Elite interests, including billionaires and real estate entities, are spending millions to support super PACs that back candidates opposing increased taxes on the wealthy and expanded tenants' rights. This financial influence is particularly targeted at the New York State Assembly candidates who advocate for these progressive policies.

AES Puerto Rico has been transporting its toxic coal ash from its Guayama plant to the Chesser Island landfill in southern Georgia via Keystone Terminal in Jacksonville, Florida, since at least 2018. The coal ash, branded as Agremax, has raised environmental concerns, particularly due to its proximity to the Okefenokee Swamp. The landfill's connection to AES is further highlighted by the involvement of AES's CEO, Andrés Gluski, who is also on the board of Waste Management, the landfill's owner. The issue has sparked public outrage and legal actions in both Puerto Rico and Florida, with significant protests and legislative efforts to ban the use and storage of Agremax.

Wall Street firms, including Ambac, are employing aggressive tactics to maximize profits from Puerto Rico’s bankruptcy process, potentially threatening the island's natural resources and agricultural lands. Ambac has filed a motion to investigate the real estate properties of six government agencies, aiming to pressure the oversight board and increase resources for creditor repayments. The motion is part of ongoing negotiations for a plan of adjustment to exit bankruptcy. Ambac's actions highlight the contentious nature of the bankruptcy process and the potential displacement of valuable public assets.

In the run-up to Puerto Rico's general elections, Act 22 investors, who benefit from tax exemptions on dividends and capital gains, have emerged as significant donors, with donations exceeding $18.6 million for the 2018-2020 electoral cycle. Miguel Romero and Pedro Pierluisi are the main beneficiaries of these donations. Act 22, which aims to attract millionaires to Puerto Rico to boost the economy, has been linked to a form of large-scale gentrification, as the island lost around 440,000 inhabitants during the years of its implementation. The New Progressive Party has received around 70% of the total donations from Act 22 investors, raising concerns about the influence of corporate interests and wealthy elites on Puerto Rican politics.

Vulture funds and law firms profiting from Puerto Rico's debt crisis are donating over $1.4 million to political campaigns of key figures involved in selecting members of the fiscal oversight board. The oversight board, currently in a transitional period, faces uncertainty due to upcoming elections and the pandemic. President Trump has the authority to appoint new members before the November election, with the outcome of the presidential race influencing future board interactions. Major donors include Paul Weiss and Proskauer Rose, with significant contributions from their employees and executives.

Vulture funds and their law firms are heavily donating to the campaigns of key political figures involved in the selection of Puerto Rico's fiscal oversight board members. These donations, totaling over $1.4 million, could influence the appointments amidst the ongoing debt crisis and the COVID-19 pandemic. The article highlights significant contributions to both Trump and Biden, with Biden receiving more from these funds. The oversight board, currently in a transitional period, faces uncertainty as new members are to be appointed by the president, influenced by lists from Congress. Major donors include BlackRock, Canyon, Mason, Oaktree, and Taconic, with law firms like Paul Weiss and Proskauer Rose also contributing significantly.

Vulture funds profiting from Puerto Rico's debt crisis and their representing law firms are donating to the political campaigns of presidential candidates and key congress members involved in selecting the members of the Fiscal Control Board. A review of campaign committee reports to the FEC shows over $1.4 million in donations, which could influence elected officials' decisions on new board members. With three board members resigning and others needing renewal, the board is in a transition period amid the pandemic. President Trump can appoint new members before the November elections, and the presidential race will determine the executive power the new members will face. The top five donating funds are BlackRock, Canyon, Mason, Oaktree, and Taconic, with BlackRock being the largest donor, primarily to Biden's campaign. Law firms representing the funds and the board's lawyers have also made significant donations, with Paul Weiss and Proskauer Rose being the top donors.

Political fundraising in Puerto Rico is heavily influenced by investors benefiting from Law 22, which offers tax exemptions to those relocating to the island. Key political figures like Miguel Romero and Pedro Pierluisi have received significant donations from these investors. The law, supported by multiple administrations, aims to attract wealthy individuals to boost the economy but has also contributed to large-scale gentrification. The Partido Nuevo Progresista has been the primary beneficiary of these donations, raising concerns about the growing political influence of corporate interests at the expense of social justice.

A total of 21 vulture funds have disclosed their investments in Puerto Rico’s central government bonds, revealing strategies and legal challenges. These funds, seeking maximum profit, are involved in negotiations with the oversight board to restructure $35 billion in debt. The COVID-19 pandemic disrupted previous agreements, leading to new financial disclosures that distinguish between different types of bonds. Allegations of insider trading have emerged, with some funds buying bonds they were legally challenging. The oversight board's actions and the funds' strategies highlight the complex and contentious nature of Puerto Rico's debt restructuring process.

