Democratic Congressman Ritchie Torres (NY-15) issued a statement on Aug. 5 in response to U.S. President Donald Trump’s firing of all the Democratic appointees to the U.S. Fiscal Oversight and Management Board (FOMB) in respect of Puerto Rico.

“Donald Trump has fired all of the Democratic appointees to the Fiscal Oversight and Management Board and will likely replace them with partisan loyalists: political hacks willing to sell out Puerto Rico to predatory bondholders,” Torres said.

FOMB was created by Congress under PROMESA, The Puerto Rico Oversight, Management, and Economic Stability Act, a U.S. federal law enacted in 2016 that serves as a custom-made bankruptcy law for Puerto Rico.

According to officials at Torres’ office, members of the Board are appointed by the U.S. president thr

See Full Page