This 12 yr old brilliant Canadian girl makes a striking analysis of the role of banks in the economic debacle affecting Canada. I can easily change the word Canada to Puerto Rico and it would apply completely.
One bank in Puerto Rico has a monopoly on government transactions. Citizens are forced to use it for multiple government transactions, including distribution of federal welfare programs, payment of utilities, vehicle registrations, tuition and other transactions in the state University, etc.
The board is composed of the colonial elite. Board members have made unrecoverable loans to their direct family members, and it has participated actively in the take over of smaller banks. It has received millionaire bailouts from the US Government. It has also received millionaire fines as penalty for sleazy secret doubtful transactions (The deals were sealed by the courts!).
This statement by this precocious girl from Canada, eerily applies to Puerto Rico and to many other places in the world. MJ
12-Year Old Child Reveals One of the Best Kept Secrets in the World