A discussion of the creation of the Oversight Board by the Puerto Rico Oversight, Management, and Economic Stability Act: its members, legal jurisdiction, funding source, and unlimited discretion.
A discussion of Title III of the Puerto Rico Oversight, Management, and Economic Stability Act to establish a proceeding for the adjustment of Puerto Rico debts.
A discussion of the creation of the Oversight Board by the Puerto Rico Oversight, Management, and Economic Stability Act: its members, legal jurisdiction, funding source, and unlimited discretion.
A discussion of Title III of the Puerto Rico Oversight, Management, and Economic Stability Act to establish a proceeding for the adjustment of Puerto Rico debts.
I talk about Brazil's system of government from executive to legislative and how elections work. I also talk about how it is a federation which means states and even districts within them get autonomy rights.
THE RULES OF PARLIAMENT: WHOEVER IS GOOD AT PLAYING BY THE RULES, WINS telosaes
The Parliamentary Rules of Procedure: what are they? Why are they for? What are the sources of the Parliamentary Rules of Procedure? It is essential for lobbyists to know the Parliamentary Rules and how they are actually applied. Mainly to determine when to lobby.
The Court of Auditors is an institution of constitutional importance. As set forth in the Italian Constitution, it has key review and jurisdictional functions. It was established in 1862.
The Philippine judicial and legal system, including its legal education system, blends elements of civil law inherited from the Spaniards and American common law. For instance, civil code procedures on family and property matters, among others, and the absence of jury trials are attributable to the Spanish civil law influences. However, most of the more significant laws governing trade and commerce, taxation, labor relations, and governmental operations, as well as the principle of judicial precedents are an American derivation. In the hierarchy of laws, the Constitution has the highest legal force, followed by domestic statutes. In addition, generally accepted principles of international law and judicial precedents (i.e., decisions of the Supreme Court) also form part of the laws of the land.
The President of the Italian Republic is the head of the institutions of the Republic and the centre of balance in Italy’s institutional architecture. He is elected by the “Parliament in joint session” (Art. 83), for a seven-year term (Art. 85).
Explanation and Summary of Legislative Department in Article VI of the Philippine Constitution.
Reference Book: Philippine Governance and the 1987 Constitution
It deals with the principles of checks and balances and the separation of powers in a presidential system of government of the Philippines. It also shows the functions of the three branches of the government - executive, legislative, and the judiciary - as well as the positions and qualifications for each branch.
I talk about Brazil's system of government from executive to legislative and how elections work. I also talk about how it is a federation which means states and even districts within them get autonomy rights.
THE RULES OF PARLIAMENT: WHOEVER IS GOOD AT PLAYING BY THE RULES, WINS telosaes
The Parliamentary Rules of Procedure: what are they? Why are they for? What are the sources of the Parliamentary Rules of Procedure? It is essential for lobbyists to know the Parliamentary Rules and how they are actually applied. Mainly to determine when to lobby.
The Court of Auditors is an institution of constitutional importance. As set forth in the Italian Constitution, it has key review and jurisdictional functions. It was established in 1862.
The Philippine judicial and legal system, including its legal education system, blends elements of civil law inherited from the Spaniards and American common law. For instance, civil code procedures on family and property matters, among others, and the absence of jury trials are attributable to the Spanish civil law influences. However, most of the more significant laws governing trade and commerce, taxation, labor relations, and governmental operations, as well as the principle of judicial precedents are an American derivation. In the hierarchy of laws, the Constitution has the highest legal force, followed by domestic statutes. In addition, generally accepted principles of international law and judicial precedents (i.e., decisions of the Supreme Court) also form part of the laws of the land.
The President of the Italian Republic is the head of the institutions of the Republic and the centre of balance in Italy’s institutional architecture. He is elected by the “Parliament in joint session” (Art. 83), for a seven-year term (Art. 85).
Explanation and Summary of Legislative Department in Article VI of the Philippine Constitution.
Reference Book: Philippine Governance and the 1987 Constitution
It deals with the principles of checks and balances and the separation of powers in a presidential system of government of the Philippines. It also shows the functions of the three branches of the government - executive, legislative, and the judiciary - as well as the positions and qualifications for each branch.
