The one thing that gives me pause here, in terms of trusting the media narrative, is my distrust of government in general and the extremely high level of corruption and incompetence in Puerto Rico.Peter may indeed be just ranting but we know the bank is actually insolvent.
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Zequeira Diaz confirmed the bank, headquartered in the Puerto Rican capital San Juan, was insolvent and that Schiff was the sole remaining shareholder. She said a trustee had been appointed to liquidate the bank’s assets and return all deposits.
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It will be interesting to see how the actual facts unfold.