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conference follows a recent decision by the Puerto Rico Government to nullify a tax agreement with Doral Financial Corporation, the Commonwealth second largest mortgage lender. The contractual agreement spanned three successive administrations in Puerto Rico, all of which acknowledged that Doral had overpaid its taxes and that the Government is legal obliged to repay Doral for those overpayments.In advance of the release of his new paper, Dr. Shapiro said, "When a government unilaterally walks away from a contract, it sends troubling signals to the financial markets that stifles foreign direct and financial investments. Given Puerto Rico current economic conditions depressed business investment, the long term contraction in GDP, falling per capita incomes, and junk bond status for its public debt additional reductions in investment could have severe consequences."About Dr. Shapiro: Robert Shapiro was Undersecretary of Commerce for Economic Affairs in the Clinton Administration and is currently a Senior Fellow at the Georgetown University School of Business and chairman of the advisory firm, Sonecon. Dr. Shapiro is also an advisor to Doral Financial Group. Treasury Secretaries Robert Rubin and Timothy Geithner, other senior officials Palladium Shoes Women Pink of the Obama administration, then Senators Barack Obama and Hillary Clinton, the International Monetary Fund, and senior executives in many Fortune 100 companies. He also served as Vice President and co founder of the Progressive Policy Institute, Legislative Director and Economic Counsel to Senator Daniel Patrick Moynihan, and as a fellow of Harvard University, the National Bureau of Economic Research and the Brookings Institution. from the University of Chicago. Louis Vuitton Black Loafers

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Robert Shapiro to Release Analysis that Shows PR Government's Move to Nullify Its Agreements with Doral Financial Corporation Has Alarming Economic Implications

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Information contained on this page is provided by an independent third party content provider. WorldNow and this Station make no warranties or representations in connection therewith. EDT, Dr. Undersecretary of Commerce for Economic Affairs, will hold a press conference at the Ritz Carlton in San Juan (Isla Verde). Dr. Shapiro remarks will focus on his new paper set to be released Tuesday entitled, The Importance of the Rule of Law and Enforcement of Contracts For Foreign Investment and Economic Modernization: How Efforts by Puerto Rico Treasurer to Nullify Tax Agreements with a Local Financial Institution Will Aggravate the Commonwealth Economic Problems.The press Waterproof Palladium

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on the New York Stock Exchange under the symbol DRL.

(New York metropolitan area and northwest region of Florida) and Puerto Rico. Doral Financial Corporation common shares trade Prada Runners Womens

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