This slideshow provides some basic parameters for the new class of amphibious assault ships being built in Mississippi.
New ships like the Ford and the America class with the new aviation and C5ISR assets on board are anchors to shaping new capabilities and new approaches.
As one senior Marine commented: "I think the ship with the new aviation assets is a game changer. You will put a 1.5 squadron aboard the LHA-6 and you will carry with them a significant deep strike capability and range with the F-35 Bravo. Then you can plus that up with other USMC assets such as the KC-130J or USAF tanker assets in support of Bravo and other aviation operations off of this ship. You will have a capability, which the ARG-MEU has never had of doing significantly deep air strikes."
The Constitutional and Legal Basis of Public Finance in the PhilippinesLym Relampagos Ongoy
Presentation Report for MPA 457 Public Fiscal Administration. Majority of the topic taken from the book of Secretary Leonor Magtolis Briones "Philippine Public Fiscal Administration".
In this presentation, Cyrus Reporter offers a review of registration requirements for associations, as well as an update on Lobbying Act 5 Year Review and Lobbyists' Code of Conduct and Rule 8.
Describes the legal environment of the Comptroller & Auditor General of India in the light of attacks upon him by senior Indian politicians and concludes that the CAG of India merits greater powers.
What Every Ohio School Leader Should Know About Advocacy and the Legislative ...Craig Eric Burford
This presentation provides an overview of the political context in Ohio and the knowledge school leaders need to effectively navigate the state legislative and budget processes.
Effectiveness of government audit system in sri lankaShakthi Fernando
This study is an Evaluation of the effectiveness of Government Audit System with respective to powers of Auditor General and COPA/COPE. This study is not an individual work of mine. It is a co-work of myself, Janith Perera and Chandi Damayanthi who are undergraduates of Sabaragamuwa University of Sri Lanka.
The important role of the Department of Defense in the US's policies regarding Puerto Rico: the restructuring of debt is just an excuse to increase the DoD's activity in Puerto Rico
Debunking the argument against the protection of Chapter 9 for the Puerto Rico Electric Power Authority. For over 200 years bankruptcy laws in the US have been applied retroactively. PREPA's Trust Agreement has always provided for a voluntary filing of a bankruptcy proceeding, since 1979, when PREPA wa authorized to file. Members of Congress and investors are creating an uproar about the possibility of a Chapter 9 proceeding. Why?
Prof Joseph E Stiglitz's no-holds-barred Op-Ed in the Wall Street Journal explicitly calling the US to task for its “imperialist past and neocolonial present” regarding Puerto Rico, and his keynote address of the Third Working Session of the UN Ad Hoc Committee on Sovereign Debt Restructuring Processes. An indictment of the sovereign debt capital market and of the US government regarding its policies over Puerto Rico.
Since Puerto Rico has no recourse to either Chapter 9 of the US Bankruptcy Code or its own law, it must negotiate with its creditors without any pre-established process or framework. Under this circumstances, it is helpful to discuss the roadmap prepared by the UN, which strives to present steps that countries can take before and during debt restructuring within the context of five principles that should provide guidance in the negotiation process.
This presentation discusses the importance of front-end regulations when issuing debt, and the importance of conducting an adequate due diligence before investing in sovereign debt. Ignoring the details of applicable law to a bond issuance are not “back-end changes” when an issuer implements measures authorized by applicable law.
At last the discussion of Puerto Rico’s economic and debt crises will consider the biggest restrictions that limit Puerto Rico’s authority to make the structural changes it needs: laws and regulations enacted for a bigger, more developed economy.
In 2020, the Ministry of Home Affairs established a committee led by Prof. (Dr.) Ranbir Singh, former Vice Chancellor of National Law University (NLU), Delhi. This committee was tasked with reviewing the three codes of criminal law. The primary objective of the committee was to propose comprehensive reforms to the country’s criminal laws in a manner that is both principled and effective.