The Financial Oversight and Management Board announced a new agreement with central government bondholders to restructure $35 billion in debt, potentially increasing payments on possibly illegal debt and threatening Puerto Rico's economic stability. The agreement, which includes an 8.5% pension cut, faces opposition from pensioners and some oversight board members. The plan requires legislative approval and a vote by creditors, with significant implications for Puerto Rico's recovery from recent natural disasters.

Private hospitals in Puerto Rico have laid off over 500 employees, including many nurses, amid the COVID-19 pandemic, highlighting the failures of healthcare privatization initiated in the 1990s. The layoffs have sparked outrage and calls for nationalizing private healthcare. The article criticizes the capitalist logic of prioritizing profits over health and questions the effectiveness of local and federal subsidies, including the CARES Act, in addressing the crisis. The Puerto Rico Hospital Association, representing private hospital interests, has been active in seeking financial aid but opposed measures to improve working conditions and wages for healthcare workers.

The article discusses the collapse of the private health system in Puerto Rico amid the COVID-19 pandemic, highlighting the suspension and layoffs of healthcare workers by private hospitals. It criticizes the profit-driven motives of private healthcare institutions and the failure of healthcare privatization initiated in the 1990s. The article also examines the local and federal measures taken to support hospitals, including financial subsidies and the CARES Act. It raises concerns about the effectiveness of these measures and the lack of protection for healthcare workers. The article advocates for better pay and conditions for healthcare professionals and suggests nationalizing private hospitals and establishing a universal healthcare plan.

Vulture funds are poised to profit from Puerto Rico's debt crisis, aided by the oversight board's plan of adjustment, which includes controversial debt payments and bond exchanges. The plan lacks support from local government but is backed by four major vulture coalitions with significant investments. The Lawful Constitutional Debt Coalition, a key player, has increased its holdings and stands to gain from the board's legal challenges. The Coalition and its members, including GoldenTree and Monarch, have also invested in Puerto Rican properties. Legal and lobbying efforts by firms like Quinn Emanuel and Politank have facilitated these financial maneuvers, raising concerns about conflicts of interest and the impact on Puerto Rico's public institutions.

Puerto Rico is described as a tax haven facing bankruptcy, with significant tax exemptions granted to corporations and wealthy individuals under laws like Acts 20 and 22. These exemptions, costing over $20 billion in 2017, have led to gentrification and economic disparity, while austerity measures have cut public services. The Puerto Rico Department of Economic Development and Commerce has published a list of beneficiaries, including major corporations like Microsoft and local entities like Pietrantoni Méndez & Álvarez. The article criticizes the lack of transparency and public debate surrounding these tax policies, highlighting the negative impact on public finances and social services.

Puerto Rico faces a severe housing crisis exacerbated by a recent earthquake and the lingering effects of Hurricane Maria. Banco Popular, the island's largest bank, is criticized for its role in foreclosures and holding vacant homes that could house displaced families. The government and oversight board are also scrutinized for inefficiency and austerity measures, with a significant reserve fund held by Banco Popular that could aid in recovery. The article calls for Banco Popular to take responsibility and for the government to utilize available funds for a just recovery.

Puerto Rico faces a severe housing crisis following a 6.4 magnitude earthquake, exacerbated by the inefficiency and disorganization of the government and the financial practices of Popular, the largest bank on the island. The earthquake has displaced thousands, and many vacant homes repossessed by banks remain unused. The article criticizes the government's austerity measures and financial mismanagement, highlighting an $8.7 billion reserve that could aid recovery but is tied up in financial and legal complications. Popular is urged to take responsibility and assist in the recovery efforts.

Pedro Pierluisi's appointment as Puerto Rico's governor is mired in controversy due to his extensive conflicts of interest as a lawyer and lobbyist. Documents reveal his financial ties to corporate interests, including AES, which conflict with his role in the federal oversight board managing Puerto Rico's bankruptcy. His dual roles raise ethical concerns and questions about his fitness to govern. The law firm O’Neill & Borges, where Pierluisi worked, is also implicated in the debt crisis, having advised on numerous controversial bond issuances. The article highlights the continuity of corruption from the previous administration and Pierluisi's focus on leveraging political relationships for profit.

Pedro Pierluisi's attempt to become the governor of Puerto Rico is marred by significant conflicts of interest and ethical concerns. His work with the law firm O’Neill & Borges and his role as an advisor to the Junta de Control Fiscal have raised questions about his suitability for public office. The article highlights his financial ties to corporate interests that have contributed to Puerto Rico's debt crisis and austerity measures. Additionally, Pierluisi's dual role as a lobbyist for AES, a company involved in environmental and financial controversies, further complicates his position. The text portrays Pierluisi and associated entities negatively, emphasizing the continuity of corruption from the previous administration.

