Velazquez on Trump Appointment of Justin Peterson to Puerto Rico Oversight Board
Washington, D.C.— Today, Rep. Nydia M. Velázquez (D-NY), released the following statement in response to President Trump’s announcement of the appointment of Justin Peterson to serve on the Financial Management and Oversight Board of Puerto Rico:
“Once again, the President is using his powers to undermine the interests of the people of Puerto Rico. Just weeks before the election, Trump has made an appointment that could impact the lives of Puerto Ricans for decades.
“Justin Peterson has spent his career advising and lobbying some of Puerto Rico’s most prominent bondholders. As a member of the Board, Peterson would have a critical say in how to restructure the Island’s debt, but his coziness with bondholders is a serious red flag and a clear conflict of interest.
“In appointing Peterson, this Administration has made clear it favors pursuing interests of bondholders over the wellbeing of the Puerto Rican people. I oppose an appointment that would further force austerity measures on the Island in favor of boosting Wall Street.”