Dave Dayen is interviewed about his American Prospect article of Oct.4, âProtests Greet Puerto Rico Control Board,â which explores the Orwellian named Puerto Rico Oversight, Management and Economic Stability Act or PROMESA that was set up by Congress with Obama's support that instead of helping Puerto Rico resolve its debt crisis, effectively deprives its people from having any further say in their economic futures. He describes how PROMESA has set up an economic control board made up of Puerto Rican investment bankers, a number of whom were responsible for putting the island in the economic straits that required what Obama dishonestly affirmed was a remedy to the situation.
Dayen describes how Democrats in Congress were put up against the wall, with Obama saying the act setting up PROMESA was essential to save Puerto Rico when, in fact, it was set up to rescue its creditors while providing nothing for Puerto Ricans who are likely to find the minimum wage reduced, pensions cut, and strikes by government workers outlawed.
Dayen goes over the financial background of the members of the control board whose first meeting in New York was met with protests that are sure to be even greater when the board holds its first meeting in Puerto Rico and that these protests will be in the tradition of previous protests against the US Navy's contamination of the island of Vieques.
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