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.Here's recent retweet from NRO's feed on Puerto Rico:
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!
SELL OUTS: Paul Ryan, National Review Call For Puerto Rico Bailout For Hedge Fund Masters & Lobbyist Pals, by Charles C. Johnson, April 21, 2016
The island needs fiscal reform to prevent a recurrence. That should include cuts in public-employee pensions. Third: The island needs to change its anti-growth policies. Its labor laws should be less restrictive, and many of its public enterprises privatized. Fourth: Federal policies that hobble the island should end. The federal minimum wage is too high for Puerto Rico, and the protectionist Jones Act governing cargo shipments raises costs.Johnson writes that
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.Johnson:
Neuberger Berman wrote a report in May 2015 calling for more investment in Puerto Rico.
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.NRO's devotion to its corporate paymasters has been seen before in the 2008 bailout—which “The Editors” of National Review supported. That bailout caused Bill Kristol to write in the NYT "What are cherished principles for but to be violated in emergencies?" and me to write
The solution for Puerto Rico? “Stop spending so much money! Privatize! Cut that minimum wage!” says the cucks. The real solution? Cut Puerto Rico loose. But we can’t do that, that would be raaacist.
What could cause “The Editors” at National Review to support this massive bailout of Wall Street against all free-market and fiscally conservative principle? Well, here, with no comment attached, is the biography of National Review's President, Thomas L. (Dusty) Rhodes:Prior to joining National Review, Rhodes held several posts at Goldman, Sachs & Company in New York. He joined Goldman Sachs in 1974 and subsequently served as vice president (1977-1982); vice chairman, Goldman Sachs Limited, London, England (1982-1985); and partner (1986-1992).