning a law degree in the Evening Program at Fordham in 1982, Gonzalez became an attorney for the Manhattan District Counsel Office of the Internal Revenue Service (IRS). He left the IRS in 1988 and worked as a private lawyer for several firms. During this period, he earned a Master of Laws from New York University (NYU). In 1991, Gonzalez re-entered government to become an Assistant United States Trustee for the Southern Distric ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
José Ramón González
José Ramón González is a Puerto Rican financial executive. He is the President and Chief Executive Officer of the Federal Home Loan Bank of New York since 2014. He formerly served as Senior Executive Vice President of Oriental Financial Group and former President and CEO of Santander Puerto Rico, Puerto Rico's second largest financial institution. González also served from 1986 to 1989 as president of the Puerto Rico Government Development Bank during the administration of Governor Rafael Hernández Colón. In 2016 he was named to the PROMESA oversight board in charge of resolving the Puerto Rican government-debt crisis The Puerto Rican government-debt crisis was a financial crisis affecting the government of Puerto Rico. The crisis began in 2014 when three major credit agencies downgraded several bond issues by Puerto Rico to "junk status" after the governmen ... Where he served until August 2020 References Living people Puerto Rican businesspeople Presidents of th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Alejandro García Padilla
Alejandro Javier García Padilla (; born August 3, 1971) is a Puerto Rican politician and attorney who served as the governor of Puerto Rico from 2013 to 2017. Prior to this position, García Padilla held various roles in the political landscape of Puerto Rico; first as Secretary of Consumer Affairs, and then as a member of the 24th Senate of Puerto Rico and as president of the Popular Democratic Party. Locally, he is a staunch advocate for maintaining the current political status of Puerto Rico as that of an unincorporated territory of the United States with self-government, while at the national level he is allied with the Democratic Party. As governor, García Padilla shared his legislative powers with the 25th Senate and 29th House of Representatives, both controlled by his party. Regardless of this, he was not able to persuade several members of his own party to support his proposals. This failure, in addition to his low popularity, ultimately led him to not s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Carlos M
Carlos may refer to: Places ;Canada * Carlos, Alberta, a locality ;United States * Carlos, Indiana, an unincorporated community * Carlos, Maryland, a place in Allegany County * Carlos, Minnesota, a small city * Carlos, West Virginia ;Elsewhere * Carlos (crater), Montes Apenninus, LQ12, Moon; a lunar crater near Mons Hadley People * Carlos (given name), including a list of name holders * Carlos (surname), including a list of name holders Sportspeople * Carlos (Timorese footballer) (born 1986) * Carlos (footballer, born 1995), Brazilian footballer * Carlos (footballer, born 1985), Brazilian footballer Others * Carlos (Calusa) (died 1567), king or paramount chief of the Calusa people of Southwest Florida * Carlos (DJ) (born 1966), British DJ * Carlos (singer) (1943—2008), French entertainer * Carlos the Jackal, a Venezuelan terrorist *Carlos (DJ) (born 2010) Guyanese DJ Arts and entertainment * ''Carlos'' (miniseries), 2010 biopic about the terrorist Carlos the Jackal * ' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
José Carrión
José is a predominantly Spanish and Portuguese form of the given name Joseph. While spelled alike, this name is pronounced differently in each language: Spanish ; Portuguese (or ). In French, the name ''José'', pronounced , is an old vernacular form of Joseph, which is also in current usage as a given name. José is also commonly used as part of masculine name composites, such as José Manuel, José Maria or Antonio José, and also in female name composites like Maria José or Marie-José. The feminine written form is ''Josée'' as in French. In Netherlandic Dutch, however, ''José'' is a feminine given name and is pronounced ; it may occur as part of name composites like Marie-José or as a feminine first name in its own right; it can also be short for the name ''Josina'' and even a Dutch hypocorism of the name ''Johanna''. In England, Jose is originally a Romano-Celtic surname, and people with this family name can usually be found in, or traced to, the English county of C ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Andrew G
Andrew is the English form of a given name common in many countries. In the 1990s, it was among the top ten most popular names given to boys in English-speaking countries. "Andrew" is frequently shortened to "Andy" or "Drew". The word is derived from the el, Ἀνδρέας, ''Andreas'', itself related to grc, ἀνήρ/ἀνδρός ''aner/andros'', "man" (as opposed to "woman"), thus meaning "manly" and, as consequence, "brave", "strong", "courageous", and "warrior". In the King James Bible, the Greek "Ἀνδρέας" is translated as Andrew. Popularity Australia In 2000, the name Andrew was the second most popular name in Australia. In 1999, it was the 19th most common name, while in 1940, it was the 31st most common name. Andrew was the first most popular name given to boys in the Northern Territory in 2003 to 2015 and continuing. In Victoria, Andrew was the first most popular name for a boy in the 1970s. Canada Andrew was the 20th most popular name chosen for male ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Appointments Clause
The Appointments Clause of Article II, Section 2, Clause 2, of the United States Constitution empowers the President of the United States to nominate and, with the advice and consent (confirmation) of the United States Senate, appoint public officials. Although the Senate must confirm certain principal officers (including ambassadors, Cabinet secretaries, and federal judges), Congress may by law invest the appointment of "inferior" officers to the President alone, or the courts of law, or the heads of departments. Text Appointments Clause aspects Nomination The President has plenary power to nominate political appointees, and the Senate's role is only advisory to the nomination, because the President is not bound to appoint his own nominee even with their advice. As Gouverneur Morris stated in the Constitutional Convention, “As the President was to nominate, there would be responsibility, and as the Senate was to concur, there would be security.” Advice and consent The ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
