Puerto Ricans thought they could count on Speaker Paul Ryan to help restructure the island’s debt crisis since he committed to a self-imposed March 31, 2016 deadline to produce a plan. But it looks like Ryan was deterred from his mark.
Could it be the recent influx of $600,000 from Charles and Elizabeth Koch to the Speaker’s “Team Ryan” leadership PAC that swayed Ryan’s resolve to help Puerto Ricans avoid an economic collapse, choosing instead to protect the pocketbooks of billionaire bondholders?
As the clock ticks down to the next payment deadline on Monday, May 2, Puerto Rico is likely to default on its $422 million debt payment installment. Paul Ryan appears to be fine letting that happen, which would lead to more school closures and public services cut.
Check out Bridge Project’s recent report, “The Kochs’ Wealth vs The Commonwealth of Puerto Rico” that gives an overview of the Koch network’s role in the financial crisis, descriptions of the various Koch-backed front groups that have tried to delay and block solutions to help Puerto Ricans, resulting in forced school closures and American citizens in Puerto Rico being cut off from health and public services. It also lists the hedge fund investors who are associated with the Koch network that have exploited the financial crisis for profit gain, and have the most to gain or lose depending on what Paul Ryan ends up doing.
Koch-Backed Groups Have Spent More Than $669,350 Supporting Paul Ryan; $565,400 this year alone
Contributor | Contributor Organization | Date | Target | Amount | |
Koch, Charles | Koch Industries | 03/28/2016 | Team Ryan (Paul D. Ryan’s Joint Fundraising Committee) | $244,200 | |
Koch, Elizabeth | None | 03/24/2016 | Team Ryan (Paul D. Ryan’s Joint Fundraising Committee) | $244,200 | |
Koch Industries PAC | Koch Industries | 02/04/2016 | Team Ryan (Paul D. Ryan’s Joint Fundraising Committee) | $71,000 | |
Koch Industries PAC | Koch Industries | 02/04/2016 | Ryan For Congress Inc. | $6,000 | |
Koch Industries PAC | Koch Industries | 10/23/2015 | Ryan For Congress Inc. | $1,500 | |
Koch Industries PAC | Koch Industries | 03/03/2015 | Ryan For Congress Inc. | $2,500 | |
Koch Industries PAC | Koch Industries | 12/07/2013 | Ryan For Congress Inc. | $1,500 | |
Koch Industries PAC | Koch Industries | 12/07/2013 | Ryan For Congress Inc. | $1,000 | |
Koch Industries PAC | Koch Industries | 05/02/2014 | Ryan For Congress Inc. | $5,000 | |
Koch Industries PAC | Koch Industries | 05/02/2014 | Ryan For Congress Inc. | $2,500 | |
Koch, David | Koch Industries | 05/02/2014 | Ryan For Congress Inc. | $2,600 | |
Koch, David | Koch Industries | 05/02/2014 | Ryan For Congress Inc. | $2,600 | |
Koch Industries PAC | Koch Industries | 06/13/2012 | Ryan For Congress Inc. | $5,000 | |
Koch Industries PAC | Koch Industries | 06/22/2011 | Ryan For Congress Inc. | $3,500 | |
Koch Industries PAC | Koch Industries | 02/17/2011 | Ryan For Congress Inc. | $1,500 | |
Koch Industries PAC | Koch Industries | 04/14/2010 | Ryan For Congress Inc. | $1,500 | |
Koch Industries PAC | Koch Industries | 08/19/2010 | Ryan For Congress Inc. | $3,500 | |
Koch Industries PAC | Koch Industries | 07/27/2009 | Ryan For Congress Inc. | $1,000 | |
Koch Industries PAC | Koch Industries | 09/23/2009 | Ryan For Congress Inc. | $4,000 | |
Koch Industries PAC | Koch Industries | 09/11/2008 | Ryan For Congress Inc. | $2,500 | |
Koch Industries PAC | Koch Industries | 08/14/2008 | Ryan For Congress Inc. | $2,500 | |
Koch Industries PAC | Koch Industries | 10/30/2007 | Ryan For Congress Inc. | $2,500 | |
Koch Industries PAC | Koch Industries | 09/14/2007 | Ryan For Congress Inc. | $2,500 | |
Koch, Julia | N/A | 03/19/2008 | Ryan For Congress Inc. | $1,500 | |
Koch Industries PAC | Koch Industries | 09/05/2006 | Ryan For Congress Inc. | $5,000 | |
Koch Industries PAC | Koch Industries | 09/05/2006 | Ryan For Congress Inc. | $1,000 | |
Koch Industries PAC | Koch Industries | 07/31/2006 | Ryan For Congress Inc. | $1,000 | |
Koch Industries PAC | Koch Industries | 03/10/2006 | Ryan For Congress Inc. | $1,000 | |
Koch Industries PAC | Koch Industries | 11/01/2005 | Ryan For Congress Inc. | $1,000 | |
Koch Industries PAC | Koch Industries | 09/14/2005 | Ryan For Congress Inc. | $1,000 | |
Koch Industries PAC | Koch Industries | 11/20/2003 | Ryan For Congress Inc. | $2,500 | |
Koch Industries PAC | Koch Industries | 06/19/2003 | Ryan For Congress Inc. | $2,500 | |
Koch Industries PAC | Koch Industries | 03/13/2002 | Ryan For Congress Inc. | $1,000 | |
Koch Industries PAC | Koch Industries | 10/30/2001 | Ryan For Congress Inc. | $4,000 | |
Koch Industries PAC | Koch Industries | 05/22/2000 | Ryan For Congress Inc. | $1,000 | |
Koch Industries PAC | Koch Industries | 06/29/1999 | Ryan For Congress Inc. | $5,000 | |
Koch Industries PAC | Koch Industries | 09/21/1998 | Ryan For Congress Inc. | $5,000 | |
Koch Industries PAC | Koch Industries | 06/23/1998 | Ryan For Congress Inc. | $2,500 | |
Koch Industries PAC | Koch Industries | 04/06/1998 | Ryan For Congress Inc. | $2,500 | |
Koch, David | Koch Industries | 11/18/1998 | Ryan For Congress Inc. | $1,000 | |
Total: $653,100 |
[FEC, Accessed 4/25/16]