Two opposing forces are fighting to reshape Puerto Rico in the wake of Hurricane Maria. Wall Street, which has been plundering the island for years, is trying to tighten its grip on the island. Meanwhile, organized labor is working to rebuild the island and to rebuild its own ranks in the process.

As our video reporting from both Puerto Rico and Washington DC emphasizes, this confrontation reflects an ongoing battle for the future of the country. In one sense, Puerto Rico is the rest of the nation in extremis. Financial institutions have obtained a growing stranglehold over the economy and manipulated politicians from both parties into prioritizing bank repayments over public need. The hungry have gone unfed, the sick have gone untreated, and needed infrastructure has gone unbuilt to meet the financial industrys rapacious demands.

The financial industry had held the upper hand in Puerto Rico for years. It has lent money to the islands financially troubled government at usurious terms, profited from the buying and selling of its debt while lobbying Washington to make sure the notes they hold takes priority over the publics needs. Wall Street has encouraged the kind of predatory speculation that doesnt just bet against the people of Puerto Rico, but rigs the game to make sure they lose.

Targeted: Puerto Rico and the Working Class

The growing financialization of the American economy that is, the growth of the FIRE (finance, insurance, and real estate) sector took place with the active collaboration of elected officials. As political scientist Christopher Witko writes , politics and policy contributed just as much to the FIRE sectors growth as hedge fund managers and bank officials trying to get rich.