Would it be fair to penalize the Fiscal Control Board?

In the days of Alejandro García Padilla, as governor of Puerto Rico, we Puerto Ricans were thinking it very badly. Because in those days the tax debt exploded, and it was known that it was something monumental, which Alejandro called, “unpayable” a battery of financial advisors hit to guide Garcia Padilla, on the implementation of new and difficult consumer taxes , the increases in water, electricity, public transport, and other services skyrocketed. Alejandro García Padilla and his advisors were baffled, because none of the measures they took seemed to provide the answer they expected, before they fared worse. Because of so many taxes and increases to basic services, the largest exodus of people to the states was activated, never before seen in the history of Puerto Rico. Faced with such a terrible crisis, the governor was desperate, nothing seemed to go well. He came and went to the congress, seeking help from the crisis, as many times as he could, but no one seemed to pay attention to the governor’s request for help, because the truth, Alejandro García Padilla, had not been good for American officials, his constant campaigns of rejection of the American union seemed to be the reason, why no one attended his request in parallel for help to the fiscal crisis, why he was going through our country.

The negative economic impact, which produced these measures by García Padilla and his advisors, worried me. Seeing how hundreds of companies and businesses closed, such as banks and dealers, were destabilizing with so many abandoned properties and cars, because people chose to leave the country for a better future, leaving everything. I sat down and wrote a letter to President Barack Obama, explaining in detail what Puerto Rican American citizens were thinking, and asked him to intervene using all his power and powers as president of the most powerful nation in the world, and help us , and that it did not allow people to have a false reason to speak ill of our relationship with the United States.

I believe that God guided my letter, President Obama received it and answered me hurriedly. These were his textual words. I am glad that you have written to me about Puerto Rico, this reminds me, how much we have achieved for Puerto Rico and how much we still have to achieve. I tell him again; His words have remained in my heart. We close appointment. Two months later, President Barack Obama set up and established the Fiscal Control Board for Puerto Rico, which became a huge respite for Alejandro García Padilla and for the country, due to the siege and threats of lawsuits and embargoes in the courts, did not cease, for those bondholders who had never been able to update a single payment, because of the same crisis we were thinking about.

Many people get upset with the board, curse her and ask her to leave. They forget that under the representation of our leaders and rulers, those monies were taken as loans; many millions that our rulers and leaders embezzled and robbed, but having taken those monies in the name of Puerto Rico (not theirs), they never took care of honoring those benefit contracts and the debt has been increasing every day, without our being able to Achieve real solutions on advances.

The Board is a collection agency, which came to ensure that the people of Puerto Rico would catch up with the commitment of those monies that our rulers took.

It is unfair for people to bother with bondholders and with the Board. Those monies took them in the name of the people of Puerto Rico, those bad governments that represented us. What we can do well is to request an audit, to try to understand what we have not been able to see and what adjustments might be applicable. But yelling at the Board of expletives and leaving, it does not seem fair, because abusers and damn crooks and corrupt took that money in our name, which embezzled and stole.

I conclude with this: If I borrow from you, who is reading this statement, a million dollars, and I spend it on whatever I feel like, and when I no longer have money, I go to you and tell you; Look at the million dollars, which you lent me, I can’t pay it because I’m broke, so I need your debt forgiven. What would you do? I would say, do not worry, nothing happens, leave it that way?

By Derwell J Fallu

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