The committee’s focus was on ensuring the safety and security of individuals, communities, and the nation as a whole. Throughout its deliberations, the committee aimed to uphold constitutional values such as justice, dignity, and the intrinsic value of each individual. Their goal was to recommend amendments to the criminal laws that align with these values and priorities.
Subsequently, in February, the committee successfully submitted its recommendations regarding amendments to the criminal law. These recommendations are intended to serve as a foundation for enhancing the current legal framework, promoting safety and security, and upholding the constitutional principles of justice, dignity, and the inherent worth of every individual.
Responsibilities of the office bearers while registering multi-state cooperat...Finlaw Consultancy Pvt Ltd
Introduction-
The process of register multi-state cooperative society in India is governed by the Multi-State Co-operative Societies Act, 2002. This process requires the office bearers to undertake several crucial responsibilities to ensure compliance with legal and regulatory frameworks. The key office bearers typically include the President, Secretary, and Treasurer, along with other elected members of the managing committee. Their responsibilities encompass administrative, legal, and financial duties essential for the successful registration and operation of the society.
Car Accident Injury Do I Have a Case....Knowyourright
Every year, thousands of Minnesotans are injured in car accidents. These injuries can be severe – even life-changing. Under Minnesota law, you can pursue compensation through a personal injury lawsuit.
WINDING UP of COMPANY, Modes of DissolutionKHURRAMWALI
Winding up, also known as liquidation, refers to the legal and financial process of dissolving a company. It involves ceasing operations, selling assets, settling debts, and ultimately removing the company from the official business registry.
Here's a breakdown of the key aspects of winding up:
Reasons for Winding Up:
Insolvency: This is the most common reason, where the company cannot pay its debts. Creditors may initiate a compulsory winding up to recover their dues.
Voluntary Closure: The owners may decide to close the company due to reasons like reaching business goals, facing losses, or merging with another company.
Deadlock: If shareholders or directors cannot agree on how to run the company, a court may order a winding up.
Types of Winding Up:
Voluntary Winding Up: This is initiated by the company's shareholders through a resolution passed by a majority vote. There are two main types:
Members' Voluntary Winding Up: The company is solvent (has enough assets to pay off its debts) and shareholders will receive any remaining assets after debts are settled.
Creditors' Voluntary Winding Up: The company is insolvent and creditors will be prioritized in receiving payment from the sale of assets.
Compulsory Winding Up: This is initiated by a court order, typically at the request of creditors, government agencies, or even by the company itself if it's insolvent.
Process of Winding Up:
Appointment of Liquidator: A qualified professional is appointed to oversee the winding-up process. They are responsible for selling assets, paying off debts, and distributing any remaining funds.
Cease Trading: The company stops its regular business operations.
Notification of Creditors: Creditors are informed about the winding up and invited to submit their claims.
Sale of Assets: The company's assets are sold to generate cash to pay off creditors.
Payment of Debts: Creditors are paid according to a set order of priority, with secured creditors receiving payment before unsecured creditors.
Distribution to Shareholders: If there are any remaining funds after all debts are settled, they are distributed to shareholders according to their ownership stake.
Dissolution: Once all claims are settled and distributions made, the company is officially dissolved and removed from the business register.
Impact of Winding Up:
Employees: Employees will likely lose their jobs during the winding-up process.
Creditors: Creditors may not recover their debts in full, especially if the company is insolvent.
Shareholders: Shareholders may not receive any payout if the company's debts exceed its assets.
Winding up is a complex legal and financial process that can have significant consequences for all parties involved. It's important to seek professional legal and financial advice when considering winding up a company.
ALL EYES ON RAFAH BUT WHY Explain more.pdf46adnanshahzad
All eyes on Rafah: But why?. The Rafah border crossing, a crucial point between Egypt and the Gaza Strip, often finds itself at the center of global attention. As we explore the significance of Rafah, we’ll uncover why all eyes are on Rafah and the complexities surrounding this pivotal region.
INTRODUCTION
What makes Rafah so significant that it captures global attention? The phrase ‘All eyes are on Rafah’ resonates not just with those in the region but with people worldwide who recognize its strategic, humanitarian, and political importance. In this guide, we will delve into the factors that make Rafah a focal point for international interest, examining its historical context, humanitarian challenges, and political dimensions.
