Velazquez on Olmem Puerto Rico Waiver

Washington, DC – Rep. Nydia M. Velázquez (D-NY) released the following statement regarding news that Andrew Olmem has been granted a waiver by the White House to work on issues affecting Puerto Rico's financial crisis. Previously, while in the private sector, Olmem lobbied on behalf of hedge fund clients that held Puerto Rican debt.

"Andrew Olmem has a well-documented history of lobbying on behalf of the same vulture funds that bought Puerto Rico's debt on the cheap, looking to profit from the Island's suffering. Granting a waiver enabling him to shape Puerto Rico's financial and economic policy is not only a blatant conflict of interest, but also a grave insult to the people of Puerto Rico and those who have been working responsibly to resolve this crisis. This is further proof that Mr. Trump's pledge to ‘drain the swamp' was merely a cynical campaign trail promise that he has never intended to live up to. The President and the White House should rescind this waiver immediately."

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