The Gentrification of Puerto Rico

WAR AGAINST ALL PUERTO RICANS

Book - 12-10

At the exact moment that 3.5 million Puerto Ricans are getting a Financial Control Board, a billionaire gets a major Puerto Rican beach. John Paulson, the King of subprime mortgages and vulture funds, just acquired 250 condominiums and 46 acres of beachfront property.

While Puerto Ricans are forced off the island, Paulson will welcome 250 rich foreigners (mostly from the US) to his luxury condos in Humacao, Puerto Rico.

http://cb.pr/paulson-buys-harbour-lakes-in-palmas-del-mar/

http://www.elnuevodia.com/negocios/empresas/nota/paulsoncocompraelcomplejoharbourlakesenhumacao-2200618/

PAULSON SPECIALIZES IN “DISTRESSED PROPERTIES” AND HOME EVICTIONS

John Paulson made his greatest fortune…billions of dollars…by profiting on home foreclosures during the U.S. mortgage crisis in 2007.

http://www.nydailynews.com/news/money/queens-born-john-paulson-fortune-home-foreclosures-article-1.344791

http://www.huffingtonpost.com/david-fiderer/the-moral-compass-missing_b_358856.html

In 2007 alone, Paulson made over $15 billion “by short-selling the U.S. housing market, effectively betting on its collapse, even perpetuating the magnitude of the collapse.”

http://realestate.aol.com/blog/2010/04/28/was-john-paulson-the-goldman-scandals-real-ringmaster/

PUERTO RICANS EVICTED OFF THEIR OWN ISLAND…BY JOHN PAULSON

John Paulson perfected his predatory business model in the 2007 US mortgage crisis. He…

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Transformaciones económicas y culturales en Puerto Rico (1765 en adelante)

responsabilidad por la crisis tampoco en difícil. La clase política desde 1968 a esta parte, se ha visto involucrada en una carrera infinita por sostener una ficción de crecimiento y solvencia sobre la base del crédito. Se trata de la metáfora del consumidor conspicuo en la megatienda camino a convertirse en un “window shopper”. La práctica económica apoyada en el paradigma “la última la paga el diablo”, funcional en alguna medida durante el neoliberalismo de primera fase, hoy colapsa. No las paga el diablo, las paga el país.

Source: Transformaciones económicas y culturales en Puerto Rico (1765 en adelante)