Elections? For a government for Puerto Rico? What for?
1. ELECTIONS?
FOR A GOVERNMENT FOR PUERTO RICO?
WHAT FOR?
The discussion of the takeover of the Government of Puerto Rico
by the Financial Oversight and Management Board continues
Maria de los Angeles Trigo
April 2016
Elections? For a government for Puerto Rico? What for?
1
2. AND THE
CONSTITUTION OF PUERTO RICO
IS SUSPENDED
Elections? For a government for Puerto Rico? What for?
2
3. This is the second of my two presentations discussing the takeover of the
Government of Puerto Rico by the Financial Oversight and Management
Board created by the Puerto Rico Oversight, Management, and Economic
Stability Act bill in the US Congress: the PROMESA.
Elections? For a government for Puerto Rico? What for?
3
4. The first presentation, “The PROMESA: a takeover is a takeover is a
takeover,” discussed the process for the approval of Fiscal Plans and
Budgets, as well as the reports the Governor must submit to the Board.
It also discussed the changes that the Board can make to almost every
aspect on life in Puerto Rico, and that can be implemented by the vote of
three of the Board’s members.
My comments refer to the draft issued on 29 March 2016. I may also refer
to the language used in the draft of 24 March 2016, depending on the
changes made from one draft to the other.
Elections? For a government for Puerto Rico? What for?
4
5. Now for the subjugation
Elections? For a government for Puerto Rico? What for?
5
6. Laws
The Board must approve every single law approved by the Legislature
before it comes into effect.
Let me repeat that: the Board must approve every single law approved
by the Legislature before it comes into effect.
Elections? For a government for Puerto Rico? What for?
6
7. The Board will review to see if it is consistent with the Fiscal Plan and the
Budget (that the Board has certified) before deciding whether the law will
be effective.
If the Board, always in its sole discretion, decides that the act is
“significantly inconsistent” with the Budget or the Fiscal Plan, the law “shall
be null and void.”
Although there is this: “to the extent the Oversight Board considers
appropriate, [it shall] provide the Legislature with recommendations for
modifications to the Act.”
Also, if the Board doesn’t act in 14 days, the law shall be deemed
approved by the Board.
Elections? For a government for Puerto Rico? What for?
7
8. Contracts and Leases
The same process applies to any contract or lease, no matter the amount:
the Board shall examine the transaction, and decide whether it is
consistent with the Fiscal Plan and the Budget.
Only then would the Puerto Rico government be authorized to enter into
the agreement. And for this review, the Board has no term within which to
answer.
Elections? For a government for Puerto Rico? What for?
8
9. If it is required, the Legislature must approve first any contract or lease
before it is submitted to the Board.
For example, the bill adds the requirement that the Governor must submit
to the Legislature for approval any contract of over $1,000,000.
If the Legislature approves the contract, it is submitted to the Board for
approval. And then, only if the Board approves it, can the Governor sign
the contract or lease.
Elections? For a government for Puerto Rico? What for?
9
10. Rules and Regulations
And this also applies to any rules and regulations proposed by any agency:
unless the Board authorizes it, no rules or regulations will enter into effect.
So, considering that the Legislature must report to the Board and follow its
orders, I presume the procedure when dealing with the approval of rules
and regulations is this: the agency follows the process established by the
Administrative Procedure Act, and after the law has been complied with,
the rule or regulation is submitted to the Board for approval.
And the agency has to wait until the Board approves, or not, the rule or
regulation, because the Board has no term within which to answer.
Elections? For a government for Puerto Rico? What for?
10
11. Governor’s Reports
The Governor even has to submit to the Board for review “any report
submitted by the Governor for a fiscal year or any quarter,” and the Board
will review each report and shall submit a report to the US Congress
analyzing the completeness and accuracy of the Governor’s report.
This, I do not understand. Any report means any report submitted by the
Governor to any person for any purpose. It would make more sense if it
referred only to the quarterly reports that the Governor must submit to
the Board (there is no requirement for the Governor to submit annual
reports to the Board), but any report?
