What to make of the Puerto Rico Fiscal Control Board?

Back in June, the US Congress agreed on a bill to "solve" Puerto Rico's financial problems.  One of the solutions under the PROMESA Act (who says that politicians and their aides do not have a sense of humor?) is the establishment of a federal control board to oversee the finances of the island and the restructuring of the notorious Puerto Rican debt.  And just this past week, President Obama appointed seven members to the board, five of whom are Latin@s.

This is in-your-face colonialism for a 21st Century audience.