Puerto Rico Corruption and Why it Matters | The Bond Buyer

“Government corruption has been a key factor in leading the Puerto Rico’s gross national product to contract eight of the last nine years, said Zulma Rosario Vega, executive director of the Puerto Rico Office of Ethics.”

This article is an intelligent analysis of factors affecting Puerto Rico’s fiscal crisis. It acknowledges that the money being used for bribes, pay-to-play, payoffs, etc., comes mainly from the United States government, and ends up in the hands of all political parties’ corrupt officials or a United States businesses trying to profit from Puerto Rico. Naive and gullible bond buyers of bonds issued based on the economy of Puerto Rico either knew, or should have known this historical reality, but surely the citizens of Puerto Rico should not have to pay the price for the bad deeds or errors of judgement of the relatively few wealthy, naive, or corrupt that made huge profits from the colonial situation of Puerto Rico.  The people of Puerto Rico has managed exploitation by migrating to the United States. Although the island now has a robust system for investigating these acts, corruption has a long and troubled history dating back to the first governments imposed on Puerto Rico since its colonial acquisition of the United States in 1898.

via Puerto Rico Corruption and Why it Matters | The Bond Buyer

Leave a Reply

%d bloggers like this: