National Review and Speaker Paul Ryan have called for bailing out Puerto Rico but don’t disclose their considerable ties to the hedge fund managers and lobbyists who stand to profit.
Puerto Rico has been behaving like, well, Puerto Ricans and spending all its taxpayer welfare money on corruption and vast government services. Now it wants more. And it’s pressing Congress to give it to them or else!
This island commonwealth hasn’t been behaving like Romney and Paul Ryan mega donor (and yet curiously not Puerto Rico resident) John Paulson has told us it would. Where’s the “Singapore of the Caribbean” Paulson promised us? You’re missing the Chinese, John!
At one point National Review told us that Puerto Rico is a Latin Liechtenstein (without the Germans, of course!)
Puerto Rico: a Latin Liechtenstein? | National Review Online http://t.co/aUjkeiGbd9 via @#
— Daniel (@reyesdanl) April 17, 2013
Neither analysis took seriously the obvious fact that Puerto Ricans are really, really dumb. No matter what any cuckservative wants to tell you: Low I.Q. populations that support more government spending in a world where IQ is getting disproportionate returns year after year are perfectly rational!
It’s frankly kind of stupid to think that they won’t try to raise the minimum wage.
— National Review (@NRO) April 15, 2016
You’ll never lose money betting on National Review doing whatever the hedge fund class wants and now National Review is telling us to bail out Puerto Rico.
The editorial isn’t really worth reading but the comment section savaging the publication is worth your time. If there is hope yet for our republic it rests in the comment section.
— Bill Affourtit (@waffourt) April 21, 2016
Naturally National Review didn’t disclose that its hedge fund donors have business interests in the island commonwealth. National Review Institute’s board member John Busey is a managing director of Neuberger Berman.
Neuberger Berman wrote a report in May 2015 calling for more investment in Puerto Rico.
Another potential risk to the investment case would be a severe, sustained economic downturn in Puerto Rico beyond even the most recent crisis. Such a situation could adversely affect already significantly discounted downside recovery assumptions throughout various parts of the capital structure and result in losses.
The report concluded:
While investing in Puerto Rico debt has its risks, we believe that over a multi-year investment horizon, the island’s large and complex capital structure and rapidly evolving restructuring process should offer astute hedge funds numerous opportunities to generate attractive, risk-adjusted returns.
Puerto Rico has become a nice little tax dodge for the ultra rich and many of those ultra rich billionaire set like National Review and donate to it.
The solution for Puerto Rico? “Stop spending so much money! Privatize! Cut that minimum wage!” says the cucks. The real solution? Cut Puerto Rico lose. But we can’t do that, that would be raaacist.
Ryan is being lobbied hard by Cesar Conda. That name may sound familiar to you. He was Senator Rubio’s controversial, pro-amnesty chief of staff.
Costa has called himself a “conservative mentor” to Paul Ryan on his LinkedIn and was once Ryan’s colleague at the Alexis de Tocqueville Institution where they worked together on open borders immigration proposals. Together they killed an immigration restriction bill in 1996. (Matthew Rees, “Rookies of the Year,” The Weekly Standard, April 15, 1996).
Ryan’s press secretary and chief communications advisor both tweeted out the National Review story.
Conservatives lining up for House GOP solution // National Review: "The Puerto Rico Debt Bill Is a Good Start" https://t.co/3nRZ2olvIo
— AshLee Strong (@AshLeeStrong) April 20, 2016
— Brendan Buck (@BrendanBuck) April 20, 2016
Meaning, in other words, that Paul Ryan, the congressman from Wisconsin, takes Puerto Rico more serious than he does any other duties.
GotNews.com can’t find any current contract for Puerto but we’re told by our DC sources that Conda is lobbying Congress for the bailout. His Twitter feed certainly seems to suggest it. In the past Conda has worked for the Puerto Rican Statehood Council, a DC-based outfit working to make Puerto Rico our 51st state.
Do we really want to have another state that’s heavily indebted with low IQ Latinos?