What does that mean? Because this section refers to “performance and
financial accountability reports” that are not mentioned anywhere else in
the bill.
Elections? For a government for Puerto Rico? What for?
11
12. ITS OWN RULES AND REGULATIONS
But that is not all. The Board is authorized to issue the orders, rules, or
regulations it considers appropriate to carry out the purposes of the bill, if
the Governor or the head of any department or agency could have issued
them.
Given that caveat, I believe that the Board would have to follow the
Administrative Procedure Act, since the Governor or any agency would
have had to follow it.
The difference is that the Board must notify the US President and the US
Congress if it issues any such orders, rules, or regulations.
Another important difference: the orders, rules, or regulations issued by
the Board will not be subject to judicial review.
Elections? For a government for Puerto Rico? What for?
12
13. However, if I read this expansive language “issue such orders, rules, or
regulations it considers appropriate to carry out the purposes of this Act”
along with the authorization to “ensure the purposes of this Act are met”
by cracking down on any attempt from government employees to
organize a strike or a lockout,
we may very well see an order declaring a state of emergency — issued by
the Board.
Elections? For a government for Puerto Rico? What for?
13
14. THE SQUEEZE CONTINUES
Any borrowing by the Puerto Rico government must be approved by the
Board.
I wonder if that includes capital leases of equipment and machinery, since
the bill doesn’t provide for any exception.
If the Governor wants to reprogram any amount provided in a Budget, it
must receive the approval of the Board before submitting it to the
Legislature.
Note that this is not a new expense; it is transferring funds from one
purpose to another. There is no effect in the total budget, and no increase
in expenses.
Elections? For a government for Puerto Rico? What for?
14
15. But even this minimizes the severe control of the Board over public policy
in Puerto Rico, and that will not do.
So, even the reprogramming of funds within a Budget are subject to “an
analysis” by the Board.
The Constitution of Puerto Rico is indeed suspended.
Elections? For a government for Puerto Rico? What for?
15
16. And now for the missing party: the Judiciary. The bill doesn’t mention
Puerto Rico’s Judiciary at all. It apparently doesn’t exist.
Anything related to the bill will be argued before the District Court of the
District of Columbia and appealed to the Circuit Court of the District of
Columbia.
The subpoenas and any restructuring will be litigated before the federal
court in Puerto Rico.
Elections? For a government for Puerto Rico? What for?
16
17. Our Judiciary? Nowhere to be found, except to clarify that the Board’s
power to issue subpoenas does not extend to “judicial officers or
employees of the Puerto Rico courts.”
I sure hope the term “judicial officers” includes the judges.
The Constitution of Puerto Rico goes poof.
Elections? For a government for Puerto Rico? What for?
17
18. EXTRA POWERS
The Board must approve any discretionary tax waivers granted by the
Puerto Rico government.
I understand this to mean that tax incentives laws are now under the direct
supervision of the Board. “Discretionary tax waivers” would include tax
incentive contracts, since the Puerto Rico government has always reserved
the right to grant them.
The Board is explicitly granted the authorization to take cooperative
efforts with Puerto Rico, including recommending changes to Federal laws,
or recommending actions of the Federal Government, that would help
Puerto Rico in complying with the Fiscal Plan and Budgets.
Who knows whether this includes changes in the Federal laws that impose
constraints on Puerto Rico’s economic development.
Elections? For a government for Puerto Rico? What for?
18
19. The Board is explicitly granted the authorization to take cooperative
efforts with Puerto Rico, including recommending changes to Federal laws,
or recommending actions of the Federal Government, that would help
Puerto Rico in complying with the Fiscal Plan and Budgets.
Who knows whether this includes changes in the Federal laws that impose
constraints on Puerto Rico’s economic development.
Elections? For a government for Puerto Rico? What for?
19
20. AND WHEN DOES THIS START?
Any of these six events would start an “oversight period”:
1. the failure by the central government, any agency or any public
corporation to provide sufficient revenue to a debt service
reserve fund
2. a default on any form of borrowing
3. failure of the Puerto Rico government to meet its payroll
4. the existence of a cash deficit at the end of any quarter
5. failure to make required payments related to pensions and
benefits
6. failure to make payments to any entity established under an
interstate compact
Elections? For a government for Puerto Rico? What for?