AES Puerto Rico has been disposing of toxic coal ash from its Guayama coal-fired plant in the Chesser Island Landfill in southern Georgia since at least 2017. The landfill, owned by Waste Management, has raised environmental concerns due to its proximity to the Okefenokee Swamp and past groundwater contamination. AES's coal ash, branded as Agremax, is transported via Keystone Terminal in Jacksonville, Florida. The practice has faced significant public opposition in both Puerto Rico and Florida, leading to legislative actions and public outcry. AES's president has acknowledged the economic challenges of exporting coal ash, while the Puerto Rico Senate has passed a bill to prohibit the use and storage of Agremax.

The Financial Oversight and Management Board's proposed pension cuts in Puerto Rico, set to take effect on July 1, 2019, threaten the livelihoods of around 167,000 families. The cuts are part of a debt adjustment plan that benefits hedge funds and financial institutions at the expense of retirees. The legality of $3 billion in pension bonds is being challenged, and conflicts of interest among key players, such as Héctor Mayol, complicate the situation. Hedge funds like Mason Capital and Canyon Capital Advisors stand to profit significantly, while retirees are urged to mobilize against the cuts and hold their representatives accountable.

The Financial Oversight and Management Board and the Unsecured Creditors Committee have challenged $6 billion of Puerto Rico’s general obligation debt, claiming it was issued illegally. The report highlights the involvement of major banks like Barclays, Popular, UBS, Santander, and Morgan Stanley in these questionable bond deals, emphasizing their significant profits and revolving door relationships. The oversight board is urged to pursue legal claims against these banks before the May 9, 2019 deadline to reclaim funds for essential services in Puerto Rico. The report also underscores the broader implications of the debt restructuring negotiations on the island's financial future and social services.

Kristina Johnson, President of the State University of New York (SUNY), is also a board member of AES, a company criticized for depositing toxic coal ash waste in Puerto Rico and the Dominican Republic. Despite her efforts to aid Puerto Rico through the SUNY Puerto Rico Task Force, her association with AES, which has caused significant health and environmental issues, has drawn intense criticism. The article highlights the conflict between her roles and the negative impact of AES's operations on local communities.

A federal court approved a debt restructuring deal for Puerto Rico's COFINA debt, favoring hedge funds and wealthy investors at the expense of Puerto Rican citizens. The deal, structured over 40 years, will result in massive interest payments and significant profits for hedge funds like Baupost Group and GoldenTree, while local investors and citizens face substantial losses and high sales taxes. The process, criticized for its undemocratic nature, highlights the intensified colonial status of Puerto Rico under the 2016 PROMESA law. Future debt adjustments are expected, with potential conflicts between bondholder payments and essential public services funding.

An important chapter in Puerto Rico's debt crisis is concluding with the likely approval of the COFINA adjustment plan, which will lock in 40 years of payments to Wall Street bondholders. This plan, along with future debt restructuring, will impose severe austerity measures on Puerto Rico, including mass layoffs and cuts to essential services. Hedge funds and billionaires, such as Seth Klarman, Steve Tananbaum, and Josh Birnbaum, stand to make significant profits from these agreements. The oversight board, influenced by Wall Street, has promised higher payments to bondholders post-hurricane, exacerbating the economic strain on Puerto Rico. Public pressure and legislative action are seen as potential means to oppose these plans and prevent further corporate control over Puerto Rico's future.

The House and Senate agreed on a farm bill that authorizes farm subsidies and nutrition programs like SNAP without the stringent work requirements proposed by House Republicans. The compromise was reached after the 'blue wave' in the midterm elections reduced the bargaining power of House Republicans. The Economic Policy Institute and the Center on Budget and Policy Priorities provided commentary, with the latter praising the bill for not infringing on low-income families' ability to obtain food. Agriculture Secretary Sonny Perdue expressed disappointment and hinted at administrative actions to limit SNAP eligibility without needing congressional approval.

The COFINA debt restructuring agreement for Puerto Rico heavily benefits hedge funds, particularly those that purchased bonds at low prices between 2014 and 2016. These funds, organized as the COFINA Senior Bondholders Coalition, stand to make significant profits, with estimates suggesting over $1 billion in gains. Additionally, funds that bought subordinated bonds post-Hurricane Maria will also see substantial returns. The article criticizes the role of hedge funds, their aggressive strategies, and the involvement of high-powered law and lobbying firms in maximizing profits at the expense of Puerto Ricans. The next adjustment plan for Puerto Rico's Central Government is expected to follow a similar pattern, ensuring continued profits for bondholders.