20
21. The “oversight period” ends when the Board certifies that both:
1. Puerto Rico has adequate access to short-term and long-term
credit at reasonable interest rates
2. for five consecutive fiscal years the expenditures made during
each year did not exceed the revenues
However, the events that signal the start of an oversight period are not
immediately important, since the bill deems that an oversight period exists
right now.
Elections? For a government for Puerto Rico? What for?
21
22. ETERNALLY WATCHFUL
But the Board’s work is never done.
Even if there is no oversight period, the Governor must keep submitting
the government Budget to the Board, forever, so the Board can prepare a
report to the US President and the US Congress.
The Board shall also keep monitoring the “financial status” of Puerto Rico
(whatever that means, and whatever that implies).
If the Board believes there is a risk that an oversight period may start, it
can submit a report to the US President and the US Congress.
Elections? For a government for Puerto Rico? What for?
22
23. The bill doesn’t clarify what “a risk exists that an oversight period may be
initiated” means.
Next fiscal year? Within five years? Possible? Probable?
Since the Board’s oversight is perpetual, I guess they will consider a sliver
of risk as enough to recommend the start of an oversight period.
Elections? For a government for Puerto Rico? What for?
23
24. DISTRUST
Now, my favorite section of the bill.
If the Fiscal Plan and Budget are prepared by consensus among the Board,
the Governor, and the Legislature, the Board must certify that the Budget
and the Fiscal Plan reflect a consensus…
…and must send copy to the US President and the US Congress.
Elections? For a government for Puerto Rico? What for?
24
25. If the Board certifies the Fiscal Plan or the Budget under the process of
submit, review, reject, revise, approve, and certify, the Board is not
required to send a copy to either the US President or the US Congress.
But if the Fiscal Plan and Budget are prepared by consensus? It must send
a copy to the US President and the US Congress.
So they can make sure the Board is as controlling as it can be?
Elections? For a government for Puerto Rico? What for?
25
26. OH, IT DIED
Humpty Dumpty sat on a wall,
Humpty Dumpty had a great fall;
All the king’s horses and all the king’s men
Couldn’t put Humpty together again.
—Mother Goose
The Commonwealth of Puerto Rico, as a constitutional body, lies
pulverized.
We wish it peace in the afterlife.
Elections? For a government for Puerto Rico? What for?
26
27. ELECTIONS AND SELF-GOVERNANCE
There is no need to celebrate elections in Puerto Rico this November. An
election to install a government that is, for all intents and purposes, an
employee of this Board?
This bill does away with the Constitution of Puerto Rico.
The setting of public policy, the control over budget, infrastructure
expenditure, restructuring of its debt, the policies and legal framework
that reflect Puerto Ricans’ social priorities, are all hijacked by a Board
appointed by the US President, and for whom we Puerto Ricans do not
vote.
Elections? For a government for Puerto Rico? What for?
27
28. The Committee tries to make us believe that the Board will exercise its
control in “the most efficient and equitable manner that is respectful of
the rule of law, self-governance…”
That is impossible.
Elections? For a government for Puerto Rico? What for?
28
29. A Board that controls every single aspect of the Puerto Rico government
and Puerto Ricans’ life does not respect self-governance.
When just three people named by the US President with no input
whatsoever from Puerto Ricans can make changes to our government, our
laws, our policies, our resources, and our assets, there is no self-
governance.
That has many names; self-governance is not one of them.
Elections? For a government for Puerto Rico? What for?
29
30. So, elections? In Puerto Rico? In November? What for?
To elect an inefficacious government whose members will be nothing
more than subordinates of this Board?
I look forward to reading the reports to be filed by the US before the
Decolonization Committee of the United Nations, again, considering this
bill annihilates the Constitution of Puerto Rico.
Elections? For a government for Puerto Rico? What for?
30
31. FORAKER 21
It is clear, though, that the Congressional dilly-dallying is over.
November is close, Puerto Ricans do not vote but creditors do, and
politicians believe, above all, in self-preservation.
Even so, it flabbergasts me that the US Congress would draft something
like this.
Elections? For a government for Puerto Rico? What for?
31
32. Reading the bill I thought of what Prof T. Alexander Aleinikoff called “the
imperialistic fires burning in the nation.”
See the pains Congress takes to make clear that “Nothing in this Act may
be construed … to limit the authority of Congress to exercise ultimate
legislative authority over Puerto Rico.”
Elections? For a government for Puerto Rico? What for?
32
33. Yep, the US Supreme Court has everyone very, very nervous. Goodness,
what if it held that the approval of the Constitution of Puerto Rico placed
Puerto Rico outside of the territorial clause? Oh no no no.
Since with this bill Congress has shown how willing it is to suspend, even
annul, the Constitution of Puerto Rico (always under the let-us-use-it-
now-maybe-soon-will-die territorial clause), a more appropriate name for
this bill would be “The Foraker Act for the New Century,” especially since
the Foraker Act of 1900 is the spiritual parent of this PROMESA. Its short
name could be “Foraker 21”.
Elections? For a government for Puerto Rico? What for?
33
34. The coveted control over budgets, expenses, government structure,
legislation, contracts, assets, and life in general is still possible — just like it
was 116 years ago.
Another advantage? There is no need for acronyms.
Back to the future indeed.
Elections? For a government for Puerto Rico? What for?
34
35. EVER PRESENT
How much of this aggressive pursuit of the crude implementation of the
plenary power of the territorial clause is because of the escalation of
hostilities with the ones “over there far away” is for the people in the five-
sided building to know.
And for us in Puerto Rico to never ignore.
Food for thought.
My next article, “The PROMESA for an ordered, fair debt restructuring” will
discuss bondholders as members of the Board, the stay on claims, and the
bill’s proposed process for the adjustment of debt.
Elections? For a government for Puerto Rico? What for?
35
36. EXTRAS
Semblances of Sovereignty: The Constitution, the State, and American
Citizenship, T. Alexander Aleinikoff, Harvard University Press, 2002, at page
81.
“The Board is here; and now what?,” Aníbal Acevedo Vilá, 29 March 2016
“Puerto Rico Governor Seeking Four Changes in U.S. Rescue Bill,” Robert
Slavin, The Bond Buyer, 31 March 2016. Behind a paywall. (Oh yes, because
having our Constitution go up in smoke is a rescue.)
Elections? For a government for Puerto Rico? What for?
36
37. EXTRAS
War Against All Puerto Ricans: Revolution and Terror in America’s Colony,
Nelson A. Denis, Public Affairs Books, 2015
The Supreme Court and Puerto Rico: The Doctrine of Separate and
Unequal, Juan R. Torruella, Editorial de la Universidad de Puerto Rico, 1985
“The Insular Cases: The Establishment of a Regime of Political Apartheid,”
Juan R. Torruella, University of Pennsylvania Journal of International Law,
2007
“Free Puerto Rico, America’s Colony,” Nelson A. Denis, The New York
Times, 6 August 2015
Elections? For a government for Puerto Rico? What for?
37
38. RELATED ARTICLES
In SlideShare
The Congressional PROMESA to put the uppity Commonwealth in its place
The PROMESA: a takeover is a takeover is a takeover
In LinkedIn
The Congressional PROMESA to put the uppity Commonwealth in its place
The PROMESA: a takeover is a takeover is a takeover
A PROMESA for an ordered, fair debt restructuring
Elections? For a government for Puerto Rico? What for?
38
39. Originally published in LinkedIn
Elections? For a government for Puerto Rico? What for?
2 April 2016
This presentation was edited from the original article.
An attorney and CPA, I help clients understand Puerto Rico’s public finance market
and its legal and regulatory framework. I aim to provide you with insights and
information rooted in Puerto Rico’s history, and legal and political status, so you
can better understand Puerto Rico’s fiscal and legal structures.
If you found the article helpful, please share it with those who might find it
interesting. If you would like to read future articles, just click the follow button,
here in SlideShare and in LinkedIn.
Elections? For a government for Puerto Rico? What for?
39